LIFE
AFTER BANKRUPTCY
A
number of banks now offer "secured" credit cards where a
debtor puts up a certain amount of money (as little as
$200) in an account at the bank to guarantee payment.
Usually the credit limit is equal to the security given and
is increased as the debtor proves his or her ability to pay
the debt.
Two years after a bankruptcy discharge, debtors are
eligible for mortgage loans on terms as good as those of
others, with the same financial profile, who have not filed
bankruptcy.
The size of your down payment and the stability of your
income will be much more important than the fact you filed
bankruptcy in the past.The fact you filed bankruptcy stays
on your credit report for 10 years.
It becomes less significant the further in the past the
bankruptcy is.
The truth is, that you are probably a better credit risk
after bankruptcy than before.
*Attorney Fees Exclude Court Filing Fees ($299.00) And
Credit Counseling Fees ($50.00). There are no additional
hidden costs and we encourage you to educate yourself on
other law firms and their costs before making a firm
decision to hire us.
Email: info@teamlegalchicago.com