Salt Lake City, Provo & Ogden Bankruptcy Attorneys

Credit Cards After Bankruptcy

If you are considering filing for bankruptcy or have already filed, you may wonder what effects filing for Chapter 7 or Chapter 13 will have on your credit score as well as your ability to rebuild your credit at the conclusion of the case. Credit cards can actually play a major role in rebuilding your credit, and if used properly and conservatively, a new credit card or new cards can actually help you establish a new credit history.

Although it may seem strange, a person who has filed for bankruptcy is actually an excellent credit risk for a lender to take on. The reasoning behind this is that the person will be ineligible to file for bankruptcy again for seven years, and therefore there is a better chance of recovering the debt.

Consult a Salt Lake City Bankruptcy Lawyer

Would you like to learn more about bankruptcy and what effects this will have on your credit? A Salt Lake City bankruptcy lawyer at the Stone Law Firm can meet with you during a free initial consultation and address your concerns in this regard. We believe that it is important that you understand all aspects of filing for bankruptcy, and this includes your credit score and how credit cards can help you after your bankruptcy is finished.

If you are responsible and cautious in using your new credit cards, you can effectively begin to rebuild your credit score and therefore get better interest rates on future loans or improve your chances of qualifying for a better interest rate if you purchase a home. An attorney at our firm can help you understand this further during your case evaluation or if you decide to work with our firm. Our lawyers represent clients throughout all of Salt Lake City, Provo and Ogden, Utah.

Contact a Salt Lake City bankruptcy attorney at the Stone Law Firm today to discuss credit cards and bankruptcy.