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What happens to my credit score after bankruptcy?

By Florida Law Advisers, P.A. |

Bankruptcy is designed to give borrowers a fresh start and provides the opportunity to discharge bills, collection accounts, and judgments. When the debts are discharged and removed from your report, the credit score should increase. Many borrowers will see a substantial increase in their credit score within just a few months after bankruptcy.

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How do I get new credit cards after bankruptcy?

By Florida Law Advisers, P.A. |

New credit cards with a balance of only $300 can help improve your credit score after bankruptcy. While some banks may be skeptical about extending credit so soon after bankruptcy, some retailers may be more willing to do so. Retailers (such as gas stations, for example) will often have less restrictions for new applicants… Read More »

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Can I buy a home after bankruptcy?

By Florida Law Advisers, P.A. |

Yes, filing bankruptcy does not prevent you from obtaining a new home mortgage. However, the government mortgage programs such as VA, FHA, and Fannie Mae have a 24-month waiting period for eligibility after bankruptcy. Other mortgage programs may have a shorter or longer waiting period, depending on their specific guidelines.

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Will I qualify for a new car loan after bankruptcy?

By Florida Law Advisers, P.A. |

Yes, many car loan lenders will have no restrictions or waiting periods after bankruptcy. There are many car loan lenders who will provide financing for a new car the same day your bankruptcy is completed.

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