When can I get credit again to buy a car or home?
Of course, this depends on each individual
creditor. However, it is possible to get secured credit cards and usually even
car loans after filing bankruptcy (just check the many car credit ads encouraging people with bankruptcies
to call). Creditors realize that your financial condition has improved because
the old debt has been discharged. In addition, their risk is limited because you
cannot file bankruptcy again for 6-7 years. While you can expect some
declines, other creditors may accept the risk, but will usually demand a higher
down payment and/or a higher interest rate.
