How long does it take to get a credit card after ... Chapter 7 Bankruptcy?

After you file Chapter 7 bankruptcy then you have a 341 meeting. So then the final step will be decided.

The best way is to go for debt settlement programs . The debtors can file this at any situations.

Chapter 7 Bankruptcy provides for court administered liquidation of the assets of a financially troubled individual or business. This is the most familiar type of bankruptcy, in which many or all of your debts are wiped out completely in exchange for giving up your nonexempt property. Chapter 7 bankruptcy takes from three to six months, costs about $200, and commonly requires only one trip to the courthouse.  You're going to have to wait at least one year from the time the BK is discharged before you should even think about applying for a card.  But you can use services like Account Now that will help rebuild your credit with prepaid debit cards.  Good Luck - here is a link for more info: http://ratenerd.com/daily-deal-save-400-on-average-with-accountnow-202

It generally takes at least a year to put yourself in the right situation to apply for credit after a chapter 7.  I agree that Account Now is a great way to begin establishing credit if you use their bill pay.  Be cautious though, once you start to get credit again, adhere to restraint and a budget so you don't get in over your head again. 

Bankruptcy stays on the individual's credit report for up to 10 years for most purposes.

You may be able to get a secured credit card where you pay $100.00 or so in security and as you use the card and pay in good faith you will be able to get the security back but that will take years.  It is worth it, though considering no one will give you a loan, credit card, etc. without at least having one good credit rating with a credit card company.  Plan on paying cash for everything for a long, long, time.

After you file for bankruptcy, the best credit card after bankruptcy is going to be a secured credit card. With a secured credit card, you have to put down a collateral cash deposit. Whatever amount you put down for your deposit becomes your credit limit. If you repay your owing balance on time, your bank might reward you by increasing your limit without asking for a higher down payment. If you fail to make payments however, your deposit will be used to repay your owing balance.

You may be able to get a secured credit card while in bankruptcy 7.  The secured card will require a $100.00 or $200.00 deposit and you will be given $500.00 credit.  Usually it is ten years before you can get a regular credit card.  However, the secured card is a beginning in cleaning up the mess and making good faith in building your credit rating.  When the bankruptcy is over you contact the credit company that gave you the secured account and they will refund your deposit.  Also, you can keep one of your credit cards that were put into the bankruptcy and pay what you owe them and the account will remain open.

When applying for credit or taking out a loan, the first thing that your creditor will do is to check your credit report. Based on your credit report, a lender can either grant you an approval or reject your application. For this reason, everyone is advised to personally check on their credit report first before sending out an application to a prospective lender. This way, rejection and unnecessary inquiries in your credit report can be avoided. What factors affect the status of your credit report?

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