Will I be able to get credit after filing bankruptcy?
Filing bankruptcy in Arizona does not prevent you from getting new credit. As a matter of fact, there are many lenders who target freshly filed bankruptcy filers. Thus, right after a bankruptcy filing in Arizona, you can expect credit to be more difficult to get. However, credit is available. Usually the available credit is from large car dealers who want to sell you a car at their price. this is not always a great deal. Nonetheless, it is a good way to establish new credit. It may be worth a look for you if you have just filed bankruptcy in Arizona.
Another thing to keep in mind when looking into credit after filing bankruptcy is that Two years after a bankruptcy discharge, some debtors are eligible for mortgage loans. Although, some of the financing terms may not be as good as those who haven’t filed bankruptcy. It is possible to qualify for a home mortgage 2 years after filing for bankruptcy in Arizona. A home mortgage is an excellent way to improve your credit on the heels of filing bankruptcy.
Your bankruptcy filing stays on your credit for 10 years, however, it becomes less significant the further in the past the bankruptcy is. In fact, you are probably a better credit risk after your bankruptcy than before when you owed all that money. Contact an experienced bankruptcy attorney in Phoenix if you are trying to improve your credit after a bankruptcy.