Debt and Bankruptcy

According to bankruptcy laws, how long must one wait after filing bankruptcy before they can buy on credit again?

-101

Answer

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Wiki User
04/14/2010

Bankruptcy laws do not prohibit a person from opening another credit account. However, it may be difficult to find a bank willing to extend credit to someone who has filed bankruptcy. In addition, consumers should be careful not to repeat past mistakes. Once bankruptcy has been filed, it is a good idea to operate on a cash basis to re-learn the essentials of personal finance.