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biscuit7333

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21 People Helped
what banks will trust you again after bankruptcy , how to get a fresh start?
you make one mistake in life, going threw a divorce or a emergency and have to file bankruptcy and every one of your creditors , seems like you have committed a crime . why cant they see when you are trying to start over and are doing good after 7 yrs.. they still won!t give you a low intrest rate . I think people deserve a second chance instead of keep on beating someone down with the high intrest rates .. what should a person do when they are trying to start over ..? is there a company that will trust you once again

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Trust was broken, need to rebuild.

While the circumstances were probably justified, a bankruptcy is a broken promise.  When you signed the credit contract, you promised to repay them in full.  Instead, you filed a bankruptcy and got your obligation removed.  This is a broken trust.

I'm not scolding you for doing so, since I did nearly 20 years ago.  That broken trust has to be rebuilt and that means taking another chance, hoping you don't duck out again.  That's why the high interest rates .  These will gradually be lowered the longer you prove that you can be trusted with someone else's money, which is what credit is.

The high interest is what is charged to brand new credit card ownere, too, since they don't already have a track record.  So, just use your cards wisely (below 20% usage and paid in full every statement period) and you will rebuild that trust and see the benefits in due time.  I have.

Top Contributor
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At least 10 years...

Bankruptcy is a big deal for creditots and I think it will haunt you for at least 10 years. Only after then there is some light at the end of the tunnel. It's frustrating, but that's the way it is. However, there are a few small financial institutions you can try (especially local). Big national banks will not give you any chance as of today...

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