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    People considering bankruptcy have many questions regarding
    how future credit will be affected. Some think that it will
    be 10 years before they can get credit again, or that they
    will never get a credit card after their bankruptcy.

    Common questions debtors have are usually about keeping
    current credit cards, establishing new credit and buying a

    If money is owed on a current credit card, then it must be
    listed in your bankruptcy forms as a debt. These forms are
    filed under penalty of perjury and if fraud is detected,
    your bankruptcy case can be discharged.

    Also perjury is a federal crime punishable by a fine and
    time in prison. Neither circumstance is ideal for someone
    trying to repair his or her credit. But if nothing is owed
    on the card, then it does not have to be listed.

    But this doesn?t necessarily mean you will get to keep your
    card. Your company may cancel your account as a
    precautionary measure.

    Credit is now available to the recently bankrupt. Though
    most will find high restrictions such as lower limits and
    higher interest rates.

    But it is not necessarily a good idea to start up right
    away with those credit cards. Usually it is what gets
    people into trouble in the first place. It is also
    important to avoid credit repair scams.

    After filing for bankruptcy, many people are afraid they
    wont be able to buy a home for 10 years while they have a
    history of bankruptcy on their credit report.

    Usually 18-24 months within a bankruptcy discharge, debtors
    can qualify for a loan on the same terms as if they had not
    filed for bankruptcy.