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[1] Credit Cards After Bankruptcy] - As much as we all would want to avoid having to declare bankruptcy, sometimes for some people there actually is no other option, when this happens these people often start worrying about such things as the obtaining of your good credit card after bankruptcy.

However regardless from what some may think receiving a credit card after bankruptcy isn't impossible. You can find companies willing to provide this although normally you may expect high interest rates and additional annual fees.

[2] Best Credit Cards After Bankruptcy] - One the reason why companies will offer a charge card after bankruptcy is the fact that a person cannot seek bankruptcy relief for at least seven years after the initial action continues to be discharged.

Thanks to this creditors have a legal recourse to utilize to collect any debts the charge card holder may end on top of. Credit card debts are typically unsecured, however when someone cannot declare bankruptcy, wage attachment can be used by the company to have back their money.

[3] After Bankruptcy Credit Cards] - Although these credit cards are available after bankruptcy they can be a risky option for some. Not only will you be dealing with higher rates of interest but you will be charged on late payments which can quickly add up.

Credit Cards After Bankruptcy are very frequently offered by companies supposedly being an option to help rebuild ones credit history. People will very often pick these cards up in the hope of having back on their feet. This really is despite the fact that total annual fees will often even equal that relating to their initial credit limit.

For some things quickly worsen and worse

To set things into perspective allow us to say for example your credit card after bankruptcy annual fees are $290 along with your initial credit limit was $300, should you be only one day late for any payment you can expect typically to end up paying $30 being a late fee.

Consequently this would push-up the liability to $320 which will cause another $30 fee to be over the limit, this means that the credit card holder would will have a debt of $350!

On top of all this since you didn't work at this point in your obligations, your rate of interest on your card can quickly go to the maximum allowed for legal reasons.

With the exception of actually paying available online for really isn't a good way out at this stage, especially as many companies will make the demand that they're paid in full within 1 month.

Wage garnishment, court proceedings and daily phone calls are just some of the things you can expect from here on in and it could well be years before you decide to manage to clear up all your debts.

So there you have it, is it feasible? Yes. But is it advisable? That is obviously going to depend on your ability to maintain in check with payments and just how much you really need a credit card after bankruptcy.