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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 really isn't any other option, when this occurs these people often start worrying about things such as the obtaining of your good credit card after bankruptcy.

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

[ http://aftrbankruptcy.insanejournal.com/260.html] Best Credit Cards After Bankruptcy] - One the reasons companies will offer credit cards after bankruptcy is the fact that a person cannot declare themselves bankrupt for at least seven years following your initial action has been discharged.

Thanks to this credit card companies have a legal recourse to use to collect any debts the credit card holder may end track of. Credit card debts are typically unsecured, however when someone cannot declare bankruptcy, wage attachment can be used by the company to get back their money.

[2] After Bankruptcy Credit Cards] - Although their offers are available after bankruptcy they can be a risky option for some. Not only will you be dealing with higher interest rates but you will be charged on late payments and this can quickly add up.

Bank cards After Bankruptcy are frequently offered by companies supposedly as a possible option to help rebuild ones credit history. People will very often pick prepaid credit cards up in the hope of having back on their feet. This can be despite the fact that total annual fees will often even equal that relating to their initial credit limit.

For some things quickly get worse and worse

To put things into perspective allow us to say for example that the credit card after bankruptcy annual fees are $290 and your initial credit limit was $300, if you were only one day late to get a payment you can expect typically to end up paying $30 being a late fee.

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

Along with all this since you didn't work at this point in your obligations, your rate of interest on your card can very quickly go to the maximum allowed legally.

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

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

So there you have it, is it possible? Yes. But is it advisable? That is obviously likely to depend on your ability to help keep in check with payments and exactly how much you really need a credit card after bankruptcy.