Everyone, irrespective of whether he has filed for bankruptcy or not, wants his credit rating to go up. The above question comes to the mind of every individual who is contemplating filing a bankruptcy petition. You tend to worry that you will become ineligible for credit once you file for bankruptcy. The good news is that even after filing bankruptcy and receiving discharge, you can still rebuild your credit. However, you need to do the following:
1. You must apply for credit
2. You must receive credit
3. You must repay the credit possibly every month.
The simple logic is that any person who pays off any monthly debt, like a credit card payment, sees his credit rating going up! Companies in the business of lending are eager to give credit-hey, they make money by lending! And when they look at you, apart from the bankruptcy filing issue, they also see your present income, sometimes the family’s income, and your expenses. If all of this supports you, you will certainly receive credit.
So if this is one thought stopping you from bankruptcy filing, it certainly lacks logic!