Legal Question in Bankruptcy in Alabama

credit after bankruptcy

We are 65 years old and filed ch 7 in Ohio because of adj home mortgage rate and other debts after husband could no longer work the 3 part time jobs because of Social Security income restrictions.Our first meeting is in April.We now live in AL. We have already started receiving opportunitys to get vehicles and credit card. we told attorney we want to keep our leased vehicle which lease expires in 6/09. Question. Should we have let the car go and tried after or before bankruptcy to get another vhehicle. And should we wait til after bankruptcy to get a credit card since we would need one for emmergencies and to rebuild our credit. Should we pay off our cards after bankruptcy since we want have a house payment over 2,300.00 per month?


Asked on 2/28/08, 9:07 am

1 Answer from Attorneys
James Patterson Underwood & Reimer, P.C.

Re: credit after bankruptcy

That�s a very loaded question. You really need to discuss these questions with your BK attorney and get his opinion. Be careful on the credit opportunities. Generally, the first couple of years away from your BK the interest rates are extremely high.

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Answered on 2/29/08, 2:45 pm


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