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Why is it that people who file for bankruptcy are able to secure credit better than those who do not?

Answer

That's not always the case. However,in theory someone who has had a BK discharged is debt free. Therefore some creditors might view them as being a reasonable risk. Go figure! You can be certain that the credit they do obtain will come with a high interest rate and other stipulations.


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First answer by Anonymous. Last edit by Nikki. Question popularity: 31 [recommend question].

Answers.com > Wiki Answers > Categories > Business and Finance > Personal Finance > Money Management > Credit > Credit Reports > Why is it that people who file for bankruptcy are able to secure credit better than those who do not?

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Why do people who file for bankruptcy have better credit than those who do not?