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Credit After Bankruptcy - Why?

By L. Jed Berliner, Massachusetts Bankruptcy Attorney on Jul 10, 2007 in Life After Bankruptcy, Massachusetts

Yesterday I posted about how to get credit after bankruptcy. But why do it?

Let’s pause here and maybe take a breath. Many clients are afraid of bankruptcy because they want credit for the future. Well, there’s credit and then there’s credit.

A mortgage or a car purchase is one thing, and having one credit card for a highway breakdown or vacation car rental is also just fine. Beyond that, you might want to take a hard look at what you are doing. Credit cards may have become a great convenience, but they sure can be dangerous. Living within means is kind of fun, even if not convenient. It’s a great feeling to have a savings every month.

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