05 Aug If I File Bankruptcy Will I Ever Get Credit Again, And Again?
Debtors report receiving credit applications after bankruptcy, often from the same lenders whose debts were discharged. A study of empirical data collected from post-bankruptcy debtors by University of Iowa Associate Law Professor Katherine Porter concludes that creditors repeatedly solicit debtors with everything from credit cards and live checks to car loans and mortgages. Professor Porter tells us “[w]idespread marketing provides a powerful example of the credit industry’s willingness to profit from financially distressed and vulnerable customers.” See Bankruptcy Profits: The Credit Industry’s Business Model For PostBankruptcy Lending.
Andy Miofsky, Esq.
Latest posts by Andy Miofsky, Esq. (see all)
- Why does the IRS file liens? And what you can do about one. - September 21, 2018
- Social Security Income: Invisible Money Bankruptcy Cannot Touch. - December 19, 2016
- What can and cannot be included on a credit report? - December 21, 2015
- Use Exemptions to Protect Your Property in Bankruptcy - January 20, 2014
- A profile of the typical person who files bankruptcy - January 13, 2014