Every day I am actually asked, “What happens to my credit score after bankruptcy?”
And I tell my clients that, at the time of filing bankruptcy, we are going to pull the three source credit report with the judgment and lean search. That shows what your credit score is today and what your credit score is going to be a year from filing for bankruptcy. I tell everybody once you file for bankruptcy, you are going to get more (credit card and sales) offers than you can imagine. You’re going to get offers from all the big box stores and card lenders, etc.
The reason being, if these lenders are not lending money they are not making money. And who better to lend money to than somebody who either eliminated their debt or reduced their debt.
My advice is always to start out slow. Get a secured credit card. If you are going to get a credit card, get one and one only for emergency purposes. And if you don’t incur any new debt and make otherwise regular payments on a mortgage, rent or car, you’re going to see your credit score increase by almost a hundred points in the first year.
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See also: What Happens to Your Credit Score After Bankruptcy?