Get a secured credit card
After a bankruptcy closes, you're likely to get a "slew of credit card offers in the mail," says Michael Dye, an attorney in Raleigh, N.C.
"These credit offers aren't out of the goodness of the credit card companies' hearts," Dye says. "The debtor is now a 'safe bet' because the credit card companies know that they have a time frame of four to eight years where the debtor won't be able to discharge anything in bankruptcy."
According to Dye, consumers should simply throw out the credit card offers they get after bankruptcy, because the interest rates are too high and the risk is too great.
But some bankruptcy lawyers say consumers may want to look into a secured credit card after their case closes. Most major banks offer secured cards, and borrowers are limited to spending only what they can put on the account ahead of time. However, if you're looking for that secured card to help improve your credit score, Roy says you should make sure the issuer reports to one of the three main credit reporting agencies.