Frequently Asked Questions |
After You File: |
| What do I need to do after filing bankruptcy? |
| After filing, but before all debts are discharged, consumers must receive a course on personal financial management. Each consumer receives a certificate, valid for 180 days (6 months) after the date of the session. This course is offered by CCCS of Greater Dallas. |
| After Bankruptcy, can I obtain new credit? |
| Yes, but you can expect a much higher cost of credit (interest and fees) and adverse action (denial of credit) when applying for a loan or credit card. |
| How can I reestablish credit? |
| You may want to consider a secured credit card. |
| How will bankruptcy affect my credit? |
| The information on your credit report will not change. If you had delinquencies or collections on your credit repot, they will remain; they are no longer collectible once they are discharged through bankruptcy. You can expect Chapter 7 to remain on your credit file for 10 years and Chapter 13 to remain for 7 years. |
| Can CCCS offer any more assistance after I file Bankruptcy? |
| At CCCS, we offer free education classes for a variety of topics ranging from basics financial literacy and wellness, credit, banking, saving and much more. |