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Bankruptcy Law/Reaffirming Old Debt After Chapt. 7

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Expert: - 8/20/2008


Question
Hello,

My bankruptcy was finalized sometime around 06/2007. I'm having a very hard time reestablishing credit and I was wondering if I would still be able to reaffirm a debt I held on a credit card. I'm not familiar with the process... If I am still able to work with the company and reaffirm that debt would I then be treated as one of their normal credit card holders or would I be different in their eyes? Also, would it even impact my credit score if it were at all possible?
Sorry for all the questions in there. I would just like to know if I'm thinking on the right path for the right reasons/outcomes.

Thank you so much for your time!

Answer
You cannot reaffirm the existing debt unless you enter into a reaffirmation agreement and have it filed with the bankruptcy court prior to your discharge being entered.  However, there's nothing preventing you from getting a new credit card and re-establishing your credit that way.

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Mark J. Markus- California Bankruptcy Attorney

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Mark J. Markus is a Los Angeles bankruptcy attorney who has practiced exclusively bankruptcy law in California since 1991 and is rated A+ by the Better Business Bureau and is AV-rated by Martindale-Hubbell. He represents debtors, creditors, and Trustees in Chapter 7, Chapter 11, and Chapter 13 of the bankruptcy code throughout California.

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Visit our California bankruptcy webpage at http://www.bklaw.com for more information on bankruptcy in general and Mark J. Markus in particular. Many questions are answered on the web page (hint, hint).
The Markus webpage also contains more information on

  • Which Chapter to File,
  • business bankruptcy,
  • chapter 7 bankruptcy,
  • chapter 11 bankruptcy,
  • chapter 13 bankruptcy,
  • Do You Need a Lawyer to File Bankruptcy?
  • Frequently Asked Bankruptcy Questions

    Also visit our Los Angeles bankruptcy blog for interesting articles and much more.



    Organizations
    Central District Consumer Bankruptcy Attorneys Association (CDCBAA) Los Angeles County Bar Association (LACBA) Commercial Law & Bankruptcy Section of the Los Angeles County Bar Association Financial Lawyers Conference (FLC) National Association of Consumer Bankruptcy Attorneys (NACBA) Los Angeles Bankruptcy Forum (LABF) American Bankruptcy Institute (ABI) San Fernando Valley Bar Association (SFVBA)

    Publications
    Central District Consumer Bankruptcy Attorneys Association Newsletter September 2007 (Vol. 1, Issue 2)

    Education/Credentials
    J.D., University of Arizona 1990. B.A. Economics, California State University, Northridge 1986. For more details please click here

    Awards and Honors
    AV Rated by Martindale-Hubbell (http://www.martindale.com) A+ Rated by Better Business Bureau

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