If i make myself bankrupt can i still get credit afterwards?

Almost EVERY answer here is wrong. IF your in the UK:

During your Bankruptcy:

You may not obtain any more than Â£500 or more credit without FIRST disclosing to them your a bankrupt. Once declared it's up to that business to decide Most will not others will.

AFTER your bankruptcy.

Your Bankruptcy will stay on your credit file for 6 years only, just like a county court Judgement.
You CAN get credit afterwards. Depending on the business and their discretion and how much you want.
You CAN have a bank account during a bankruptcy although it will probably be a basic one however it DOES NOT take 7 years to get ANY credit at all. THIS IS UNTRUE if your in the UK.
Most Banks WILL give you a current account providing you have kept your basic account in good working order.
So in answer to your question, you CAN get credit BUT it depends on who, what for, their criteria and your actions.

Will be going bankrupt myself in 2009 and have been researching the ins and outs since early 2008.

The whole point of banruptcy is NOT so that you will never get credit again (Credit is in fact such things as having a bank account or being able to get a mobile phone contract or home phone!)
the whole point is that you have an income that does not and will never pay the outgoings. This is a slap on the wrist with a 12 month order for punishment. and to be debt free afterwards.
There are many who have gone bankrupt and then run up more debts afterwards however this is WHY the IPO's were brought in.
IPO'S (Income payment orders) where they can take some of your income every month to PAY your creditors. THIS can go on after your bankruptcy order has finished IF they think it needs to.
It is NOT an easy option at all so please get some advice that is NOT from the publin on yahoo.
Please talk to the CAB or the CCCS. They have been great for me!

I know now more than most about bankruptcy than most do. I'm only 28!
you can also call the insolvency service (google) and ask them.
I have done that many a time.
Good Luck

PS it also costs A LOT of money to go bankrupt and if you own assets such as cars, your home, expensive items such as clothes antiques etc, then you can lose ALL of that, you cannot hold certain positions in a company and "certain" jobs, like if you already work for a financial institution can sack you!
IF you rent and your tenancy has a clause to say that if the tenant becomes a bankrupt then the tenancy is void, THEN you become homeless and must find someone who WILL take you on.
so er NO most of us woudn't choose to keep going bankrupt all the time whenever we felt like it or ran up debts.
Bankruptcy is NOT about getting or not getting credit, it's about what "assets" you own!!!

It will take a good many years, up to 7 for you to be able to get credit again. You should really learn from previous mistakes and live within your means. Is there mucg point in going bankrupt to then get more credit??

Dont go bankrupt yet. You can still get credit if you can get your current credit card or personal loan balances wiped out legally. The website www.bdebtfree.info can help you.

yes after about 6 yrs and even after that it will be as if you've never borrowed and you will have to build your credit rating up again and it will take an extra 17 months or so to have a good credit rating as long as you do things properly

hiya, you can get credit in some places,but a lot say no.you will have to look around.

No way - apart from companies like "Honest Fred" but you're likely to get your head nailed to a coffee table.

It's difficult enough to get credit when you have a good credit rating nowadays.

If it was simply a case of going bankrupt every time you needed money, we'd all do it, wouldn't we ?

Once bankrupt you really can't get credit for 6 years which is the period that this will last and it will remain on your record somewhere on the system that you declared yourself bankrupt.

Also remember anything you own or saving will be at risk, so do be careful, the only way I would say this would be o.k if the amount you owe is so large that in the next 6 years you would not be able to pay back 50%. Then I would go for it and do remember that it will cost a bit of money to make yourself bankrupt.

It's a hard choice, you do need to balance it out for your own position that you are in now.

NO NO and NO, you are not allowed credit of any type for 5 years, it would be the lenders discretion, but it would still be no. If you obtained credit using false details then you could end up facing charges of fraud and decption. Bankruptcy is a serious business, not a clean slate to star again

wouldn't think so as you'd be far too high a risk

not for 3-5 year, while the bankruptcy is still on your record... I think

No, not at all...possibly never again, that's the point of bankruptcy

Of course you can! There are plenty of options after bankruptcy! By then, the lenders know you have no choice but to pay them and they know you filed bankruptcy to make a fresh start. There are cards out there for people with no credit or bad credit. They are for high risk people. There are also prepaid cards out there for people who want to build their credit back up. Its a prepaid credit builder program. The cards are free and so is the program on MOST of them. Don't ever pay for the program. Anyways, if you are looking for an auto loan or credit card and you have bad credit or no credit now, check this site:

PeopleSaveHere.com/creditcards.html and compare different credit options for people with bad/no credit.

Peoplesavehere.com/prepaid.html

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