Credit card applications A review of the basics
Many filed for bankruptcy protection. Those who just a few short months before had the financial ability to buy whatever they desired now were helpless to do anything but watch their good credit rating evaporate. Historically, one of the repercussions of bankruptcy has been that the debtor would be unable to obtain credit for at least seven years after filing for protection, rendering major purchases such as applicances and cars impossible. For those who want to get back on their feet and reestablish their good credit rating, there now are secured, or bad credit credit cards to help them on their way. Bad credit credit cards are not meant to be an easy fix for the irresponsible, however.