New debt after getting discharge in bankruptcy?
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I was wondering what some pros and cons are for incurring new debt after getting discharged from bankruptcy. I know an obvoius con is that you may never learn your lesson, and have to file again. Are there any more? I also know that if you incur some new debt you can help rebuild your credit. Is there anything else?
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Answer:
Read or listen to Dave Ramsey. He has great programs for staying debt free. His saying is "Live like no one else today (debt free) so you can live like no one else tomorrow (plenty of cash on hand). the only reason to go into debt is to buy a house if you can't save up for it - and most of us can't. Good luck
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Other answers
Unfortunately in order to be able to do things (even get a job for some odd reason) you need to have good credit. You need it to rent an apartment, buy a house or a car. It sucks but that's where we are. Hopefully that will all change in the future but I doubt it. That being said, it's not a bad idea to have some (keyword some) credit accounts to help restore your good score. Eventually that bankruptcy will go away and it will be like it never happened. It is important though to make sure you don't get back into your bad spending habits. I say it's ok to take advantage of cards where you get a percentage back on your purchases. I have one where I use it to buy gas, get 3% back, but I pay it off before the bill even comes. I have the money but I take advantage of the 3% back offer. I see it as taking advantage of the credit card company instead of them taking advantage of me. Since I technically don't have a balance with them I never pay interest. The main thing is making sure you don't rack up a bunch of debt again. Good luck!
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