Bankruptcy
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What Is A Bankruptcy LIst
A bankruptcy list is a list of organizations, firms, and
individuals who had legally declared themselves as financially
bankrupt. Essentially that means that all their debts have been
the type of bankruptcy they may be absolutely debt free.

Bankruptcy information is part of the public records published
by the court. Many companies specialize in gathering and
selling this information to various marketing firms and
consumer credit companies. These bankruptcy list companies
do a good job of finding just about everyone that has had a
recent court ordered debt discharge.

As a result the marketing firms will soon discover that your
name is on the bankruptcy list and will be sending you various
offers in the mail. These offers will include bankruptcy credit
card info, financial management programs, consumer credit
offers and help in purchasing everything from a house to a car.

Approximately one month after court discharge your mail box
will be full of these offers. If you take the time to look at them
carefully you will note that most offers are scams. If you are
wise you will consider all or almost all of the offers as junk mail
and send it to the trash container. Many people end up in bad
schemes that place them in serious debt again and eventually
back in court.

In addition many people soon become tired of all the junk mail
they receive relating to their recent bankruptcy discharge. One
of the best methods of handling this problem is to rent a
separate mailbox at the local post office for all you legitimate
mail. Even then you may soon find that the new bankruptcy list
has your new address as well.

Granted there are legitimate offers from good companies.
However it requires good research and advice to find credible
information that you can effective use. You will find most of the
offers that come in the mail contain bankruptcy credit card info.

If you have been working with a credit counseling service it
would be very wise to contact them prior to applying for any
credit card. Most of these services will tell you that you should
live on a cash basis for at least a year or more before acquiring
any credit card. Excessive credit card debt was more than
likely a contributing factor to ending up in serious debt. Your
credit counselor is all too familiar with the downside of being
on the bankruptcy list.

If you must get a credit card to do business or manage your
home then you should only apply for a secured credit card.
You will have to post collateral in the form of a deposit to a
special bank account to obtain this type of credit card. The
card limit will be equal to the amount of the deposit. The
collateral will be used to pay any credit card debt that is not
paid on time. If you use a secured card wisely it can help
rebuild your credit score.

Having your name on a bankruptcy list is an inevitable
consequence of a bankruptcy discharge. The resulting flow of
financial and consumer offers can be tempting. If you are wise
you will consider most of the offers as junk mail. Failure to be
disciplined may lead to being in serious debt again.


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