Bankruptcy list is a list of individual, firms and organizations that had been declared legally as financially bankrupt. It means the US Bankruptcy Court has been legally discharged their all debts. The Court publishes this record or information publicly. Some companies are specialized in gathering these information or records and selling it to the various credit companies and other marketing firms. From the bankruptcy list, marketing companies will find your name and soon will be sending you mails with various offers. The mails will include offers like credit card after bankruptcy, credit counseling, financial management programs and other type of loans to you. Within one month after you have been discharged by the court, you will find that your mail box is full with all these offers. But the strange thing is that maximum of the offers are scams. But it doesn’t mean that you will not get good offers, some offers may help you to improve your financial circumstance. There are some legitimate companies that can provide you good offer; however it requires good market research.
Among the offers most of them will be from credit card companies, but you must think whether you should avail further credit cards or not. All credit counseling companies will suggest you not to use credit cards for at least one year and live on a cash basis.
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It is a myth that getting into debt is easy and getting out of debt is difficult. The loan that took only days or weeks to accumulate can take years or even decades to get rid of. You may be aware of the statistics of the BoE that a small credit card balance can take 30 years to pay off if only the minimum payment is made each month
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