If you are in debt but have a pending immigration case you may be wondering if you can file bankruptcy and if you do how will filing bankruptcy impact your immigariton status? Show
There is no specific law that says that filing for bankruptcy will prevent you from getting your Visa or United States Citizen  The newly implemented regulations make it much harder for an individual to adjust status or for an individual to show that he or she will not be a public charge. The non citizens most impacted by this ruling are those seeking lawful permanent residence in the United States. “Public Charge” is a ground of inadmissibility. When a person is applying for a green card immigration uses these grounds of inadmissibility for reasons that a person can be denied a green card or visa in the United States. The new Public Charge rule is a test to determine if someone applying for permanent residence (“green card”) or for a visa will depend on Governement benefits in the future. If the person is likely to use public benefits in the future then the individuals visa or green card application will be denied. How Does the Public Charge Rule Affect Me If I File Bankruptcy?The new rule lays out 46 different factors that an immigration officer will consider when reviewing a green card or visa application. These factors include:
Immigration will weigh each as a positive, neutral or negative factor. Up untill now, bankruptcy had never really been considered when someone applied for an adjustment of status. With the new rule in affect, immigrants who want to file bankruptcy may need to consult with an immigration attorney first to see how the public charge rule will impact their case. Note, this list is not exhaustive and immigration officials will weigh each factor. An immigration lawyer can go through each factor and determine if filing bankruptcy will be a problem for you in the future. Keep in mind, there are some groups of people who may be able to file bankruptcy because the public charge rule does not apply to them. Some of these groups are:
If you have more questions about filing bankruptcy or how your immigration status will impact your bankruptcy case please feel free to call us at (973)-979-9078. Editorial Note: We earn a commission from partner links on Forbes Advisor. Commissions do not affect our editors' opinions or evaluations. Bankruptcies are often considered a “worst-case scenario,” as they can have long-lasting effects on your finances and credit. But it’s not the end of the world. Anyone can rebuild credit after suffering bankruptcy by applying for a credit card designed for people with poor or bad credit. With responsible spending and on-time payments, you’ll watch your credit score rise again. Find the Best Credit Cards For Bad CreditHow Long After Bankruptcy Can I Get a Credit Card?The amount of time it takes to get a credit card after bankruptcy can depend on a few factors. It could take several years to qualify for a card again. Let’s review the types of bankruptcies and what each means for your credit. The Type of Bankruptcy CountsThere are two basic types of personal bankruptcies:
A Bankruptcy Must Be Discharged Before You Can Apply For a New CardYou cannot apply for any new lines of credit—including a credit card—while your bankruptcy proceedings are in progress without court approval. The amount of time it takes to settle and complete your bankruptcy proceedings will determine when you can apply for a credit card. A Chapter 7 bankruptcy takes approximately four to six months after the initial filing to be completed and your debts discharged. After that, you can apply for a credit card. A Chapter 13 bankruptcy, however, can take between three to five years as it’s a restructuring of your debt that you pay off over time. Only after you’ve made your last payment will your bankruptcy be discharged. Until then, you’ll have to receive approval from the court. Credit Card EligibilityRegardless of which type or specific circumstances, filing for bankruptcy will have a lasting impact on your credit score. A bankruptcy will show on your credit report for a significant amount of time. A Chapter 7 bankruptcy will stay on your credit report for 10 years and a Chapter 13 will remain on your report for up to seven years. With a less-than-stellar credit score, responsible use of a credit card can help rebuild your score. It may feel like a catch-22, since even after approval you likely won’t qualify for many cards like those offering rich rewards or premium perks. The best move regardless is to apply for a card designed for someone rebuilding credit. A secured card is ideal for this purpose and even with a fresh bankruptcy you may be able to receive approval. With a secured card, the credit limit you receive is typically equal to the amount of the security deposit you put down. A handful of unsecured card issuers won’t check your credit score or may be willing to extend a line of credit even to someone with a blemished credit history. These cards typically come laden with fees and sky-high rates, so be careful to check while shopping. Secured cards from major issuers tend to have lower costs. After Getting a Credit CardWith your new card, the work to improve your credit doesn’t stop. If you focus on improving your credit score you may eventually qualify for better credit cards and see more favorable rates on other types of loans, like car loans, mortgages or student loan payments. Credit Card Strategies After BankruptcyThere are several steps you can take to get on a path towards better credit:
Credit Cards to Apply For After BankruptcyCredit card options do exist for those recovering from bankruptcy. Each has its benefits and drawbacks, so consider each carefully before applying. Check for pre-approval when available before submitting your application. Keep in mind credit cards designed for cardholders with poor credit typically have higher APRs than cards aimed at those with good or better credit. You can avoid paying interest by spending responsibly and paying off your balance in full every month. Discover it® Secured Credit CardThe Discover it® Secured Credit Card is designed for people looking to rebuild credit, making it a good choice for anyone recovering from bankruptcy. As it is a secured card, it requires a deposit of at least $200, which becomes the credit line. Deposits are refundable if you pay off your balance in full and close the credit card account (or upgrade to an unsecured card after a period of responsible credit management). Other perks include:
Capital One Platinum Secured Credit CardCapital One’s Platinum Secured card is promoted with a “rebuilding credit” level meaning anyone who has defaulted on more than one loan may qualify. The Platinum Secured card requires a deposit to establish a credit line as with most secured cards. But only a small deposit of $49, $99 or $200 is needed to earn an initial credit line of $200 depending on the terms of your offer. Other perks include:
OpenSky® Secured Visa® Credit CardNo matter how rough your credit history may be, OpenSky, a credit card company owned by Capital Bank, offers a secured credit card that may be available to you. The OpenSky Secured Credit Visa card doesn’t require a credit check, so your credit score doesn’t matter for approval. A small refundable deposit of at least $200 is required to open the account. There aren’t any rewards to note, but the Visa card can be used for all types of purchases. On the downside, this card charges an annual fee of $35. Other perks include:
Credit One Bank® Platinum Visa® for Rebuilding Credit*The Credit One Bank Platinum Visa is another possible option for rebuilding credit after a rough bankruptcy. It’s especially attractive if you’d rather not have a secured credit card that requires an upfront deposit. Credit One Bank will likely perform a hard credit check to determine your credit line based on your creditworthiness. The minimum credit line is $300, and there’s potential for credit line increases after a period of responsible spending habits. Keep in mind Credit One Bank’s Platinum Visa has a steep annual fee of $75 for the first year. After that, $99 annually ($8.25 per month). This may still outweigh the benefits of making an upfront deposit, but as a deposit may be eventually refundable, perhaps not. Other perks include:
Bottom LineIf you’ve filed for bankruptcy, don’t panic. There are ways to rebuild a solid credit standing over time using secured and unsecured credit cards. When you’re ready to start applying for a credit card, check for any pre-approval offers so you know if you’re likely to be approved for a card. Always read a card’s terms and conditions before completing a formal application. Look out for fees, minimum deposits, whether or not the issuer reports activity to credit bureaus and how much time is needed before being eligible for an upgrade to a better card. Most importantly, be patient as good credit isn’t built overnight. Find the Best Credit Cards For Bad CreditFrequently Asked Questions (FAQs)Can you file for bankruptcy on credit cards?Yes, you can include credit card debt if you file for bankruptcy. If your goal is to declare bankruptcy only for credit card debt, it’s not recommended as there are better debt relief options including debt settlement. Will applying for a credit card hurt my credit score after bankruptcy?You will likely lose a few credit score points if a card issuer performs a hard credit check to determine your eligibility for a credit card. If there is no credit check involved, you should not see any effect on your credit. Which are the best credit cards for bad credit?You can find our picks for the best credit cards for bad credit here. The best options tend to be secured credit cards or ones designed for people with poor or damaged credit history. Can you get a visa if you filed bankruptcy?There is no law that says that filing for bankruptcy will prevent the United States Citizenship and Immigration Services from approving your visa, green card, or citizenship application.
Does bankruptcy affect immigration status in USA?Filing a bankruptcy case won't affect your immigration status. Under federal law, you aren't required to have citizenship to file bankruptcy. Being an immigrant makes not difference.
Does bankruptcy affect immigration to Canada?At present, filing an assignment in bankruptcy does not affect your application for Canadian citizenship. Neither does filing a consumer proposal.
What Cannot be erased when you file for bankruptcy?Debts Never Discharged in Bankruptcy
Alimony and child support. Certain unpaid taxes, such as tax liens. However, some federal, state, and local taxes may be eligible for discharge if they date back several years. Debts for willful and malicious injury to another person or property.
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Can a bankruptcy stop you from getting a visa
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