Bankruptcy Related

I Got the Courage to File Bankruptcy and Now I Want to Rebuild My Credit While Living Outside the U.S.

Written by Steve Rhode


Dear Steve,

I just started the process of declaring bankruptcy and man, it’s taken a few years for me to even work up the courage to get to this point. For me, bankruptcy is a chance for me to really start over, and focus on my financial future, as I have been barely able to make minimum payments the last 5 years.

I plan on moving to Spain next year and start a new career teaching English overseas, and getting a student visa while enrolled in a teacher development course. I plan on building a ton of savings as well before I get there.

My question is, rebuilding US credit whilst living abroad. I plan on opening new cc’s after bankruptcy is complete; is it easy/possible to rebuild credit while on a student visa living overseas? If I live 2 years overseas on a student visa, does that prolong the time the bankruptcy lives on my credit report?



Dear Erin,

I’m glad you finally reached the understanding that is really a legal fresh start to assist those in unsupportable positions.

The opinions people attach to bankruptcy today are almost opposite from the reality of the creation of bankruptcy.

“Most people assume today that America was in a rush to pass bankruptcy laws to allow its citizens the ease of discharging their financial obligations. America was interested in passing bankruptcy legislation to protect merchants and creditors who otherwise would have little ability to enforce or collect debts. It was understood that bankruptcy fostered the growth of commerce and not the avoidance of debt.” – Source

Your credit rebuilding goal should be easy to achieve even from Spain. Immediately after filing bankruptcy here in the U.S. you will get offers for credit. In fact, one of the most aggressive banks is Capital One.

With a U.S. bank account and address, you can apply for 2-3 credit cards in your name. All you need to do to rebuild good credit is to use the cards and pay them off on time. For all the details, see Easily Rebuild Your Credit After Bankruptcy.

READ  How do I keep track of our credit along the process of bankruptcy. - Rosi

If you get going on the rebuilding process before you leave, you will have no problems continuing your efforts from any place in the world where you can manage your accounts.


You are not alone. I'm here to help. There is no need to suffer in silence. We can get through this. Tomorrow can be better than today. Don't give up.

About the author

Steve Rhode

Steve Rhode is the Get Out of Debt Guy and has been helping good people with bad debt problems since 1994. You can learn more about Steve, here.

1 Comment

Leave a Comment

Scroll to Top