Why do people who filed bankrupt get better interest rates?

Question by : Why do people who filed bankrupt get better interest rates?
My friend filed for bankruptcy a year ago and she already bought a brand new car with a great 2% interest rate and she also got a Discover credit card with a good interest rate. I don’t understand. I’ve never filed for bankruptcy and my credit is good, but my interest rate on my vehicle is 4% and my credit cards have a higher interest rate as well. I don’t’ think its fair how someone who has filed bankrupt gets better interest rates! WHY and HOW?

Best answer:

Answer by Cameron
bankruptcy no longer carry the same ideas as it did back in the 80’s and 90’s

you will notice a difference in mortgages but for other lending services, it may not matter that much

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