Obtaining a Personal Loan after Bankruptcy

Bankruptcy loans are recommended only for discharged bankrupts, only after their case has been discharged and their creditors have been paid. Also, most lenders don’t consider bankruptcy personal loan applications if your bankruptcy has been discharged in the recent past (last two years). Lenders will find perceive you as a high risk option and this makes obtaining a personal loan after bankruptcy difficult. If you have chosen Chapter 7 Bankruptcy you must wait for 2 years to apply for a loan and in case of Chapter 13 Bankruptcy you need to first pay the full amount to all your creditors before applying for a loan. You need a good credit history if you want to get yourself a guaranteed approval loan after bankruptcy. Ensure that your credit rating sparkles by paying all your bills on time and requesting your creditor/credit company to testify that you are no longer a risky borrower. If you are threatened by the process of personal loan after bankruptcy, relax! Help is at hand in the form of various online lending agencies who will help you with information and advice on bankruptcy IVA and bankruptcy loans.