Can I still obtain a loan after filing for bankruptcy?

Yes, you can still obtain a loan after filing for bankruptcy in California. Although it is more difficult to get a loan after filing for bankruptcy, it is still possible. When looking for a loan, lenders will consider the type of bankruptcy you filed, the length of time it has been since you filed, and your current credit score. If you filed Chapter 7 bankruptcy, you may be able to get a loan as soon as two years after discharge. If you filed Chapter 13 bankruptcy, most lenders will wait until you have three years of successful repayment before considering a loan application. Even then, you may find it difficult to get a loan with favorable terms. You will need to rebuild your credit in order to be eligible for a loan after filing for bankruptcy. This may include opening a secured line of credit and making regular payments in order to establish a good payment history. You should also check your credit report regularly to ensure accuracy and dispute any incorrect information. In addition, you should shop around for lenders who are willing to work with you. Many banks and credit unions have programs specifically designed for those who have filed for bankruptcy. There are also lenders who specialize in providing loans to individuals with low credit scores, even after bankruptcy. By rebuilding your credit and shopping around for lenders, you may be able to obtain a loan after filing for bankruptcy.

Related FAQs

What debts can I discharge in bankruptcy?
Can I discharge student loan debt through bankruptcy?
How will filing for bankruptcy affect my credit score?
What will happen to my co-signers if I file for bankruptcy?
How can I find a qualified bankruptcy attorney?
What kind of debt counseling is available before and after filing for bankruptcy?
What is the bankruptcy automatic stay?
Are there any exceptions to the automatic stay issued when filing for bankruptcy?
Do I have to pay taxes on any discharged debt?
Does filing for bankruptcy eliminate debts such as child support and alimony?

Can I still obtain a loan after filing for bankruptcy?

Related FAQs

Related Blog Posts