QUESTION

Can I get a personal loan doing install payments after I received my discharge papers and if I can how long do I have to wait to get a personal loan?

Asked on Mar 21st, 2017 on Bankruptcy - New Jersey
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5 ANSWERS

Commercial & Bankruptcy Law Attorney serving Powell, OH at Ronald K. Nims
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You can get a personal loan any time after you file the bankruptcy.
Answered on Jun 17th, 2017 at 10:19 AM

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Bankruptcy Attorney serving Las Vegas, NV at A Fresh Start
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The decision of whether to lend someone money belongs to each lender. There is nothing in bankruptcy law that says you must wait this long to borrow after a discharge or that requires a lender to issue credit to you.
Answered on Jun 13th, 2017 at 3:30 AM

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Yes, but be careful.
Answered on Jun 13th, 2017 at 3:28 AM

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Every lender has its own policies for how soon after a discharge they will make a new loan or grant credit. At a high-enough interest rate, you can find some entity to lend you the money you need fairly soon-but the interest rate will be sky-high. To fix your credit post-discharge, make it an absolute rule to pay every bill you receive, no matter how small, every month, without skipping any payments. In 24 months or so you will likely have improved your credit score enough to get a loan with standard interest rates.
Answered on Jun 13th, 2017 at 3:27 AM

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Bankruptcy Law Attorney serving Livingston, NJ
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As long as you have received the Discharge, yes you can.
Answered on Jun 12th, 2017 at 10:01 AM

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