Need A Loan After A Bankruptcy - Possible If You Have Equity
After a bankruptcy, you will probably need to wait about two years before most lenders will give you any money. They calculate that it will probably take about that long to begin to get reestablished financially. So, in the interim, you will want to be careful to build your credit rating and do nothing to make it any worse than it is. Also, look over your credit report and see if there is anything on it that is not correct. If there is, work to get the necessary corrections before you apply for any loans.
The good thing is that your creditors know that you want to keep your house. Other things may have been lost but you have kept the house. They also figure that you still plan to keep it - even after they issue you a loan. That gives you some stability in their eyes, and even makes you a rather good risk. Even if you should decide to not make the payments, they still will have the house to recover their losses.
This makes it look rather good to them. As long as other things look good, like you've had your job for a while, make a decent salary and do not have a lot of other debt you are paying on now, then you may very well be able to get the loan you want.
Even then, you may still want to check around to make sure you get the best deal. One way to do this easily, is to apply online and get several quotes from a broker. This way you just fill out one application and you may receive several offers. It would be a good idea to see several offers, and compare them to find the best option.
Be sure that you will not be able to get really good terms - at least not nearly as good as someone with good credit. You will most likely have not only higher interest, but shorter repayment terms, too. They will also cut down on the size of the loan you can get, too.
A possibility exists, though, to work on getting a better loan. When you find someone will give you a loan, make it a small one. Get one that you can pay back in a short time. This way, you can start to rebuild your credit and get a larger one on better terms before long. The bankruptcy mark will stay with you for a while, but you still can have access to some of the loans you may need.
Related Tags: consolidation, loans, interest, funds, apr, lenders, apply, payments, debt. bankruptcy
Joe Kenny writes for SelectLoans.co.uk, a UK personal loan comparison site, visit us today for information on all loan topics including debt consolidation loans and links to leading UK providers.
Our Site: http://www.selectloans.co.uk/
Recent articles in this category:
- The Secrets to Getting Low Down Payment Car Insurance
Upon purchase of a new car, there is almost always a requirement to buy an auto insurance policy as - The Wisdom Behind Auto Insurance Comparison Quotes
No one in his right mind would not go for a good deal. In fact, everyone is out on their feet and ru - The Benefits of Auto Insurance Comparisons Florida
Insurance can be expensive. This is something everyone knows about especially in the sunny state of - Auto Insurance Florida: The No-Fault Policy
There are different kinds of car insurance offered by a wide range of providers today. Different sta - Finding the Cheapest Auto Insurance Companies
Everyone is asking and searching for the cheapest auto insurance companies available today. Consider - How do You Compare Private Health Insurance Cover in Australia?
Deciding what is the best and most affordable private health insurance cover can be easy if you take - How Payment Protection Insurance Was Mis-Sold
For over six years the issue of Payment Protection Insurance (PPI) and how it was mis-sold to custom - Finding Quotes For Auto Insurance Online
One of the many concerns when you are shopping for auto insurance is being able to get access to quo - How You Can Find the Best Auto Insurance Online
When it comes to renewing your car insurance you are going to quickly discover that there are a numb - Guidelines For Searching For Auto Insurance Online
The internet can be a great source of discounts and values related to auto insurance. However, many
Most viewed articles in this category:
- Trading Forex With Pivot Points
Forex Pivot Point Trading are used today by Forex Traders and are calculated on the previous days mo - Where To Search For Free Grants
Where do you look for free grants? The search must be thorough or it could be an exercise in futilit - The Connection Between High Blood Pressure and Salt
We are a society of Salt Addicts. It cannot be denied. When you look at the things we do and the pla - Tips For Avoiding HYIP Scams
Before knowing about HYIP Scams, refer to the functioning of HYIP or "High Yield Investment Programs - Getting Credit After Bankruptcy
Consumers do not have to live sans credit following a bankruptcy. By following certain steps consume - Tips For Choosing A Credit Card
Are you looking for that perfect credit card? If so, you may be confused about what exactly to look - Cheap Car Insurance For Teens Online
Many elements determine a car insurance policy. Car insurance companies look at the person's age, hi - What Exactly Is Free Grant Money?
You can apply for free grant money from various government agencies. But where exactly does this mon - Small Business Owners Marketing and Customer Service
Marketing can be time-consuming, but it doesn't have to be hugely expensive now, thanks to the Inter - Apply Online For A Credit Card - How To Choose A Card?
The best type of credit card for you will be dependant on how you intend to use the credit card. Are