Getting a Loan After Bankruptcy

Many people believe that if they file for bankruptcy, there is no chance that they will ever be able to get a loan in the future. Fortunately, this is not necessarily true. While creditors are likely to be skeptical about giving a loan to someone who was recently in a bankruptcy case, lenders are getting more and more likely to consider the specific circumstances of a case. For example, if a person is forced to file for bankruptcy because of unexpected medical bills, they may not have too much trouble getting a loan. On the other hand, someone whose bankruptcy was caused by irresponsible credit card spending may have a more difficult time.

You are more likely to be able to get a loan after a smooth bankruptcy filing than one that is long and drawn out. The experienced New Orleans bankruptcy attorneys of Kervin & Young can help ensure that your financial recovery is as successful as possible. To learn more, contact us today at 504-599-5906.

Factors That Will Help You Get a Loan

These are a few of the factors that could make it more likely that you will be able to secure a loan after a bankruptcy filing:

• A good credit history prior to your bankruptcy case
• A substantial down payment on the loan
• A good, steady job

None of these things will guarantee your ability to get a loan post-bankruptcy, and some lenders will still be reluctant to consider your request, but there is hope.

Contact Us

If you are considering filing for bankruptcy, good legal representation and advice is very important. Contact the New Orleans bankruptcy lawyers of Kervin & Young at 504-599-5906 to discuss the facts of your case today.