Can I get a personal loan after bankruptcy?

Your chances of qualifying for a personal loan after a bankruptcy might become higher as time goes by. A bankruptcy will remain on your credit reports for up to seven to 10 years, but with effort, your credit scores can become healthier during that time and beyond.

Does bankruptcy affect my personal loan eligibility?

The bankruptcy option you chose has a different impact on your personal loan eligibility. Chapter 7 bankruptcy: Also known as a liquidation bankruptcy, Chapter 7 requires you to sell some of your assets to repay eligible debt. This type of bankruptcy can stay on your credit report for up to 10 years.

Can I get a post-bankruptcy loan?

A huge caveat to filing for bankruptcy is that you might find yourself at the mercy of lenders and financial institutions — especially if you’re planning on getting an unsecured loan — though it's not an impossible situation. With that said, we’ve drawn up a short guide on everything you need to know about getting a post-bankruptcy loan.