Bankruptcy doesn’t have to be the end of the road. Here’s how to get a loan after you’ve been declared bankrupt.

Filing for bankruptcy isn’t an easy step for anyone to take. However, the most difficult process usually comes when you’re trying to rebuild your finances, your credit and your life. During your bankruptcy or after you’re discharged, you may find yourself in need of a loan, and there are lenders who might consider you for a second chance.

Check into Cash Loans

Check into Cash allows you to directly apply for a payday loan and have your cash when you need it.

• Min. Loan Amount: $50
• Loan Term: Varies by state
• Turnaround Time: 1–2 business days
• Total Costs: Varies depending on the amount and your state of residency.
• Must be 18+
• No security deposit needed

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Can I get a loan while bankrupt?

Possibly. You’ll be more limited in terms of the lenders you have to choose from, but there are options available to you. The fees and rates may be considerably higher on loan after bankruptcy, and you may be required to attach an asset as security or apply with a guarantor.

Which lenders accept applicants who’ve filed for bankruptcy?

See which lenders may approve your loan application even if you’ve previously filed for bankruptcy. In addition, see lenders that accept applicants with alternate incomes such as welfare or unemployment.

• Bankruptcy
• Unemployment
• Welfare

Provider	Generally accepted	Conditions
ACE Cash Express		Must not currently be a debtor in bankruptcy or intend to voluntarily file for bankruptcy.
Advance America		Full application determines whether it’s acceptable or not.
CashNetUSA		Discharge from bankruptcy is acceptable.
Cash Central		Full application determines whether it’s acceptable or not.
Check City		Bankruptcy that’s been discharged for 30 days is acceptable.
Check into Cash		Full application determines whether it’s acceptable or not.
LendUp		Full application determines whether it’s acceptable or not.
LendYou		Full application determines whether it’s acceptable or not.
OppLoans		Discharge from bankruptcy is acceptable.

Provider	Generally accepted	Conditions
ACE Cash Express		Must show proof of income.
Advance America		Must show proof of income, requirements vary by state.
CashNetUSA		Must show proof of income, requirements vary by state.
Cash Central		Must show proof of income, requirements vary by state.
Check City		Must show proof of income, requirements vary by state.
Check into Cash		Must show proof of income, requirements vary by state.
LendUp		Must show proof of income, requirements vary by state.
LendYou		Must show proof of at least $1,000/month income, requirements vary by state.
OppLoans		Must be employed for 3+ months and receive paychecks via direct deposit. New Mexico does not require direct deposit.

Provider	Generally accepted	Conditions
ACE Cash Express		Full application determines whether it’s acceptable or not.
Advance America		Full application determines whether it’s acceptable or not.
CashNetUSA		Benefits count as an acceptable source of income.
Cash Central		Retirement pensions and Social Security benefits count as an acceptable source of income.
Check City		Varies based on state laws.
Check into Cash		Varies based on state laws.
LendUp		Varies based on state laws.
LendYou		Full application determines whether it’s acceptable or not.
OppLoans		Fixed income is accepted, but not preferred.

Compare short-term loans you can apply for online

Be sure to visit the lender’s website or call their customer service line to confirm the eligibility criteria before applying to make sure they accept applicants in bankruptcy or with bankruptcy on their credit reports.

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Unfortunately, none of the short term loan providers currently offer loans in your state. Learn more about short term loans in your state to find an alternative. Reset

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Name	Product	Product Description	Maximum Loan Amount	Term of Loan	Turnaround Time	Requirements
Check into Cash Payday Loan		With 1,000 branches in 30 states, get $50 to $1,000 in days from this direct lender.	$1,000	Varies by state	1–2 business days	You must be at least 21 and an American citizen and have a bank account, email address and phone number.	Same rates everywhere Go to site More	Compare	loading Fetching your data...
LendUp Payday Loans		LendUp offers $250 loans for first-time borrowers. Good credit is not required. Visit the site to see if available in your state.	$250	7–30 days	generally receive the money the next business day	Be 18+ years of age and have a checking account that can accept electronic transfers.	Same rates everywhere Go to site More	Compare	loading Fetching your data...
CashNetUSA Loan		Apply for a short-term loan with an easy online application and dedicated customer service.	Varies by state	Varies by state	1 business day	You must be a US citizen or permanent resident, be at least 18 years old and have regular income and a bank account.	Same rates everywhere Go to site More	Compare	loading Fetching your data...
ACE Cash Express Payday Loans		Quick payday, installment and title loans with no prepayment penalty and a 72-hour satisfaction guarantee. Funds can be loaded on an ACE Elite™ Visa® Prepaid Debit Card.	Varies by state	Varies by state	Generally receive the money the next business day	Must be 18+ years old, have a steady source of income and a checking or savings account. Must not be a debtor in bankruptcy.	Same rates everywhere Go to site More	Compare	loading Fetching your data...
LoanByPhone Payday and Installment Loans		This mobile lender offers convenient cash loans. Apply online or by phone.	$3,000	Varies by state	1–2 business days	Must be 21 years old and have a Social Security number, a regular source of income, a valid email address, an active checking account and a phone number.	Same rates everywhere Go to site More	Compare	loading Fetching your data...
BadCreditLoans.com		With straightforward, simple qualifications, these loans offer easy approval for people with poor credit.	$5,000	3 to 36 months	Varies	Depending on lender requirements, people from all 50 states may not be eligible for a personal loan.	Same rates everywhere Go to site More	Compare	loading Fetching your data...

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Can I get a loan if I have a bankruptcy on my credit report?

Having a bankruptcy on your credit report may look bad to most traditional lenders, but lenders offering short term loans tend to be more lenient in their eligibility criteria. You may want to consider applying for a bad credit loan to increase your chances of approval. Check out the lenders in our comparison table below to see the requirements.

What kind of bankrupt loans are available?

If you’re in need of financing and you’re currently bankrupt or have a bankruptcy listed on your credit report, the following loan options might be an available to you

• Payday loan. These are short term loans up to $2,000 with repayment terms between two weeks and one year. Lenders have flexible lending criteria, and while they won’t all consider bankrupt applicants, some will.
• Bad credit personal loan. Bad credit personal loans are available from certain lenders, some for large amounts up to $10,000.
• Auto title loan. Secured loans can be easier to be approved for than unsecured loans as they are less of a risk to a lender. You can consider an auto title loan and attach your vehicle to the loan as security.
• Personal overdraft. Your current bank may be willing to approve you for a small overdraft if you have a good history with the bank. This allows you to withdraw cash above your available balance.

Find out if short term loans cause bankruptcy and how to avoid defaulting

How can I be approved for a bankrupt loan?

While there are lenders who will consider applicants who are in bankruptcy or who have previously been bankrupt, filling out the application isn’t all it takes to be approved. Here are some of the criteria that’ll likely be in place when you’re considered for a bankrupt loan:

• Ability to manage your repayments. This is the main requirement lenders have when considering you for a loan. Does your income allow you to easily manage your repayments after taking into account your liabilities and debts? If your repayments will be manageable and you meet the lender’s other criteria, you’ll be able to apply.
• Employment. You may be required to be employed, although there are some unemployed loans available. Different lenders have different restrictions. Some might not consider you if you’re self-employed or work part-time. Check with the lender before applying.
• Welfare. While you may still be considered for a loan if you receive welfare payments, lenders often have restrictions as to what percentage of your income can be made up of benefits (usually 50% if the restriction is in place). Usually, your loan repayments can’t exceed a certain percentage of your welfare income.
• Income. How much do you earn? Lenders often have minimum income requirements in place. They may allow your income to be from employment and welfare or may need it to be solely from regular employment.
• Assets. For loans after bankruptcy, the lender may require you to secure an asset to the loan as a guarantee in case you default.
• Guarantor. If you don’t meet the lender’s criteria, you may be able to apply with a guarantor to increase your chances of being approved.

How does bankruptcy affect my credit and loan eligibility?

Are you currently in bankruptcy or have a bankruptcy on your credit report? Understanding the effects it has on your credit and your loan eligibility is important.

• Your credit report. Chapter 7 bankruptcies remain on your credit report for up to 10 years. Other types remain on your credit report for up to 7 years.
• Your credit score before bankruptcy. If you had poor or bad credit before you declared bankruptcy, then your credit won’t take a huge hit. This means lenders will take into account your history before and after bankruptcy and make a decision based off all the facts.
• Loan eligibility. Lenders may view your application as risky since you’ve demonstrated your inability to pay back your debts in the past. Once you find a lender willing to provide you with a loan, make sure you’re able to repay it in order to avoid falling into a debt spiral again.
• Higher interest. Be aware that you can’t file for bankruptcy again for a few years. This means that predatory lenders–both for cash advances and credit cards–will offer you money at very high interest rates. If you can avoid taking out a loan, you should. Otherwise, you might find yourself stuck in another, often worse, debt spiral.
• Building a positive payment history. If you do decide to get a loan, pay it off on time! This will help rebuild your credit after bankruptcy, and that means you’ll have access to better rates down the road.

Are payday loans available in my state?

Frequently asked questions

• Do I have to disclose to lenders that I'm in bankruptcy?

  If the lender’s application includes a question regarding bankruptcy, it can be considered fraud if you answer untruthfully. Besides, lenders can see if you have a bankruptcy on your credit report. You can review different lenders’ eligibility criteria and call their customer service lines in order to find out which ones would consider bankrupt applicants before applying.

• Are there loans that don't require credit checks?

  Yes. You can read about more about no credit check loans on finder.com and see if it’s a good option for you.

• Can I apply for a loan to travel or take a vacation?

  Some loans have restrictions on what they can be used for, while others don’t. Most short term loans don’t have these kind of restrictions. Though it’s important be sure that you’ll be able to make the necessary repayments before taking on more debt.