Editor's choice: OppLoans Installment Loans
- Easy online application
- Quick approval
- Fast funding
- Long repayment terms
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Bankruptcy can damage your personal credit score for as long as 10 years. While it’s possible to find a loan when you have bankruptcy on your credit report, you could be limited to lenders that can rates as over as 300% APR. Our team reviewed over 260 personal loan and payday lenders to help you find the right type of financing.
These personal loan, installment loan and payday loan providers that might accept you even with borrowers Chapter 7 or Chapter 13 bankruptcies on your credit report.
|Provider||Type of loan||Loan amounts||Requirements||Finder rating|
|Monevo||Personal loan||$500 to $100,000||Credit score of 450+, legal US resident and ages 18+.||★★★★★|
|Opploans||Installment loan||$500 to $5,000||Direct deposit, meet minimum income requirements, live in eligible state||★★★★★|
|CashNetUSA||Payday loan||Up to $500||Regular source of income, bank account, US citizen or permanent resident, age of majority in your state||★★★★★|
|Check City||Payday loan||Varies||You must have a checking account, photo ID and steady income.||★★★★★|
|Cashadvance.com||Payday loan||$100 to $1,000||Employed, $1,000+ monthly income after taxes, US citizen or permanent resident, ages 18+|
|OneMain Financial||Personal loan||$1,500 to $20,000||Established credit history, US citizen or permanent resident, age of majority in your state||★★★★★||Read more|
|Mariner Finance||Personal loan||$1,000 to $25,000||Valid bank account, established credit history, live in a state serviced by Mariner Finance, US citizen or permanent resident, ages 18+||★★★★★||Read more|
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 interest rates may be considerably higher on a loan after bankruptcy, and you may be required to attach an asset as security or apply with a guarantor.
Be sure to visit the lender’s website or call its 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.
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.
You can get a personal loan after bankruptcy with an online lender, credit union or community development financial institution (CDFI). Banks usually consider people with past bankruptcies to be too risky to offer loans. But some credit unions and CDFIs offer payday loan alternatives to all credit types, usually with lower rates than payday lenders.
Some online personal loan providers that specialize in bad credit also accept bankrupt applicants, as do payday lenders. But not all do. Double-check to make sure you qualify before submitting your personal information.
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.
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:
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.
Answers to common questions about getting a loan after bankruptcy.
How long you have to wait after filing Chapter 7 bankruptcy depends on the lender. Generally, you have to wait until the bankruptcy proceedings are over to qualify with any lender.
After that, you can apply for a loan with a bad credit lender. However, most options are off the table for 10 years — the length of time a Chapter 7 bankruptcy stays on your credit report.
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.
Yes. You can read about more about no credit check loans using our guide and see if it’s a good option for you.
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.
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