How Do You Get A Secured Personal Loan After Bankruptcy?
Getting a secured personal loan after bankruptcy can be challenging, but there are a few simple steps than can make it easier to get credit. Lenders are more willing to extend secured loans that are backed by collateral that can be seized if the contract is not paid as agreed. With enough income and collateral, you can get a loan even after filing bankruptcy. Decide what collateral you will use for your secured loan. Acceptable collateral includes home equity, real estate, savings accounts, stocks, certificates of deposit and retirement accounts. Apply for a secured loan at your local bank or credit union. Bring proof of income and evidence of your collateral. If you are not approved for a secured personal loan after bankruptcy, consider asking a friend or family member to co-sign the loan. Be sure that you’re able to pay the loan in full and on time, as you are putting your co-signer’s credit history at risk if you default on the transaction. Apply for a personal loan with American Ge
