How to Get a Personal Loan While in Chapter 13 Bankruptcy

Your unique circumstances will determine whether you are eligible for a loan.

You Might Need Credit During Bankruptcy

You won’t lose the ability to pay for your daily living expenses even if you file for bankruptcy. You might need a credit or a loan for unexpected or unanticipated expenses.

  • New car
  • Credit cards
  • Student loan – You, your spouse, or your child might need a student loan in order to finance education pursuits
  • Home purchase loan
  • Refinance mortgage loan on an existing home
  • Medical expenses – The medical costs are considered to be a new debt if you become sick or visit your doctor for treatment
  • Taxes – Even though you are in bankruptcy, your taxes must still be paid. All taxes owed at the end of the year are new debt, which is usually not covered by the Chapter 13 plan.
  • Emergencies – There are some things that can’t wait. If your roof is leaky, you must have it repaired.

What Companies Would Approve Credit to Me After I Declare Bankruptcy?

Many lenders are willing to lend money or provide financial options for people who have filed for bankruptcy. There are often trade-offs such as higher interest rates and fees or collateral.

This article was written by Alla Tenina. Alla is a top personal injury attorney in Los Angeles and the founder of Tenina law. She has experience in bankruptcies, real estate planning, and complex tax matters. The information provided on this website does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available on this site are for general informational purposes only. Information on this website may not constitute the most up-to-date legal or other information. This website contains links to other third-party websites. Such links are only for the convenience of the reader, user or browser; the ABA and its members do not recommend or endorse the contents of the third-party sites.

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