Get a loan despite insolvency
Today, many private households are in debt, and some are even forced to file for bankruptcy. If you apply for personal bankruptcy, it means that you are certified that you are insolvent. This is usually a large accumulation of debt and debt that you can no longer pay. If you have actually applied for a personal bankruptcy, then it is almost impossible that you get a loan despite insolvency. Is there still a chance to get a loan despite personal bankruptcy?
How can you get a loan despite insolvency?
Normally a loan carries a very high risk despite insolvency. Often, although various options for credit are offered on the Internet despite ongoing personal bankruptcy, but often they are offers from dubious providers. Always you should therefore examine possible offers accurately and objectively and if necessary also have them looked at by a consultant. Because this will immediately recognize whether it is a fraud or not and can then warn the borrower. In addition, one should beware of loan offers with a much too high interest rate.
Because this also makes the loan automatically much more expensive and thus reduces the likelihood that you can pay back within the agreed term. Similarly, those offers are questionable, where you have to pay the agency fee in advance. And then it can happen that it does not come to the promised mediation and then you have made much more debt than before. Therefore, you should really apply for a loan in spite of bankruptcy only in absolute exceptional case.
What does the residual debt exemption mean in this context?
Even if the residual debt relief has already taken place, it is still difficult to obtain a loan despite insolvency. Because usually the insolvency remains for another three years in the credit bureau exist. If the bank then starts a credit bureau query, it will find that you have a negative credit bureau entry and then most likely decline a grant.
If you are for example in bankruptcy, then you have limited financial resources available, because everything that is pledged that will be forwarded to the insolvency administrator and then the creditors are paid proportionately. Therefore, it is also very difficult to pay then monthly installments for another loan. And then you should also be unemployed, then it is even more problematic, because then you can no longer serve the rates. And now the creditor submits legal action and then the discharge of residual debt is also endangered because it is forbidden to take out a loan during a bankruptcy and then be unable to service it.