How to Get a Loan After Filing Bankruptcy

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To get a loan after filing bankruptcy, be upfront about the bankruptcy and demonstrate a stable income and a positive debt to income ratio. Discover how people who have filed for bankruptcy can still get loans once they get back on their feet with information from a family lawyer in this free video on bankruptcy.

Part of the Video Series: Bankruptcy Questions
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Video Transcript

You've just been discharged in bankruptcy and you find that you are still in a posture or position of having more debts than you have the ability to pay. But you do have a stable income and you are willing to make payments. But you need a loan. Hello, I'm Robert Todd and I'm here to answer the question. How do you get a loan after filing bankruptcy. Well you may be surprised to learn that after you have filed for bankruptcy and you have been discharged from debts, you may actually be considered a good credit risk by many lenders. The important part to remember is when you apply for a loan, to be honest and to list your bankruptcy so that they can check you out. But more importantly when you apply for a loan after bankruptcy, you want to be sure that you can demonstrate a stable income and that your debt to income ratio hasn't become dangerous again. In other words, you want to be able to demonstrate you're making enough money to make the payments on whatever loan you are applying for. I'm Robert Todd and thank you for watching.

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