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Originally Posted by Johnny Pyro
Hi NoSoup,
I filed chapter 7 banruptcy about a year ago. I need a loan for about $3000(Personal loan). No bank wants to hear me. They said I would need a strong co-signer. I don't have one. I was $28,000 in debt by the time I was 21. My question is, how would I get a loan, if I can even get one? Are there any special programs I can go through to better my chances. I am ignorant to this subject. Please help me!  |
Well, a couple of questions for you -
Have you attempted to re-establish credit since your bankruptcy?
Do you have anything that you can use as collateral? (Life Insurance, Vehicle with equity in it, Stocks/Bonds, ect)
What do you need the money for, is it worth paying a completely ridiculous amount of interest on?
$28,000.00 is a lot of debt, but whether or not you declared bankruptcy should have been more dependant on the type of debt that you had.
For instance, I am well over $250,000.00 in debt and I am only 21 as well...
However, the vast majority of that is because I just purchased a duplex, so I feel pretty comfortable with it, as the duplex is an investment.
Although it's a bit late, what type of debts did you have? Are you avoiding putting yourself in the same situation again?