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by pedro 1968 on 13th May 2011
I was discharged from being a bankrupt a few years ago, will i be able to get a loan????????
by Candice Gallab answered on 13th May 2011
If you are currently bankrupt you will not be able to apply for any sort of credit. If you've been bankrupt, you can apply to Loanfinder as soon as you've had your discharge papers, however it's not always advisable to start looking for credit straight away as you may not have much success. It's best to give it at least 3 months before you start to look for a loan or a credit card.
It's good to remember that creditors will be able to see your bankruptcy on your credit file for 6 years. Unfortunately, this can put a lot of lenders off and you may not be able to get a loan with a really competitive APR. Additionally, if you do take out credit and you are a discharged bankrupt it's really important to make all your payments on time as it can significantly damage your credit rating if you don't.
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