Loans despite bankruptcy are basically a double-edged sword. There are credit options, but their use is subject to strict legal requirements. In the case of personal bankruptcy, the creditors affected by the bankruptcy proceedings can also cause problems.
Loans despite bankruptcy – a difficult starting point
The starting point for actually granting loans despite bankruptcy is extremely bad. Being insolvent means nothing other than being insolvent. Only the need for life is attachable. In personal bankruptcy, any income beyond the unencumberable portion must be passed on to the administrator. The administrator divides it among the creditors. In addition, all attachable property and rights have been included in the bankruptcy estate. Collateral for a loan can therefore no longer be offered.
The negative private credit checker entry of the current bankruptcy finally ends all credit opportunities with the usual loan providers. This excludes loans from the house bank as well as a loan from the mail order business.
The last remaining chance of a bank loan would be a loan without private credit checker, but even with the risk loans, the providers refrain as soon as they become aware of the bankruptcy. Nevertheless, nobody can keep the private insolvency proceedings secret. The bankruptcy must be promptly communicated to any potential lender. Only if the loan comes about under this sign is it legal. If the information is suppressed, even if it was not asked for in the application, it is a matter of credit fraud.
Credit risks in the course of personal bankruptcy
A reputable credit provider who has been properly informed about the ongoing personal insolvency proceedings will hardly be able to grant a larger loan amount. Offers for loans in spite of bankruptcy, which are beyond the scope of a microcredit, should be examined in particular. It is probably a dubious provider. If advance payment is required or the service provider expects the current account to be transferred to another provider, caution is advised.
Offers to improve credit opportunities through savings contracts, insurance or credit card contracts are usually dubious. The agent receives an agency fee for the new customer. Thanks to the additional payment obligation, the hoped-for loan moves a little further away. A requested advance payment for the performance of the agent is proof of an unfair offer. Reputable credit brokers only receive a performance fee.
Remaining credit opportunities with bankruptcy
It would be conceivable to get a personal loan. The credit attempt in one of the two market-leading portals costs around USD 10. If a loan is actually approved, the repayment must under no circumstances go wrong. If a creditor of the insolvency proceedings gets “wind” before the debt relief, he can refuse to give his consent.