On the Blog
Free Evaluation

Your own Personal Bankruptcy
Evaluation... In 5 Easy Steps!

Our Free Evaluation Tool
Free eBook

Download the Essential Guide for
Anyone Considering Bankruptcy.

Get our Free eBook

Getting A Loan In Bankruptcy

By Christopher Lee August 28, 2012 | Posted in

loanIf you have experienced a financial hardship and are working to resolve your debts in bankruptcy there are few things you should know about future credit. While bankruptcy doesn’t prevent you from getting new credit, you may find that doing so can be  more challenging.

Know Your Place

If you are currently in the Dallas bankruptcy process you will not be able to get a new loan. Why? Because doing so will affect your bankruptcy case. Getting a loan is a form of income and income directly affects your bankruptcy case by boosting your reportable income level. If you filed for Chapter 7 bankruptcy, you may find that any change to your income, such as a pay raise or new loan, could disqualify you from eligibility. In a Chapter 13 case, an increase in reportable income often results in an increase in the amount you are required to pay as part of your plan.

If you have completed your bankruptcy case getting a new loan is vital to rebuilding a good credit standing.  Some people find that credit after bankruptcy is more difficult than before. This is not because of your bankruptcy, rather the defaulted debts you carried before resolving them in bankruptcy. In any case, finding a good lender is most important. Avoid secured loans and look for a small line of credit that you can manage. There are plenty  of lenders looking to give loans to post-bankruptcy consumers, but they may not carry the best interest rate or conditions. Take your time to find a low limit, low interest account that you can use to show a positive payment history.


Which of the following has happened to you RECENTLY?(select all that apply)

  • Creditor Harassment
  • Disability or Illness
  • Divorce
  • Foreclosure
  • Lawsuits of Judgments
  • License Suspension
  • Loss of Income
  • Loss of Job
  • Repossession
  • None of the above
  • Other

 Est. Total Debt


What to do now? : Simply add up ALL of your total debt from the items on the left( estimated is fine) and enter the total in this box. Then click NEXT.


Share This Page email share facebook share linkedin share google plus share twitter share

Comments are closed here.

Most Recent Blog Post
Blog Menu
Site Menu


Everybody I have encountered and meet with at Lee Law Firm has been positive and encouraging. And that is exactly what I needed because nobody looks forward to going through bankruptcy. The staff was honest about my situation and put my mind at ease about the process, and for the first time in months I was able to relax and focus…

on getting out of my financial situation with hope of starting over. I would recommend Lee Law firm of friends and family because I feel like they have my best interest at heart.

-- Brad H  

We help good people through bad times

Dallas Office

5910 North Central
Expressway Ste 1448
Dallas, Texas 75206
Phone: (214) 234-8080
Hours: Mon-Sat
8:30am - 6:30pm

Fort Worth Office

4150 International Plaza
Suite. 102
Fort Worth, Texas 76109
Phone: (817) 616-1606
Hours: Mon-Sat
8:30am - 6:30pm

Hurst Office

Principal Office
8701 Bedford Euless Rd.
Suite. 510
Hurst, Texas 76053
Phone: (817) 616-1150
Hours: Mon-Sat
8:30am - 6:30pm

Wichita Falls

2700 Midwestern Parkway
Suite A
Wichita Falls, TX 76308
Phone: (940) 202-1555
Hours: Mon-Sat
8:30am - 6:30pm