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What Happens After a Personal Loan Bankruptcy Discharge?

Sawin & Shea

When filing for bankruptcy, you can discharge certain types of personal loans, meaning that you’re no longer legally responsible for paying off the debt. If you’re considering filing for bankruptcy, you need to know what personal loans you can discharge and which filing method suits your financial situation.

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Getting Approved for a Loan After Bankruptcy

Sawin & Shea

Many people assume that because they have filed bankruptcy, their credit is ruined, and they will not be able to qualify for any loans. There are a number of steps you can take to improve your credit score and to make it likely that you can be approved for a loan. 15% Length of credit history.

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Does Chapter 13 Wipe All of Your Credit?

Sawin & Shea

Chapter 13 bankruptcy is an invaluable financial tool for those struggling with overwhelming debt, and it can pave the way for a fresh start. Unlike Chapter 7 , Chapter 13 bankruptcy allows you to avoid liquidating your non-exempt assets. What Is a Chapter 13 Bankruptcy Filing?

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560 Credit Score

Better Credit Blog

There are a lot of factors affecting your credit score , with some carrying more weight than others. Bankruptcy. The issues above can hinder your access to both revolving lines of credit and installment loans. You should also note that you’re more likely to get approved for a used car loan than a new car loan with a 560.

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How to Establish Credit with a Credit Builder Loan

Better Credit Blog

Trying to get approved for credit can be a sort of Catch-22: Creditors want proof that you’ve handled a credit card well before, but without a credit card already in hand it can be hard to show you’re a good risk. What Is A Credit Builder Loan. How Credit Builder Loans Work.

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10 Reasons You Were Rejected for Credit

Credit Corp

It’s a common scenario: You apply for a personal loan or credit card and get denied. The reason seems shrouded in mystery, and you receive a letter with language such as “lack of recent installment loan information” or “proportion of balances to credit limits.” Card Details +.

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620 Credit Score

Better Credit Blog

Here’s the outlook for a 620 credit score: Credit range: Fair. Personal loan: Limited options. Auto loan: Limited options. Unsecured credit cards: Limited options. Secured credit cards: High approval. Several credit issues can result in a score of 620. Debt consolidation loan.