If your financial situation was so dire that you had to file for bankruptcy, you probably understand the effect that it has on your credit history. After you have had a bankruptcy discharged, your credit score takes quite a tumble, although it most likely was not too great to start. A common question among those who have filed concerns the ability to borrow money. Many people who file for bankruptcy soon after find themselves in a position to begin rebuilding their lives. Sometimes, they need a little help though. Here are a few ways that those who have filed a bankruptcy can borrow money.

Check Your Credit Score

You will need to monitor your credit score to understand just how bad it may be. Each year, you are entitled to one free copy of each of the three reports from the three different credit reporting bureaus. You can also subscribe to a credit monitoring company for a small fee if need. However you do it, just make sure you keep an eye on your credit score. It will play a role in your ability to borrow.

Reapply For A Credit Card

You can attempt to reapply to credit card companies who may or may not decide to offer you a credit limit. Even if it is just $500, it is a start to rebuilding your credit. Use the credit card to buy essentials, like gas for instance, and then pay the bill in its entirety each month. This establishes a solid payment history and can help to increase your credit score.

Consider A Car Title Loan

If you need a few thousand dollars and have the means to repay it quickly, you can look into a car title loan. Embassy Loans of Florida has helped thousands of customers borrow using their vehicle’s title as collateral. If you own a vehicle that is paid off (or in some cases almost paid off), you can qualify. Auto title loans are not based upon credit and are a little easier to obtain.

You fill out an application, submit a few pieces of documentation, and the title loan company will establish a value for your vehicle. You will normally only be able to borrow about 50 percent of the value of the car or truck, but Embassy Loans, for example, can process your loan in about an hour. If you or any borrower fails to repay the loan, the lender can take possession of your vehicle and try to sell it to recover its losses. Still, it’s an easy way to borrow money after a bankruptcy.