Getting A Loan After Bankruptcy
If you have filed for bankruptcy, it’s important to start rebuilding your credit as soon as possible. One of the easiest ways to do this is by obtaining a credit card. If you qualify, you can get an unsecured credit card, use it responsibly, and pay off your balance in full every month. If your credit is poor, you might start with a secured or prepaid card. Using your new card and making timely payments helps re-establish your credit history — one of the biggest factors in improving your credit score.
Can You Get a Loan After Bankruptcy?
One of the most common questions after bankruptcy is: Can I still borrow money? The short answer is yes, but it depends on the type of loan. Before applying, gather key financial information. Start by checking your credit score — you’re entitled to a free credit report from all three major bureaus once per year.
You should also review your debt-to-income ratio — how much of your income goes toward monthly debt payments. Finally, note when your bankruptcy was discharged. The more recent the discharge, the harder it may be to obtain certain types of traditional loans.
Exploring Loan Options After Bankruptcy
Once you understand your financial situation, you can begin to explore what types of loans are available. For those who need fast access to cash, a car title loan is often the easiest option. A title loan is secured by your vehicle’s title and doesn’t depend on your credit score. This makes it a great choice for borrowers with a recent bankruptcy or limited credit history.
Why Choose a Car Title Loan from Embassy Loans
At Embassy Loans of Florida, qualifying for a car title loan is simple. If you own a vehicle that’s paid off and less than 10 years old — and the title is free and clear of liens — you can likely qualify. Since credit history isn’t a factor, all you need to do is complete an application, verify your identity, proof of residency, and your vehicle title. In many cases, borrowers can receive their funds within just an hour.
If you’re recovering from bankruptcy and need quick access to funds, Embassy Loans can help. Apply online or contact 833-839-2274 to learn more about easy, fast, and secure car title loans.
