Getting a loan after bankruptcy can be hard. Not only do the banks usually not want to deal with you because of your financial liabilities, but you really don't have the best credit score anymore either. Bankruptcy is sometimes necessary, though, so how can someone move on after these financial difficulties? Answer: a car title loan.
Did you know that most people in the United States have at least one loan in their name? That's because A) life is unpredictable, B) you need credit to get credit, and C) normal income doesn't always pay the bills. When the cost of living gets too high, or the cash flow gets too low, consumers need solutions whether they've filed for bankruptcy or not.
Meanwhile, unscrupulous creditors and scammers prey on people who have recently filed. They offer unfathomable loans with unreasonable terms and wonder why the borrowers can't pay them back. This vicious circle can cause major problems, especially if you're barred from filing bankruptcy again. So, this is what you need to know to avoid all that.
What to Know About Getting A Loan After Bankruptcy
Getting a loan after bankruptcy is not out of the question. Just because you've taken care of major debts through the court system doesn't mean you're out of the woods completely. In fact, you may not be able to include some debts in your bankruptcy filing, which means they're going to stick around until you pay them off.
4 Helpful Tips for Getting A Loan After Bankruptcy
Paying those debts in full may require a loan from a reputable lender, but how do you convince that lender to give you a shot? Here are 5 helpful tips to make it easier:
1. Calculate Exactly How Much Cash You Need.
It's easy to get what you need when you know what it is. So, write down all your expenses and compare that with your income. Then, look at those numbers to determine how much cash you require right now. In Delaware, you can get as much as $15,000 on the same day you apply.
2. Know Which Type of Bankruptcy You Filed.
This may sound silly but knowing which chapter of bankruptcy you filed can help you figure out which debts are still on your report. Failing to pay those on time can be detrimental because there's no other way out. Thus, know your situation better than the banks to avoid getting told 'no' all the time.
3. Get All of Your Documents Organized.
Before applying, learn what you need to get a title loan. Gather what you need before approaching the lender. If you're getting a title loan, clean up your vehicle ahead of time to make it look nice during the appraisal.
4. Get Money Now from Delaware Title Loans, Inc.
Delaware Title Loans, Inc. is a leading provider of fast title loans. We have a simplified application process and can get you approved on the same day you apply despite your recent bankruptcy. So, reach out and talk to an agent as soon as possible, or visit our title loans page for more information.
NOTE: You must be at least 18 years old to qualify for title loans in the state of Delaware.
Keep in mind that getting a loan after bankruptcy is a big responsibility. So, choose a loan option that fits your budget and lifestyle, and always inform the lender ahead of time if you can't pay your bill on time. Meanwhile, enjoy retaining possession of your vehicle if the loan remains in good standing.
A Popular Method For Getting A Loan After Bankruptcy
Follow these two simple steps to receive fast cash in your bank account today.
Step 1: Apply Online For Faster Processing.
Go to the Delaware Title Loans, Inc home page and fill out our short form. An agent will contact you within 30 minutes with a preliminary approval if you qualify. By the way, that agent can even travel to you so you don't have to leave the house.
Step 2: Have Your Required Items Ready.
The agent will want to see these things upon arrival:
- The vehicle for an inspection
- The lien-free title to it
- Your driver's license or photo ID
Get a Delaware Title Loan
It's not hard getting a loan after bankruptcy - that is, if you go to the right place and use a simplified method. Get a title loan today to get the fast cash that you need!
Note: The content provided in this article is only for informational purposes, and you should contact your financial advisor about your specific financial situation.
