Getting a loan after bankruptcy

Jongeorge

Am looking a applying for a loan once my bankruptcy has come off in June as need to get a new car ready for when my wife gives birth so we have a car we can trust
I have been rebuilding my credit file over the last few years
I have 1 cc and 1 catalog
Nothing on the catalog and 2500 on the cc
What do people think of me charce of getting a loan and should I tell them I was bankrupt

Gaz83

... what's your question?

Pixie5740

Do you have a question?

Edit: Snap

Tixy

Once your bankruptcy and the debts associated with it all come off your file then potential lenders performing a credit application search won't know you were bankrupt.

And its not a question that is often asked for personal loan applications.

Probably best not to apply to lenders that were included in your bankruptcy.

If you can pay off your credit card before you apply for a loan that may improve your chance of acceptance.

Jongeorge

sorry iPad posted it before finishing

Jon_B_2

2500 on a cc and already looking for a loan. Why do I fear history repeating itself?

Jongeorge

I understand your worries Jon b I really do I have leant a lot from my mistakes and the main reason for wanting a loan was to but a new car for new family and the reason I had to go bankrupt in the first place was I lost my job after going into a iva and getting done over by the iva company.
I was paying 97p in the £ back under I iva and once I lost my job the company refused to talk to me about it and it took them 3 years and a lot of phone calls from me to get bankrupt

jonesMUFCforever

If and that is a huge question, you do get a loan what happens should you lose your job again before the loan is repaid??
Having a plan B is a must IMO.

Gaz83

You're not yet out of bankruptcy and having £2,500 on a CC indicates you're still living outwith your means.

Getting a loan is a terrible idea.

DCFC79

I'd get the card paid off and get some savings in the bank.

Have you looked at you finances with paying the card off and a loan.

Red-Squirrel_2

You don't need a new car because you're having a baby, thousands of parents have second hand cheap runarounds, and replace them when needed.

Congratulations on the pregnancy, but I have to agree, don't get into unnecessary debt now that you can, you'd probably regret it.