Loan after bankruptcy discharge

eggyf7

I have been discharged from bankruptcy but I was advised I can apply for credit upto £2k as long as I advise the lender about my previous bankruptcy. Can anyone suggest a company that deals with discharged bankrupts

elsien

If anyone is willing to offer you anything it is likely to be at an extortionate rate of interest. How long ago were you discharged?

is more credit really the route to start going down again?

eggyf7

No offence but I asked if anyone could recommend a company that specialises in loans for discharged I never asked whether it would be the best action. Sorry if that sounds snappy but that wasn’t really what I asked

TheGardener

I'm not aware of any high street lenders who would give loans to a recently discharged BR - there maybe some of the lesser known 'pay day loan' type lenders but they never look good on a credit history if you were trying to rebuild it and of course they do charge very high interest rates.

Have you tried any of the credit builder credit cards like Vanquis? It would start with an initial £500 limit though - it took me 3 years for the credit limit to be raised to £2,500 and that was after squeaky clean use of the card.

Another option would be a credit union if you have access to one - but they usually expect you to save with them for a little while first.

National_Debtline

Hi eggyf7


If you have been discharged from bankruptcy and are not subject to a Bankruptcy Restriction Order (BRO) there is no limit to the amount of credit you can apply for. The difficulty is finding someone who will lend to you, particularly if you have only recently been discharged.


TheGardener makes some good points above.


Best wishes


Susie
@natdebtline