Take out a loan during the bankruptcy
A person who is in bankruptcy is allowed to take out a loan during the bankruptcy and the law only prescribes good conduct. The good conduct means that the loan must be approved by the insolvency administrator and that the claims of creditors are given preferential treatment. If special circumstances of a garnishment did not contradict, then this loan would be attachable, i.e. belonging to the mass.
Especially if a borrower wants to start a new business with the capital in self-employed activity or wants to stabilize the existing business, then these special circumstances exist. If he needs funding for this, then it is subject to the same status of the used equipment, such as a vehicle, where it would not be possible without practicing the profession. The credit is not a reason for failure to discharge the remaining debt.
Can I get a loan during bankruptcy?
Most banks do not grant credit during the bankruptcy after the bankruptcy is regularly negatively recorded in the Credit Bureau information. The lenders start a query from Credit Bureau every time a loan is granted, even with so-called loans without Credit Bureau. A credit without Credit Bureau does not mean that the lender does not query the bank, but that the lender does not report the Credit Bureau, which means that Scoring the borrower doesn’t get worse. The chances of getting a loan during the bankruptcy increase significantly if a second borrower has the required credit rating.
In addition, there is always the option to consider a loan from private capital providers. These private loans are brokered by some providers, where private investors then grant a loan to a private borrower, another person or even a self-employed person. The borrower has to register for a loan during the bankruptcy on a platform such as aux money and presents himself and the loan project there. The borrower can explain his project in the community and auction the loan. He can flexibly set the interest independently during the normal case of a two-week phase. Some providers will invest different amounts in their project and they can increase the interest offered online until a desired amount of the loan is subsequently available.