Loans during bankruptcy can either not be taken out at all or only under difficult conditions. The reasons are very diverse. Not only the negative Credit Bureau information, which is a consequence of the bankruptcy, but also the fact that a person who is in consumer or regular insolvency, all amounts of money that go beyond the legal seizure exemption, cede to the administrator got to.
This distributes them to the individual creditors according to a certain quota. During the conduct of good behavior phase, it is also legally forbidden to incur any debt that the insolvent debtor knows that it is certain that it cannot repay.
While most banks refuse to apply for funding, it may well be possible to get loans from private relatives, acquaintances, or friends during bankruptcy. However, the most important prerequisite for this is that there is a good relationship of trust between the potential lender and the borrower. Especially with an insolvent person, this is anything but a matter of course. The same applies in the event that a personal loan is sought via a credit brokerage platform on the Internet. Here the lenders themselves determine to whom and under what circumstances they grant a loan and who does not.
There are numerous domestic and foreign credit intermediaries who promise their customers that they can provide them with a suitable loan even under the most difficult conditions. Even though many of these credit intermediaries have years of experience and diverse contacts with private or institutional lenders, this does not mean that they can broker loans during bankruptcy.
Should this be the case, reputable lenders would insist that the insolvent borrower can provide a guarantor, a co-applicant or additional collateral. Foreign lenders do not provide Credit Bureau information and therefore do not need to know anything about the bankruptcy. However, you should have a regular income.
Loans for Credit Institutions recipients
Many people who are in private bankruptcy are unemployed or receive Credit Institutions. In the latter case, there is only one realistic way to get loans under the bankruptcy. If rent and / or energy debts exist, important household appliances are defective or there are other valid reasons, you can apply for an interest-free loan from the job center.
The responsible service manager decides whether and to what extent this loan can be approved. There is no legal claim to a loan from the job center. The repayment of all loans during bankruptcy must be made in monthly installments. The recipient of the cash payments is the job center that has approved the loan.