Despite bankruptcy, the loan is difficult in most cases, but not impossible. You should actually – in order to be able to get a debt relief later – pledge all usable valuables. Only what is absolutely necessary for life, such as a television and a monthly minimum income (garnishment protection account) are left out. Therefore, you should be extremely careful with your loan despite bankruptcy. credit record and credit bureau data are also queried for loans despite debt. Which is why it seems unlikely that a normal lender would give an installment or personal loan despite debt.
Loans Despite Debt – A Risk With Personal Bankruptcy?
The regulations for private bankruptcy or consumer bankruptcy have improved enormously in recent years in favor of those who are completely over-indebted. And file for bankruptcy. The maximum repayment period if the behavioral phase is observed is six years, then there is the “reward” for the debt relief.
If you took out a loan despite bankruptcy, this would normally only work if you could provide valuables as collateral. However, you would have knowingly withheld these from the list of assets or the statement of assets and the bankruptcy estate. This can lead to the behavior of good behavior or repayment phase being regarded as having failed and the creditors being able to assert the claims for much longer than six years.
Does a loan make any sense despite bankruptcy?
Since you are currently in bankruptcy, you have to think carefully about whether it makes sense for you. A lender who combines a business purpose or a profit intention with the loan cannot give you a large loan despite bankruptcy due to your personal situation. Because the repayment through the monthly installments would depend purely on the will of the borrower, so that the lender has almost no collateral. A garnishment of wages is also not possible here, since bankruptcy proceedings are ongoing. In addition, the spiral of debt would turn again before the mountain of debt was paid off.
It would be different if debt relief was possible without bankruptcy. Then you could take out a loan despite debt. Then the right source of credit would be a Swiss loan.
If, however, the bankruptcy has already occurred, then at most one bridging loan would be promising. According to the principle: As a debtor, you can use the pawnshop at any time. If, for example, the insolvency administrator and the insolvency court agree that the car may not be seized. Then you could, so to speak, mortgage the vehicle papers and continue to use the car. You can then decide to monetize the items that the bailiff or the bankruptcy judge himself may not take with him. For example, to deposit a television as a deposit. Due to the high decline in the value of consumer electronics, you should inquire beforehand how high the deposit would be.
Debt restructuring could avoid bankruptcy
A loan despite bankruptcy will most likely only be able to be limited to smaller amounts. One reason: in Germany, banking secrecy was completely abolished under the CDU-led federal government. Bailiffs, customs and similar authorities can access a newly introduced central register of all bank accounts. There are also no longer any anonymous bank lockers. The goal: complete transparency.
Therefore, the key to the loan, despite debt, is probably in it. to reschedule in good time or to sign a voluntary agreement with the creditors. For example, consisting of the recognition of the open balance – welcomed by the creditors, because this will eliminate the later denial of the claim. And a repayment schedule or a partial payment comparison.
By doing this, you would avoid having to take out a loan later despite bankruptcy. Another advantage of the repayment plan is that this voluntary agreement does not burden credit record. In addition, you would only be mentioned as over-indebted in the case of actual bankruptcy in publicly available documents.