Personal loans after Chapter 7
Date: Fri, 07/23/2010 - 17:30
Submitted by Jennifer Dickinson
on
Fri, 07/23/2010 - 17:30
Total Replies: 4
Why is it so difficult for me to get a personal loan after filing bankruptcy over 4 years ago? I have been denied numerous times, but I have traded my car in 2x....That makes no blessed sense to me at all! I can get a car, a brand new one at that, but I can't get a $4000 personal loan....um, not getting it!
A car loan is secured....a personal loan generally is not.
A car loan is secured....a personal loan generally is not.
When you say it's "secured", (sorry for my ridiculous question),
When you say it's "secured", (sorry for my ridiculous question), what EXACTLY does that mean?
Secured means they can take your car and recoup there investment
Secured means they can take your car and recoup there investment. Unsecured means there nothing to take.
Secured means the loan is secured by property....a home, vehicle
Secured means the loan is secured by property....a home, vehicle or some other investment. Unsecured loans have no security...and are a bigger risk.