Can the consumer debtor get a loan after bankruptcy?

Can the consumer debtor get a loan after bankruptcy?

The answer is “yes”. Once the consumer debtor is discharged from bankruptcy, the consumer debtor is released from all provable debts in bankruptcy. That is, all the claims of creditors are released or discharged except for those that survive bankruptcy. Only those claims relating to fines and penalties, alimony, maintenance or support, fraud or misrepresentation survive the bankruptcy. Therefore, as the consumer debtor is unlikely to have any other debt, the consumer debtor may be able to obtain a loan from any lending institution based on salary qualifications.

Contact Rumanek & Company Ltd. for more information on bankruptcy and debt solutions. Or please fill out the free bankruptcy evaluation form. To learn more please visit our YouTube Channel. Rumanek & Company have been helping individuals and families overcome debt for more than 25 years.