Asked in Debt and Bankruptcy
Is it possible to get an unsecured personal loan if your credit isn't that great. No up front fees, low interest, and 5-10 years payoff. we had filed for bankruptcy and it was discharged in October 2009.?
The answer to your question as you have posed it is "no." Unsecured personal lines for recent bankruptcies with low interest, no fees and extended payoff terms is not an option. You may be able to borrow from some lenders, but you will likely pay the max interest, high processing fees and be subject to the terms the lender sets, not the ones you want. Low interest, no fees, no collateral are all the stuff of borrowers with great credit scores.
Borrowers with perfect credit can shop for low-interest, unsecured loans with no fees and an extended payoff. High-risk borrowers with poor credit and a recent bankruptcy do not have that luxury.