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Knowledge Base Article

Applying for a loan after bankruptcy

How long after declaring bankruptcy can I apply for a loan?

Regarding Consumer Loans, if you maintained services and did not cause the credit union a loss we will consider granting new credit 12 months from the discharge date or dismissal date on secured debt and 36 months from the discharge date or dismissal date on unsecured debt. This is after each bankruptcy.

Mortgages: After you have filed bankruptcy protection or liquidation, you must wait at least four years before a traditional mortgage lender will qualify you for a home loan with market interest rates.