Loans after going bankrupt

[Randy Shlong]

Mate of mine has just got out of being bankrupt. He's looking for a loan but is struggling. Anyone here had this problem or know of a place that could help?

[YZF600R]

Randy Shlong said:

Mate of mine has just got out of being bankrupt. He's looking for a loan but is struggling. Anyone here had this problem or know of a place that could help?

Has he not learned his lesson the first time around?

Any loans he would be able to get would be subject to silly APR charges as he would be a very bad credit risk.

[Vesuvius 996]

Randy Shlong said:

Mate of mine has just got out of being bankrupt. He's looking for a loan but is struggling. Anyone here had this problem or know of a place that could help?

You're joking, right?

That's what being bankrupt means!! Does he think he'll ever get a loan ever again?

FFS!

[DannyR]

Wait 2 years then rates might be starting to look a bit more sensible, but still not great.




Or use the ironic advert that appeared with my post!!!! Ha Ha

Edited by DannyR on Tuesday 5th August 14:17

[Randy Shlong]

DannyR said:

Or use the ironic advert that appeared with my post!!!! Ha Ha

Edited by DannyR on Tuesday 5th August 14:17

Zavvi?

[Randy Shlong]

DannyR said:

Or use the ironic advert that appeared with my post!!!! Ha Ha

Edited by DannyR on Tuesday 5th August 14:17

Zavvi?

[DannyR]

It says compare the UK's cheapest loans on mine!

[Tony*T3]

Vesuvius 996 said:

Randy Shlong said:

Mate of mine has just got out of being bankrupt. He's looking for a loan but is struggling. Anyone here had this problem or know of a place that could help?

You're joking, right?

That's what being bankrupt means!! Does he think he'll ever get a loan ever again?

FFS!

So from what your saying then every business man thats ever gone bankrupt is never able to borrow money again....?

[Vesuvius 996]

Tony*T3 said:

Vesuvius 996 said:

Randy Shlong said:

Mate of mine has just got out of being bankrupt. He's looking for a loan but is struggling. Anyone here had this problem or know of a place that could help?

You're joking, right?

That's what being bankrupt means!! Does he think he'll ever get a loan ever again?

FFS!

So from what your saying then every business man thats ever gone bankrupt is never able to borrow money again....?

No I am saying he's a st credit risk, and therefore shouldn't be surprised that no one wants to loan him money.

Imagine you had two sixteem year old daughters, and a bloke bummed one of them while babysitting her.

How keen would you be to leave the other one with him after that?


Capiche?

Edited by Vesuvius 996 on Tuesday 5th August 14:29

[touching cloth]

[davido140]

Tony*T3 said:

Vesuvius 996 said:

Randy Shlong said:

Mate of mine has just got out of being bankrupt. He's looking for a loan but is struggling. Anyone here had this problem or know of a place that could help?

You're joking, right?

That's what being bankrupt means!! Does he think he'll ever get a loan ever again?

FFS!

So from what your saying then every business man thats ever gone bankrupt is never able to borrow money again....?

a Limited Liability company or partnership going bankrupt is very different to an individual going bankrupt.

An individual that declares themselves bankrupt will be "black listed" for quite some time. Forget credit cards, loans, mortgages etc for the next decade.

OP needs to tell his mate to save his money up.

Edited by davido140 on Tuesday 5th August 14:31

[Eric Mc]

Businesses NEVER go bankrupt - people go bankrupt.

Limited companies go into liquidation and, as you infer, a liquidated company can never borrow again - for the simple reason that it is a liquidated entity and no longer exists.

An undischarged bankrupt (i.e. a person who can never and will never clear the debts that originally made them bankrupt) used to be barred by law from borrowing ever again. Under current rules this is no longer the case. However, lenders will be very wary about lending to someone with a disatrous credit history. In the current climate even the extortionate loan sharks out there may not be too generous with their loans.

Edited by Eric Mc on Tuesday 5th August 14:34