chapter 13

Hi Lisa

Welcome to the forums. After filing for chapter 13 bankruptcy, I will not suggest you to take a loan for clearing the past debt. You should try in every possible way in rebuilding your credit and although you might get a loan after 1 year of discharge, but the fact is that it might hamper your credit. Moreover, you will have to pay the interest twice while taking the loan.

The creditors want to make sure that you have the ability to pay back the loan before they extend credit to you. Your old debts which you owed while filing for bankruptcy or the judgments, garnishment and other collection activities will also not impair your ability to pay back the new loan.

All that is considered before the lenders extend credit to you is your payment history. If you had a good credit history and paid your bills on time before the bankruptcy, you may find that it is easier to re-establish credit than if you were perpetually behind on your payments and had judgments against you.

I suggest you to opt for a debt consolidation program because it will help in rebuilding your credit by clearing all the past debts with your creditors. Your defaulted accounts will become current and you will be offered easy installments at lower rate of interest to clear the past debt.

Debt consolidation program will erase all the negative markings from your credit report and will help in improving your credit ratings.

http://www.debtconsolidationcare.com/benefits.html

Also, the consultant working in the debt consolidation program will be offering you regular counseling and budgeting program so that you are able to make healthy financial decisions and erase the debt related problems faster.

Hope that you make the perfect decision thinking about your future.

Regards
Roxette