I have a recent bankruptcy and I need $25,000. I don't have any collateral. Where can I get a loan?

Question

It's for legal fees and personal debts

Answer 1

Rather than taking out a $25,000 loan, try setting up a repayment plan. By incurring further debt, you are laying the foundation for another bankruptcy. Contact each of your debtors, tell them your situation and then tell them how much you can pay them each month. Most companies are willing to work with you when it comes to repayment. If there are interest rates involved, ask that the interest rates be reduced while you try to pay the money back. In the long run, this is a far better solution than incurring more debt.

Answer 2

Legal fees I can understand, but if it's much over $2000, that would be odd. Regarding personal debts, I would guess that you didn't include them in the bankruptcy for personal reasons, so you should be able to negotiate a long-term repayment schedule. (Unless you are talking about a loan shark or bookie, to which I would say "Run for your life!")

Answer 3

- Borrow from friends or family
- Get an advance on a few paychecks for services you can offer
- Barter somehow -- money for any talents you may have

Or, talk to the people/companies you owe money to, to see if you can arrange an agreement with you actually borrowing what you owe, from them, in return for paying them more interest, additional services, etc.

In the end, people generally want to help people. If you are open and honest, you'll find a way to get the help you need, when you really need it. It might be from the people you least expect, too.

Answer 4

Good luck...I haven't claimed bankruptcy ever in my life, have no credit and having a hard time just getting some credit never mind getting $25,000....Maybe buy a lottery ticket! You might have better luck!

Answer 5

Go out and earn it!! If you play your cards right you can make $25000 a month and start your own business for free. Ever considered doing working from your computer. No overhead and fast money. Email me and I'll send you some links

[e-mail]

Cheers,

Kelsey
CEO Mountain Circle Management LLC

Answer 6

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Answer 7

If anyone knows the answer to this, I would love to hear it too!