Answer:
Yes. After bankruptcy it is possible to borrow money for virtually any purpose. However, one should understand completely that this does not mean that the same terms that would be available to someone with perfect credit will be available to someone who has filed for bankruptcy. Generally speaking, borrowing money after bankruptcy will involve higher interest rates for the borrower. In addition, banks may require additional security or a larger down payment.
What is important to remember is that in the crucial months following a bankruptcy, the debtor can take steps to insure that his or her credit worthiness is improved by timely making payments and rebuilding one's credit worthiness.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.
