CLEARBORROW · PUBLISHED NOVEMBER 12, 2026
Getting a loan after bankruptcy: what to expect
A bankruptcy can stay on your credit report for up to ten years, but lenders also look at what happened since. Expect higher rates at first; rebuild with on-time payments on small accounts, and be wary of lenders that target people right after a discharge. If you are still deciding whether to file, credit counseling from an approved agency within 180 days before filing is required for chapter 7 and chapter 13.
On this page
Chapter 7 and chapter 13 in brief
| Chapter 7 | Chapter 13 | |
|---|---|---|
| Generally for | Individuals with less income than expenses | Individuals with regular income |
| Property | Some property may be sold to pay creditors | You can sometimes keep property and catch up on past-due debts |
| Before filing | Credit counseling within 180 days | Credit counseling within 180 days |
Sources: U.S. Bankruptcy Court ↗, U.S. Bankruptcy Court ↗. This is general information; talk to a bankruptcy attorney or legal aid about your case.
How long it shows
Bankruptcies can stay on your credit report for up to ten years; most other negative information for seven (CFPB ↗). Check your reports to make sure discharged debts show a zero balance.
Rebuilding credit
- A credit builder loan or a secured card, paid on time every month.
- Keep balances low and avoid new debt you cannot repay.
- Check all three credit reports for errors.
If you need a loan
Expect higher APRs at first. Compare offers by total repayment, and avoid lenders that ask for upfront fees or promise approval “regardless of bankruptcy”. See how to spot a legitimate lender.
Questions
How soon after bankruptcy can I get a loan?
Some lenders lend soon after discharge at high rates; terms usually improve as you build a new payment record.
Does chapter 13 affect credit differently?
Both can be reported; the CFPB says bankruptcies can stay up to ten years. Bureaus may treat chapters differently.
Do I need credit counseling before filing?
Yes, individuals filing under chapter 7 or 13 must generally complete an approved course within 180 days before filing.
Sources and limits
- U.S. Bankruptcy Court: bankruptcy basics and the credit counseling step ↗
- U.S. Bankruptcy Court: credit counseling within 180 days before filing ↗
- CFPB: how long information stays on your credit report ↗
Sources checked November 12, 2026. This is general information, not legal, tax or benefits advice; rules differ by state. Worked examples are our own arithmetic, not offers. How we use sources.