People who have been through bankruptcy will find it very difficult to get credit. This is especially true for those who have not been discharged yet. The best way to get credit after bankruptcy is for borrowers to rebuild their credit.

Unfortunately the only way a person can rebuild their credit is by taking out a loan. This can seem like a catch 22 when there is nobody willing to lend to a bankrupt person. However there are lenders that will give bankrupt borrowers a small amount of money. These lenders will charge very high interest rates. Borrowers will have no choice but to put up with this. Once a borrower has gotten a loan approved they will need to make regular, timely repayments on their loan. This will prove to lenders that the borrower is capable of repaying a loan. Those who have a good payment history for a year or two may be eligible for lending with lower interest rates.