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   Submitted 2010-08-25 10:21:58 Going through a bankruptcy can be one of the most stressful periods of someone’s life. Getting back on your feet afterward can be even more difficult as many banks and credit unions will often just automatically deny your applications for a loan. It is possible, however, to get financing, but expect the process to take a while and to cost some money. Start by gathering together any documents you have showing a source of income and any proof that you have made consistent payments on any kind of debt. For most people, this will mean a paystub, but you can also use documentation from a student loan or Social Security payments. To show that you have made consistent payments after you filed for bankruptcy, gather together any credit card statements or any other payments made on any other kind of debt, such as a mortgage or a personal loan. Even utility bills showing that you have kept up with payments on your electrical or water service can work. Next, start applying for small loans. Secured credit cards are a good place to start. These credit cards require you to put a deposit down equal to the amount of credit that is extended to you. While this may seem strange, making regular payments on the card can convince a bank to eventually give you an unsecured card. As part of researching your options, ask local banks and credit unions about their finance programs for people with bad credit. While some might reject your application outright, you will find a few that can offer you an unsecured loan. Be prepared, however, for high interest rates and a high down payment. After several years of doing this, you should be able to get your credit score back up to a level that will allow you to get most of the loans you apply for at reasonable interest rates. Of course, if you need to apply for credit before then, or if you just dont have the time to do the research and paperwork involved with these steps, you might want to consider hiring a company that can handle the work for you. Credit repair companies can help you dispute the negatives on your credit report and possibly get them removed. The money you save from the lower monthly payments oftentimes more than makes up for the fees you pay to such services.

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