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Loans while in chapter 13

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    Loans while in chapter 13

    We're currently 2 payments from completing our plan but we're falling behind on other bills. I desperately need to take a small loan out to help me cover some bills . As long as I keep up with my plan payments will the loan not be a issue ?

    #2
    What were the terms of your BK? We were not allowed to take more than $500 on credit. You need to know what your BK allows and if anyone will even loan money while in an active BK. If you have two payments left that's two more months to discharge is there anyway around taking out loans?

    Please be careful and don't start the debt cycle over once you get your BK discharged.
    I am not an expert. I share my experiences in the Wonderful Wacky World of Chapter 13! Filed 3-30-18 Confirmed 7-11-18 Discharged 6-8-22

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      #3
      Originally posted by Skipd395 View Post
      We're currently 2 payments from completing our plan but we're falling behind on other bills. I desperately need to take a small loan out to help me cover some bills . As long as I keep up with my plan payments will the loan not be a issue ?
      I must also say to use caution. If you exit a Chapter 13 without a budget and some savings already established, then this is cause for concern. As suggested, I would figure out a way to make it through without borrowing from a commercial lender. Maybe family can help you.

      Chapter 7 (No Asset/Non-Consumer) Filed (Pro Se) 7/08 (converted from Chapter 13 - 2/10)
      Status: (Auto) Discharged and Closed! 5/10
      Visit My BKForum Blog: justbroke's Blog

      I am not your attorney. Any advice provided is not legal advice, but simply the musings of a fellow bankrupt.

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