Finance question
Can I get finance after a discharged bankruptcy?
Yes, once you are discharged. A discharged bankruptcy does not automatically stop equipment finance, because the asset secures the loan. The right lender and a clear account of what has changed are what get it approved, subject to lender assessment.
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The short answer
Discharged is a fresh starting point
A bankruptcy stays on your credit file for a set period after discharge, and a single bank policy often reads that as an automatic no. Asset finance takes a wider view. Once you are discharged, the event is in the past, and lenders that write these deals will look at where you are now, not only where you were.
The equipment carries much of the risk. Because the asset secures the loan, the lender is not relying on your history alone. That is why a discharged bankruptcy can often be worked around when there is a real machine or vehicle standing behind the finance and a sensible deal on the table.
The story you tell matters. A clear explanation of what caused the bankruptcy, that you are discharged, and what has changed since gives a lender a reason to say yes. We package that properly and place it with a lender whose appetite fits, rather than shopping a sensitive file around.
Do you qualify?
What makes a post-discharge deal fundable.
A discharge
You need to be discharged, not still bankrupt.
A specific asset
A vehicle or machine to secure the finance.
A clear story
What happened, and what has changed since.
A deposit can help
It lowers lender risk and widens your options.
Why a discharged bankruptcy is not the end
The asset secures it
Security in the equipment offsets what your file cannot.
Lenders differ
Some lenders are built to consider a discharged bankruptcy on a secured deal.
Time since discharge
The more you have rebuilt since, the stronger your case reads.
A real example
A builder discharged two years ago needs a $52,000 excavator to take on more work. A bank declines on the file. Placed with a lender that considers post-discharge deals, secured on the machine and supported by a short written account, it is approved with a deposit. Illustrative only.
Common questions
Frequently asked questions
Can I get finance while still bankrupt?
Options are very limited while you are still bankrupt. Most lenders consider a deal once you are discharged.
How long after discharge can I apply?
There is no single rule. Some lenders will look at a deal soon after discharge, while others prefer more time has passed. The asset and deposit both help.
Does a deposit help my case?
Yes. A deposit lowers the lender's risk and can widen which lenders will approve a post-discharge deal.
Will you need to know the details of the bankruptcy?
A short, honest account helps. Explaining what happened and what has changed since gives a lender a reason to approve.