How to file bankruptcy and still get a loan

Every day, more than 6,000 American households file for bankruptcy. That's right, 6,000.

According to an article earlier this month on CreditCards.com, more than 6,200 bankruptcy filings occurred every single day in February, and almost 6,900 bankruptcies were declared every day in March. At least one expert believes we're on track to have 1.5 million bankruptcies this year, which would just beat the 1.4 million bankruptcies we had last year.

I bring up these numbers because one of my WalletPop editors recently read a short item in the Los Angeles Times about how difficult it can be to get a business loan after a bankruptcy and suggested I write a piece on how difficult it can be for people to get personal loans. I was happy to oblige. Like it or not, in part because of my own bankruptcy in 2008, I know more than I wish I knew about bad credit.