Ready to start establishing new credit after bankruptcy? You may think your chances of finding a lender are slim, but there are actually lots of lenders out there who are willing to give you a loan! However, there are some unscrupulous folks who will try to take advantage of your financial situation by charging you exorbitant fees or rates. So before you sign up with a lender after declaring bankruptcy, look for these three things:

Good communication

You want a lender that doesn't make you feel bad about yourself for getting into a sticky financial situation. Lenders who say things like, "You brought this on yourself" or "It's obvious you cant manage money" are trying to make you feel desperate so you'll accept their inflated terms and rates. Look for one that doesn't push the blame on you, and instead seems interested in finding a loan that fits your needs and will help you rebuild your credit history. Make sure the lender is available by phone, email and mail.

Flexibility

Bypass any lender that offers you one loan only. Instead, look for one that's willing to examine your personal situation and find the loan that best fits your needs. The lender should ask about your cash savings, your investments, whether you own your home or car, and your income. He should suggest a variety of loans, both secured and unsecured, with a variety of terms.

Reasonable fees and rates

Chances are you're going to pay higher-than-average fees and rates because you recently declared bankruptcy, even if your loan is secured with collateral. However, even though your costs may be a bit higher, they shouldn't be outrageous! Shop around to a few different lenders and compare their extra charges and the interest rate they're offering. If one lender's rates are much higher than the rest, consider choosing a different loan company.

Because you have declared bankruptcy, some lenders won't offer you any loans at all. That's why it's especially important to be wary of the ones who do offer you a loan. Be sure to check them out thoroughly and make sure they offer you reasonable terms and rates, and quality customer service.