BK and renting-How does it affect renting?

[greengoddess]

Once I file bankruptcy, I am guessing that I will be unable to find a landlord who will rent to me, so I want to make sure I'm in a place I'm going to like for at least a couple of years..I'm trying to balance the act of searching quick for a place to live BEFORE filing (and before skipping any credit card payments) but I also need my credit rating good just before the perspective landlords run a report on me..Does anybody have any experience with being a renter and filing?

Thanks in advance!

Michelle

[SinkingFast]

I posted a response to this question in your other thread.

[CATCHMEIFYOUCAN]

Where Are You Looking?

Maybe the people here can suggest some places if you told them where you are currently residing? The only knowledge I have of finding a place to live (I'm assuming you want to rent an apt? They may just ask you to have an extra deposit, 2 months ahead vs. 1 month, I guess. I'm assuming trying to find a place to live and/or buying a new/used car before you file is a lot easier than after you've filed.

Good Luck! Catchmeifyoucan

[jbr12]

I have been hunting for awhile now and it has been a PAIN! I haven't filed yet, but I do have a number of past due accounts and that has been the reason for the rejection. My score isn't even TERRIBLE yet... it did drop 100 points in a month or so, but it could be worse

The one place we REALLY wanted to live had a rule that they could not rent to anyone with any more than one past due account. On top of that, they would not rent to any bk filers until 3 years after their case was closed. And the rule was 5 years after any vehicles were repossesed.

The place we're moving to approved me with a few stipulations. The first being that I give them a letter indicating that I will not include them in my bk case. Second was they asked for a full months rent as deposit instead of the standard $200. After 6 months of good standing on my rent, they will refund me the remaining money from the deposit, dropping my deposit to $200.

If you can, DEFINITLY find a place BEFORE you let your credit slide. It will make a WORLD of difference

[CATCHMEIFYOUCAN]

The place we're moving to approved me with a few stipulations. The first being that I give them a letter indicating that I will not include them in my bk case. Second was they asked for a full months rent as deposit instead of the standard $200. After 6 months of good standing on my rent, they will refund me the remaining money from the deposit, dropping my deposit to $200.

If you can, DEFINITLY find a place BEFORE you let your credit slide. It will make a WORLD of difference

Sounds like a good deal, but keep your options open, still haven't mentioned where you are looking!??? Maybe it's "none of my ...," that's cool!

Catchmeifyoucan

[greengoddess]

Thanks you guys. I'm in Oregon. I appreciate the advice!!

Michelle

[ch13buyout]

[B]The place we're moving to approved me with a few stipulations. The first being that I give them a letter indicating that I will not include them in my bk case.
Catchmeifyoucan

This is not intended as legal advice. Please contact your lawyer for any legal questions you have.


Stipulations not to include him in your bk? Smart on his part but they won't stick if you chose to put him in your bk as a creditor.

[SinkingFast]

Sounds like a good deal, but keep your options open, still haven't mentioned where you are looking!??? Maybe it's "none of my ...," that's cool!

Catchmeifyoucan

The types of info we reveal here, it's best not to get too specific on locations.

People read this Forum every day who are not members, and we don't know who they are or what their intentions are.

Some personal info is best left unknown.

[AMISLANDER]

Fyi

I rented an apartment just this past June. My case was discharged in February. I did not have to pay any extra fees...just basic $200 deposit. Maybe I lucked out? They also wanted 3x the rent as your income and I was $100 under that as well but they let me in.

I was at my previous rental for two years with rent paid on time. Maybe that helped...

I'd definitely not tell a future rental that I was filing...why? It's one thing if you've been there awhile...but otherwise...no.

[debtisbad]

With all the homes going into foreclosure due to interest rates readjustments, these landlords are going to have to get over themselves being so picky. If they are, just move it on, you do not need to be treated like such. Remember, you are the customer.

[jbr12]

Well, DEFINITLY do not tell the landlord you are considering filing.

The place I mention above that was going to let me in with a larger than normal deposit pulled a 180 YESTERDAY and told me we couldn't move in tomorrow. The reason was 1- I had not ALREADY filed for bk and 2- They thought I HAD to have a lawyer to file and would not approve me because they did not believe I could file pro se.

So, from my personal experience, do not tell anyone prior to filing... We were lucky to find a landlord last night who was willing to waive his credit requirements. So we really lucked out

[IOIOIO]

The one creditor I have who I've never and will never miss a payment on is my current landlord--I don't want to get evicted, which they can do quickly for non-payment of rent. Any opinions as to how this long track record with a landlord who will vouch for my reliability will weigh against the slew of delinquent credit card accounts I'll soon have? In any case, I don't plan to be in the market for a new landlord until after the eventual bk, but the pre-BK delinquent accounts will still show up on my credit report.

[razorguns]

if vacancy is high, you got good income, and you seem like a good client - you'll get approved. They rather have a person with a good job, and 0 bills - then someone with $20g's in bills.

if not - ask for a higher security deposit (refundable in 1 year) or shop around or buy a condo.

r

[HHM]

Even though many landlords will pull credit reports, strictly speaking, granting a lease is NOT granting credit since you pay your rent "in advance". Most landlords are more concerned about whether you have the regular, monthly, income to pay the rent than whether you are delinquent on other accounts and landlords are pretty well protected under the bankruptcy code.

Thus, if you are planning to file BK, do not default on your rent if you can avoid it, because BK (at least a chapter 7) is very little help in preventing an eviction (it only temporarily stops it, but you will eventually be evicted). If you are looking to rent after filing BK, there are numerous issues involved, but because granting a lease is not granting credit, all they should require is a larger deposit.

Incidentally, there needs to be litigation on this point and there is a supreme court case on a tangential issue regarding disclosure of adverse credit reports from businesses who deny credit based on that credit report...but the long and short of it is, I believe that landlords should not be entitled to pull credit reports because they are not making a firm offer of "credit".

[razorguns]

it also HELPS to get a letter from your previous lanlord that you've been a good tenant for XY years.

Go even further to previous tenants if u have to. All htat helps. I got letters dating back 10 years.

r