It is always important to carefully weigh your options before you decide to go into bankruptcy. While this process can be a great way to get a new financial start, it can also have some drawbacks, especially in the short term. One potential drawback is that it can make it a bit more difficult to rent an apartment or a house. This is what you should know before you consult a New City bankruptcy attorney.
What Can I Do to Make it Easier to Rent an Apartment or House?
Most landlords are going to do a credit check when deciding who to rent out their apartment or house to. If you have gone through bankruptcy, that is going to come up. There really is no way around that.
There are other things that you can do to come off as a potentially attractive tenant though. Your credit history and score are rarely the only important things on a rental application. We recommend:
- Showing a consistent employment history with few gaps
- Having recommendations from others, including past landlords if possible
- Being able to show that your income is more than enough to pay the rent
- Being open to discussing why you had to declare bankruptcy
Any of these things can make it a bit easier to rent a new place.
What if my Bankruptcy Happened a Long Time Ago?
One thing that is fortunate is that the longer ago a bankruptcy happened, the less relevant it should be to your current credit score and situation. If you went through bankruptcy years ago and you have practiced smart financial habits since then, your past may not be a problem on most rental applications. However, if you just completed the bankruptcy process or you are in the middle of it, that can make you less attractive as a tenant.
This is why it is also a good idea to just move forward with bankruptcy if you think it is the best option for you. The longer you wait, the longer it will take to rebuild financially.
Would it Be Easier to Rent an Apartment from a Private Landlord?
It may be worthwhile to specifically seek out private landlords when you are looking for an apartment. It may be easier to rent from them than from a big corporate landlord who is more likely to just see everyone as numbers on a spreadsheet. A private landlord might be more sympathetic to your story and willing to give you a chance to rent.
Talk to Our Bankruptcy Lawyers
If you think that bankruptcy might be the right option for you, you do not have to go through that process on your own. Contact the Lauterbach Law Firm and schedule a consultation. We can tell you more about bankruptcy and how it can help you get a fresh financial start.