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Can I Rent an Apartment After Bankruptcy?

Published November 1, 2022 by Sasser Law Firm
Can I Rent an Apartment After Bankruptcy?

If you are considering or have already filed for bankruptcy, you might be concerned about whether you’ll be able to rent an apartment. You can rent an apartment after filing for bankruptcy. But your bankruptcy will be visible on your credit report to any potential landlords you are looking to rent from. Fortunately, there are other factors they might take into account when considering renting to you.

How Long After Filing for Bankruptcy Can I Rent an Apartment?

Depending on your situation, a bankruptcy filing can remain on your credit history for seven to 10 years. Some people are intimidated by the rental search process because they mistakenly believe no landlord will rent to them until the bankruptcy drops off their credit report. But this is not the case. You can generally secure reasonable housing accommodations after you file for bankruptcy. In some cases, you may even be able to seek an FHA mortgage just one year after bankruptcy.

Most landlords require a credit check. However, there are other factors landlords will consider when determining whether to rent their property to an individual. That you went through with bankruptcy and now have no debts hanging over your head may be a positive factor when you can also prove that you have:

  • A stable source of income
  • A reasonable employment history
  • Good references
  • Taken steps to improve your credit

Tips for Renting After a Bankruptcy Filing in NC

Anxious about finding an apartment or rental unit? Here’s how to rent an apartment after bankruptcy:

  • Consider a private owner– Rental properties are not all owned by big companies. While these entities may be more concerned about how you look on paper, a private owner may be more willing to consider your unique situation and view you as a person, not an “applicant.”
  • Be open about your situation – If a credit check is required, your financial history will be in the open. Get ahead of the situation. Explain why filing for bankruptcy was a reasonable choice and back up your case with evidence of current employment and proof of income.
  • Provide references – Do you have a previous history of paying your rent on time? Do you have friends, family members, or co-workers willing to vouch for you? Show the landlord or leasing agent who you are by providing references highlighting your character and past financial responsibility.
  • Show your willingness to be responsible – If possible, offer to pay a larger deposit. Taking this action can be seen as an act of good faith. You may also want to consider getting a co-signer with good credit.

Above all, landlords and property management companies want respectful tenants who will pay rent on time and not destroy their property. Get the landlord’s attention and stand out from the crowd by moving through the process with grace and courtesy.

Talk to Our Bankruptcy Lawyers in Cary, NC Today

Are you concerned about how bankruptcy might impact you or your family? If so, talk to an experienced North Carolina bankruptcy attorney as soon as possible. At Sasser Law Firm, our lawyers are ready to review your financial situation and discuss the options that offer you the best chance at a fresh start. Contact us to set up a confidential legal consultation.

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