Application - Tenant Filed Banckrupt waiting case date (lease, deposit, credit report)

[Br_in_SC]

Really nice family in hard times had a self employed business, filed for bankruptcy. Presently working long hours on new job, needing a lower rent home. Present landlord was short but said they were good tenants; no prior work history to check; no other housing references because they owned a home but had to sell (this checked out). I was weary of entering a lease due to they have filed for bankruptcy and not much prior history to check. What would other landlords have done? Any opinions?

[Babytarheelz]

1. Has the bankruptcy been discharged? You don't want to get involved with them if it hasn't been because there will be a chance they can include you.

2. Have you seen their credit report? Their mortgage payment history should be on there. Were they consistently paying late or on time? If someone struggles to pay the most important bill they have, then they are of course a greater risk.

3. If bankruptcy has been discharged and mortgage history has checked out, then I'd say approve them with a higher deposit. 2 months will cover you in the event they default. It usually taked about 45-60 days to evict.

One last thing....bankruptcy has such a stigma attached to it, but actually, people who have filed are actually typically in a better position than most. Their debt has been wiped clean, so they have minimal expenses. They can't file for another 10 years, so there's no chance you'll get screwed there. They're probably working really hard to rebuild their credit right now and dig themselves out of their hole. I bet they're very determined and will be great tenants. It's a time of hard times right now. They're no more of a risk for filing than the millions of others out there who are struggling. They were actually smart and are trying to start over.

[Br_in_SC]

They have filed for bankruptcy but have not received a court date. What does discharged mean?

He told us his credit was awful because bad checks had been written by former business partners that signed his name to them. I didn't check his credit. I got such a bad feeling talking to his present landlord (blunk, short speaking, everything good); and the fact he had this bad check story and may or may not have been clear of it; so I told them I would like to help them but couldn't.

[rlrl]

the petitioner of the bankruptcy paid the debts and received an official notice from the court that the debts have been discharged and the bankruptcy is overwith

[bentlebee]

I wouldn't take them as a tenant. The previous LL can be honest about them or he can give positive feedback so the tenants will move fast and he doesn't have to evict.

A bankrupcy from a few years back isn't an issue for me but in the middle and you don't know the outcome and why would you be caught up in the middle...they have nothing to lose at this point.

I don't agree that all bankrupcy people are better people later on since they cleared their record....we have people who indeed after bankrupcy still maintain their yard and their property, but after failing to pay their mortgage, property taxes, HOA fees and getting a bankrupcy...they immediately stopped paying again and their son is always in trouble with the police and we would be glad if they would have to leave their house....just by looking at their house, you would think they would be the best people, but the police records tell you a different story, etc..