Renting in LA County after Bankruptcy (apartment complexes, rental, eviction)

[TERRIWITHANI]

Hello Everyone,

Can anyone tell me how hard it is to rent in LA county after bankruptcy? We are in our 60s and I am thinking about filing due to my credit card debt. I am current on all my bills and we are current on our mortgage, but my credit card debt takes 3/4 of my retirement/disability income. My husband would not be filing. Could he rent an apartment or do we both need to be listed on the lease and would his good credit cancel out my bankruptcy if I do file? Are senior apartment complexes more lenient?

Thanks,

Terri

[Dunbar42]

Ideally you should rent the apartment before you file for bankruptcy. Otherwise be prepared to pay several months in advance if your credit score is low. Have you talked to a bankruptcy attorney? Congress passed that law several years ago that makes it harder to discharge credit card debt in bankruptcy.

[TERRIWITHANI]

Yes, I have talked to an attorney. With my small income, I am eligible for a Chap. 7--She didn't think I would have any problems filing. The sad thing is that my credit score right now is excellent--I have been making minimum payments on all the cards but hardly have any money to live on and I will never get them paid at the rate I'm going. But bankruptcy is so scary!

[marilyn220]

You can still rent in LA with a bankruptcy. They might ask for extra security, but that's about it.

People with bad credit rent all the time in LA and not just in dumpy areas either.

The only thing most LA landlords have a problem with (mostly everywhere) is evictions. If you have an eviction it's very hard to find a place and the LL doesn't care if it was your fault or not.

[woodsart]

I haven't encountered it as a problem, but mine was several years ago and was due to an ex's failed company during the recession. All the landlords I've worked with or even inquired with were unconcerned, because there was a clear reason they understood why it was necessary, and a clear history since of having no bad marks on my credit.

That said, I rented a house before the bankruptcy, stayed in it 2 years during/after, THEN rented a new place.

I would rent a place you want while you still have great credit, then file. Pick a place you can stay for 2 years or so. By then you can get a car loan and a new rental again. Your score still won't be spectacular, but it will be decent and you will have established a clear history of paying things on time post-bankruptcy.