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Chapter 7 will make it harder to rent. Not impossible, but a lot harder. The majority will likely reject your application until at least 3 or more years has passed since the BK, and as KonaKat said, good history since then.Chapter 13 though, in my experience, is a little more acceptable,
In my experience, most LL's are dumb as fence posts when it comes to legal stuff. A bankruptcy is a bankruptcy in their eyes, so which type does not matter. Get into an apt first and then file.
In my experience, most LL's are dumb as fence posts when it comes to legal stuff. A bankruptcy is a bankruptcy in their eyes, so which type does not matter. Get into an apt first and then file.
Next time, you might want to read ALL of the post. Especially the part where I said
Quote:
Originally Posted by revelated
This is assuming the apartment management company does manual reviews of applications instead of automated decisioning.
If they do manual reviews they won't overlook the type of bankruptcy; they can't.
That is just weird to me. We have bad credit due to job loss in the last year and a bk 4 years ago. However, our rental hx is EXCELLENT along with our utility services. We always figured you gotta have a place to live so if something has to go then the cc or something else is it. There are alot of deadbeats out there but just because someone filed bk doesn't make them one.
you sound like a great landlord--i rented after my divorce bankruptcy,was upfront with the realtor,had a wonderful experience and got a great recommendation when i left the area---sometimes it's ok for a landlord to use his/her intuition and not a credit rating
Right-o. So some of the LLs on this thread would not rent to:
Walt Disney
Charles Goodyear
Ulysses S. Grant
Thomas Jefferson
Larry King
Debbie Reynolds
some people said they won't take people who filed for bankruptcy, period
I would consider someone with a bankruptcy only if it was from something not under their control, for instance massive unexpected medical bills or perhaps proven identity theft. This is all part of careful screening, which you don't seem to understand.
Expensive divorces, spending too much money, playing the real-estate market, running up credit cards -- all of these would be an instant no from me.
Next time, you might want to read ALL of the post. Especially the part where I said
If they do manual reviews they won't overlook the type of bankruptcy; they can't.
I was more referring to LL's who don't use management co's. They run CC's themselves and if they see a bankruptcy on the report the app immediately goes into the trash.
Go ahead and file for BK, you'll be allright. It's better sometimes to rent from a private owner, this way you can be upfront and they take it on a case by case basis.
I would consider someone with a bankruptcy only if it was from something not under their control, for instance massive unexpected medical bills or perhaps proven identity theft. This is all part of careful screening, which you don't seem to understand.
Expensive divorces, spending too much money, playing the real-estate market, running up credit cards -- all of these would be an instant no from me.
So it's my fault that my wife filed for divorce, hired an attorney for $300 an hour, charged up tens of thousands of dollars on credit cards in my name, and dragged out the divorce for two and a half years, forcing me to spend thousands of dollars for legal reprensation so I could salvage what remains of my pitiful life. OK.
I've already mentioned that a BK is not necessarily a deal breaker for me...
I know other owners where it is... to paraphrase what one told me a few weeks ago... we all make choices in life and choosing whether or not to marry or to whom we marry is one of the choices we make...
It goes further in that I deal with a lot of single parent households and sometimes the bitterness between exes is very disruptive... especially when children are involved... more than once I've had to sit a person down to tell them their personal life is disruptive to the community and it has to stop... after all, that person choose the other person to be the parent of their child...
Maybe harsh... but it is the reality.
Last edited by Ultrarunner; 10-06-2009 at 10:53 PM..
I've already mentioned that a BK is not necessarily a deal breaker for me...
I know other owners where it is... to paraphrase what one told me a few weeks ago... we all make choices in life and choosing whether or not to marry or to whom we marry is one of the choices we make...
It goes further in that I deal with a lot of single parent households and sometimes the bitterness between exes is very disruptive... especially when children are involved... more than once I've had to sit a person down to tell them their personal life is disruptive to the community and it has to stop... after all, that person choose the other person to be the parent of their child...
Maybe harsh... but it is the reality.
a.k.a. hindsight is 20/20
If I had a time machine my life would be so much better!
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