Can You Rent an Apartment After Filing for Bankruptcy?
It is possible to rent an apartment after filing bankruptcy; however, you may have to invest more time, effort and money into a place that is desirable to prove you are a worthy tenant.
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Find The Right Property
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It is inevitable that some apartments will reject anyone with a bankruptcy on their record. You must seek out someone who is willing to work with you. Talk to them in person and be honest about the financial troubles you have had. If they feel you are responsible, they may cut you a break.
Proof of Employment
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The ability to prove you are gainfully employed can go a long way when attempting to rent an apartment after bankruptcy. If the landlord sees you earn enough money to pay the rent, they may be willing to rent an apartment to you.
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Circumstances
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While a bankruptcy is a black mark on a credit report, the ability to prove the circumstances under which you filed may help your cause. If it was due to illness, being laid off from a job, injury or some other unforeseen expense, explain that to the apartment manager. Have documents to back up your reason and present them to the manager.
Money Talks
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The ability to present an apartment with extra cash up front for a deposit or being able to pay several months in advance will make you a more desirable tenant. This will help offset any misgivings the landlord may have about your likelihood of default. If the latter occurs, they will have a significant deposit to cover you in the event you cannot pay rent.
Be Reliable
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Once you have found an apartment that will rent to you, be sure to make your payments on time. The manager may serve as a valuable reference in the future if you move somewhere else. This is particularly valuable to have because bankruptcy can stay on your record for up to 10 years.
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