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How Do You Rent A Home With a Bankruptcy on Your Credit Record?

If you have a bankruptcy on your credit record, what can you do to find a new apartment or house to rent after your bankruptcy case has been discharged and closed?  Securing a rental property has been a concern for those who are considering bankruptcy as a debt relief solution.  Here’s what you can do to maximize your chances of securing a property.

When you look for a place to rent, start with private parties.  Larger development projects are usually owned by large corporations which place blanket rules over applicants who are interested in renting property.  These type of blanket rules can include things like “No bankruptcy on credit records”.  It is more likely for  a large development owned by a company to enforce rules like these because they will not trust their employees to make an exception to the rule.  There are very likely no exceptions to the rule when there is one in place.  With a private party landlord, they are more likely to judge an occupant by other factors including the credit history.  There may be some communities out there that do accept people with bankruptcy on their credit profile, but you should be able to find that out very easily by calling them on the phone first.  No need to drive to the complex if they can tell you if you do not qualify by phone due to a bankruptcy.

A rental owned by a private party is more likely to make exceptions for credit issues.  With private party landlords, go and visit them in-person and hand them your application.  Craigslist has many listing for rental properties.  When you find one you like, you can call to set up an appointment to see the location and don’t mention anything about credit yet.  Dress and act like someone you would want to rent to if you owned a rental property when you attend the appointment.  When you meet the landlord in-person, you can explain what the situation was that caused your bankruptcy and you can also explain that you are now blocked from filing for bankruptcy again for another 8 years because that is the rule.  You may end up having a lot in common with the owner or being able to explain your situation and income directly to the decision maker of the property.  If you can’t meet them in person, send in your application with an additional explanation on your credit record.  Tell them the personal situation that you ran into and explain to them that because of the bankruptcy, you are in better shape now than you were in the past to rent a property.

Contrary to common belief, a bankruptcy is not the end of your credit profile.  As we have mentioned many times on this website, a bankruptcy may be the best way out when you explore your situation.  So, find your local bankruptcy attorney and schedule a consultation for free to see what your options are.

Bankruptcy Law Professionals is a law firm based in Southern California with offices in Riverside and Santa Ana.  Let our Orange County and Riverside bankruptcy attorneys help you with your debt issues.  We can be contacted for free consultations at 855 257-7671.  We look forward to hearing from you.

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