The first and most important thing to keep in mind when trying to rent after filing bankruptcy is the fact that you having filed bankruptcy, in itself, is not going to completely inhibit you from finding an apartment or home to rent. Nonetheless, and of course, a potential landlord will take filing bankruptcy into account as well as the circumstances around your decision to file bankruptcy, as well as where you stand today.
Here are some other items your future landlord is going to look at, some of which might just completely overshadow the fact you ever filed bankruptcy.
Your Rental History
If you have a good rental history, in that you can show that you have always been on time with paying your rent and have not broken any of your leases with previous landlords, then your potential landlord should not be too concerned about the fact you filed bankruptcy.
Your Disposable Income
Have you ever heard that shortly after receiving a bankruptcy discharge you are very likely to receive credit card offers in the mail? This might seem very confusing taking into account that you most likely just filed bankruptcy on multiple credit cards. The reason credit card companies offer you a credit card shortly after bankruptcy is because you come out of bankruptcy with much less debt than you did before bankruptcy. To credit card companies, this means you now have more disposable income, which in turn makes you an excellent candidate for credit. Of course, this is just the presumption that the credit card companies make. However, the same can be true to potential landlords. If they see that you have enough disposable income to pay rent, then your bankruptcy will not be as significant.
Potential landlords will most likely look at the length of your current employment, whether or not it is permanent, and your previous employment history.
The Reasons You Filed For Bankruptcy
Most people who file bankruptcy are forced to do so because of things outside of their control. The majority of those who are forced to involuntarily file bankruptcy due so because of a divorce, unexpected job loss, or illness. If you filed bankruptcy because of something outside of your control, tell your story to your potential landlord and explain why the reasons you had to file bankruptcy will not keep you from paying your rent.
Additionally, a potential landlord will look at your credit report to see how you have been handling your finances since filing bankruptcy, the status of your bankruptcy case, and how long ago you filed bankruptcy.
The reality is that filing bankruptcy is going to have an affect on many aspects of your life, but knowing what those possible affects will be before filing bankruptcy can make the bankruptcy process a lot less stressful. There are many bankruptcy myths out there, which is why is it so important to speak with an experienced bankruptcy attorney before filing, so that you can be fully prepared.
Call the Law Office of David M. Goldman, PLLC at (904) 685-1200 to speak with an experienced Jacksonville Bankruptcy Attorney.