When you file for bankruptcy, you may think it will be impossible to ever rent an apartment any time soon. Fortunately, there are some ways you can get into an apartment if you have bankruptcy on your credit report. The bankruptcy will remain on your credit report for several years and potential landlords will be able to see it. So, you may be wondering how you will be able to rent again. Here is what you need to know:
How Long Do You Have to Wait to Rent an Apartment?
Your situation will vary, but bankruptcy will stay on your credit report for up to a decade. You may be scared to even apply for an apartment because you think no one will ever rent to you based on your credit report. This is not always the case. You should be able to find an apartment and landlord who is willing to work with you. Your credit score is not the only factor a landlord will consider in many cases. The fact that you have gone through bankruptcy and now have no added debt may be a good thing.
To have the best odds of getting an apartment with bankruptcy, there are a few things you do need to have. You need to have a stable income. You will be asked for proof of income at the time you apply for the apartment. You should have a solid employment history with as few gaps as possible. Great references are also good to have as you apply for new apartments. You can also show proof that you have taken steps to improve your credit.
How Can You Begin Looking for an Apartment?
If you are still feeling anxious as you do your apartment search, there are some things you can do. First, consider renting from a private person. You do not have to get an apartment owned by a large company. A private owner will be more willing to look at you and your situation in person. Large companies will typically only look at your situation on paper rather than learn more about your personal situation.
You also need to be open about your financial situation. Be upfront about your finances as you talk to landlords and property managers. You can also be willing to pay a larger deposit to get into the apartment as a sign of good faith that you not only have the money to pay the rent but also are serious about getting into the property.
For more information, contact a bankruptcy lawyer near you.
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