It stays in your record 7-10 years. I do not rent to anyone with bankruptcy if in the last 5 years. If it's longer than that, they must show good recent credit. Sadly, many people with bankruptcy continue to spend more than they can afford even after the bankruptcy. They don't learn to live within their means. There are exceptions of course, but that is my experience running credit checks for over 15 years. I recently had an apartment abandoned dirty with rent owing from someone who had a bankruptcy 6 years ago.
I heard on TV on a financial show that after a foreclosure, you may have to offer a landlord 1 year's rent upfront. I imagine a bankruptcy is just as bad or worse on your credit.
With a bankruptcy, a landlord is just going to pass you up for the next applicant.
Unless you find a real dumpy place, that no one else wants to rent.
Stay living where are you are for now, and save up money.
It all depends on the person that owns the apartment. Some landlords will run a credit check and the fact that you filed bankruptcy might prevent them from renting to you.
If you JUST filed and were granted backruptcy it might be surprisingly easy if the landlord knows the rules.
Once you go bankrupt you are prevented from doing so again for 7 years so during that time you are an excellent risk as long as you can demonstrate resources and references.
But having just FILED bankruptcy is the other side of the coin.. That same landlord would run the risk of having his debt tossed into your filing with little hope of recovery. So your odds of getting that place vary between really small and 'icebergs in hell'.
Answers & Comments
It stays in your record 7-10 years. I do not rent to anyone with bankruptcy if in the last 5 years. If it's longer than that, they must show good recent credit. Sadly, many people with bankruptcy continue to spend more than they can afford even after the bankruptcy. They don't learn to live within their means. There are exceptions of course, but that is my experience running credit checks for over 15 years. I recently had an apartment abandoned dirty with rent owing from someone who had a bankruptcy 6 years ago.
Very hard if you want a nice place.
I heard on TV on a financial show that after a foreclosure, you may have to offer a landlord 1 year's rent upfront. I imagine a bankruptcy is just as bad or worse on your credit.
With a bankruptcy, a landlord is just going to pass you up for the next applicant.
Unless you find a real dumpy place, that no one else wants to rent.
Stay living where are you are for now, and save up money.
It all depends on the person that owns the apartment. Some landlords will run a credit check and the fact that you filed bankruptcy might prevent them from renting to you.
If you JUST filed and were granted backruptcy it might be surprisingly easy if the landlord knows the rules.
Once you go bankrupt you are prevented from doing so again for 7 years so during that time you are an excellent risk as long as you can demonstrate resources and references.
But having just FILED bankruptcy is the other side of the coin.. That same landlord would run the risk of having his debt tossed into your filing with little hope of recovery. So your odds of getting that place vary between really small and 'icebergs in hell'.
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As long as you have a good rental history, it shouldn't be a problem. I would insist on speaking with your current landlord, if I were to rent to you.