View Full Version : advice on renting with a BK
So I found a place I really like, it is nice and new and clean and most of all available when I need it to avoid a total life meltdown. And I applied, they of course saw my bankruptcy and want paperwork or something, I am not sure if they will rent to me. The bankruptcy was due to the foreclosure and the second mortgage, which was due to my house losing $100K in value. I did a chapter 13 so I am paying on it, I have no car loan or credit cards and my student loan is under a public service loan forgiveness program, so the BK is not based on lifestyle and overspending issues. I need to bring them copies of paystubs and my payment history of my BK and they will let me know by the end of tomorrow. So do you think a simple letter explaining the circumstances of my BK would help to a large corporation? I really want this place to live, it fits so well and I have not had calls back from any other places.
And wish me luck, I think this will heal so much if I can get a decent place to live for us under my own power.
Chicken lady
4-16-15, 6:47pm
Yes. If there was no credit debt involved other than the house, I would make that very clear. Also show how your pay clearly covers your regular bills and expenses, projected rent, and hopefully something leftover.
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And wish me luck, I think this will heal so much if I can get a decent place to live for us under my own power.
I agree--a whole new beginning, under your own steam. Good luck, Zoe Girl!
Wish you luck. If they thought bankruptcy was a deal breaker, they would not have requested additional info. Think the letter is a good idea.
Thank you all, I am working on the letter and documentation and will get there first thing in the morning. Sweetana, that is a good point.
My son is still trying to wiggle a way to find a different place where he can keep a snake. I told him the snake is not my problem since he did not really check with me when his friend brought it over. There are no reptiles and I don't want the stress of trying to just sneak it in.
Oh I hope this works out for you. I think a simple letter with a time-line is a good idea. Make sure to mention how long you've been in this place and that you are only moving because the property was sold.
Hey my credit scores are (with the 3 agencies) 620, 573 and 629. There is one thing I can work on (my student loan is under a special program and I need to make sure I am in compliance with that). I am feeling pretty good about that right now all things considered.
Tussiemussies
4-16-15, 10:57pm
Good luck..I hope it all falls into place for you. You sound so happy about this place...
I agree with doing the letter. The fact that they are willing to consider you still seems like a good sign. Fingers crossed!
the walls are not white, and i get to choose one wall they will paint an accent color, ahhhh
pulled all the information together
Good luck! I hope everything works out the way you want it to!
Thinking good thoughts that it will work out for you.
lessisbest
4-17-15, 9:38am
Dave Ramsey urges people to make sure they pay their rent early or on-time in order to establish payment credibility. If you have successfully done this, get something in writing from your landlord confirming your diligence in early/on-time payments, or show a photo copy of payment receipts or canceled checks, perhaps that will help.
Teacher Terry
4-17-15, 7:22pm
The letter is a great idea. Good luck:))
so the answer is no, i am taking it pretty hard not because i have a problem with my bankruptcy but because i have only had one other place i could look at and it was not available until 4 days after my drop dead move date.
i actually told the person on the phone that lots of people lost pretty much everything in the recession, but we still needed a place to live. my letter, rental history, lack of debt, none of it actually mattered so there really is nothing i could have done. i could pay the BK a little faster and that is all i can think of.
on the list next is to email landlord, post on my local Facebook groups and get a storage unit. i think i am also ready to let more stuff go although i may still need some storage space. maybe even scanning the essential paperwork from the boxes of paper and getting iCloud or something. i heard there is a group on for a scanner
iris lilies
4-17-15, 10:38pm
so the answer is no, i am taking it pretty hard not because i have a problem with my bankruptcy but because i have only had one other place i could look at and it was not available until 4 days after my drop dead move date.
i actually told the person on the phone that lots of people lost pretty much everything in the recession, but we still needed a place to live. my letter, rental history, lack of debt, none of it actually mattered so there really is nothing i could have done. i could pay the BK a little faster and that is all i can think of.
on the list next is to email landlord, post on my local Facebook groups and get a storage unit. i think i am also ready to let more stuff go although i may still need some storage space. maybe even scanning the essential paperwork from the boxes of paper and getting iCloud or something. i heard there is a group on for a scanner
Oh, I'm sorry to hear it.
is it at all realistic to think that your parents might co-sign for your lease? Is that something landlords do?
my parents would co-sign, i fuss about them too much. when it comes down to it they do support things like this. i am not sure my landlord would give a reference, i have rented for 4 1/2 years and a couple times had a hard time with rent, she doesn't like the way i take care of the yard and i don't like how she doesn't fix things. but i can say that i have lived here for a certain amount of time and that my rent is current,
i am ready to just fix all this in my life, i mean people have a hard time right? meanwhile i may be kinda screwed.
i can say that i have lived here for a certain amount of time and that my rent is current
A smart landlord would not give any more of a reference than that. Time rented and payment history is verifiable and objective. "Don't like the way she took care of the yard" opens up the landlord to follow-on questions and a lot of subjective explanation and perhaps even a lawsuit. Smart people won't go there.
I certainly would tell a prospective landlord if a (former) tenant of mine had trashed the place or was often late with payments if that were the case. But the rest of it? No way.
i am ready to just fix all this in my life, i mean people have a hard time right? meanwhile i may be kinda screwed.
It sounds to me like a situation in which you might do better networking through friends/organizations to which you belong to find a landlord who has one or just a few properties rather than a "management firm". You could also think of what you can offer to sweeten the pot beyond the typical tenant. I don't know that this particular tactic would work, but would you be able to offer, say, putting in escrow a couple months rent beyond the month-to-month to assuage fear of the BK? Or is there something else you could do to address your financial history?
Zoe, sorry to hear about the renting trouble. Was this a house you were trying for? If so, I'd suggest trying for a condo. Your son is the only one left at home, correct? If so, go for a two bedroom. It will be easier on a budget. Plus, with all you've got going on, not having a yard to take care of would be a big plus.
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