The Good News About Apartment Hunting After Bankruptcy
If you're considering declaring bankruptcy but are also in need of housing, you may be very worried about how you'll find housing after you've filed. It can be tough, but it's not impossible, and there are ways to find housing fairly quickly. It just takes perseverance and a willingness to talk.
Sometimes Limits Work in Your Favor
Sometimes landlords will be fine with older bankruptcies. You may see ads for places where there's a note about no bankruptcies newer than X number of years. Don't get discouraged by that use of "years" in the plural; after the last recession, bankruptcy became so common that many places were willing to look at applicants who aren't that far away from their bankruptcy filing.
Private Landlords and Understanding Companies
Sometimes private landlords are more willing to work out a deal or more willing to be understanding of events like bankruptcy. This isn't always the case, especially if you're in a hot housing market. Take a look at ads and obviously, avoid those that prohibit bankruptcy or bad credit. Call management companies and ask them what they would want to see if someone with a prior bankruptcy wanted to apply. That way you can pinpoint companies and complexes where you might have a chance, and you can wait for openings.
Extended Stays Can Help You for a While
Depending on your state and the average rent in your area, you might be able to find an extended stay or residential hotel that's of reasonable quality and that's reasonably affordable. While extended stays are going to be more expensive than a regular apartment, there are regions in the country where you can find some that don't require an arm and a leg to rent. If the hotel does not do credit checks on long-term residents (this does happen in some states), you'll have nothing to worry about in terms of the bankruptcy.
You can stay at the extended stay for a while and let the bankruptcy record become older and older. Remember, the older the record, the less likely it is to affect your ability to rent an apartment. And the best part is that you often don't need a deposit, so all you have to come up with is your first month's rent.
Talk to your attorney about housing issues after bankruptcy and consider visiting a site like http://www.carvajallaw.com/. He or she has seen this all before and may even know of management companies that will be willing to work with you.
