How bankruptcy affects rent?

By Tenant

It can become very difficult for someone who had filed for a bankruptcy to buy a new mobile phone most especially trying to rent an apartment to live. On the other hand, even if you had a bankruptcy in your record, you can still try to get a lease; how difficult it would be depends from the time you filed for bankruptcy to how much money you currently earn. You may need to go above and beyond just to prove that you are not a great risk to prospective landlords.


The effect of having a bankruptcy on your record is listed below.

  • You may be rejected. It really is important to keep your credit history good. Landlords commonly do background checks on every potential tenant, they check every applicant’s credit history and nothing passes their eyes most especially bankruptcy. Credit history is one of the major deciding factors that will determine whether the landlord will approve your application or not. There are some landlords who would only approve your application if your bankruptcy case is over and closed which normally takes 9 months if you file for a chapter 7 bankruptcy and 5 years for a chapter 13. The landlord may opt of giving a monthly rent than a long-term one.
  • You have to pay more. Even though you have a bad credit because of bankruptcy landlords can take you as a tenant that is if you can somehow guarantee your payment for rent. For example, landlords may have to ask you to pay as much as six months rents before you move in instead of only paying 2 months’ rent. They may also ask for a higher security deposit.

Remember that bankruptcy is a public record so it doesn’t really matter if you keep it as a secret to your landlord for they can know. If you are already renting when you filed for bankruptcy the landlord can either change your agreement to a monthly rent or not renew your lease at all.

Edited on: Sunday, March 17th, 2013 12:21 am

15 Responses to “How bankruptcy affects rent?”

My response: (We welcome stories, examples, explanations, answers and a touch of your personality)
 

Isabella

March 17th, 2013 12:40 am

What is the difference of a chapter 7 and chapter 13?


Hertha

March 17th, 2013 3:00 pm

I would definitely not want a tenant with a bankruptcy record.


Larita

March 18th, 2013 5:20 am

It will be hard but it is not possible to rent a new apartment.


Cammie

March 18th, 2013 7:40 pm

How much security deposit do I have to give if I have a bankruptcy on my credit history?


Clarita

March 19th, 2013 10:00 am

Larger security deposits exceeding 1 months’ rent are illegal in some states.


Jacinda

March 20th, 2013 12:20 am

Will a bankruptcy be forever in my credit history?


Tyler

March 20th, 2013 2:40 pm

I have filed a bankruptcy recently and I was thinking of renting an apartment


Dee

March 21st, 2013 5:00 am

I just filed for a bankruptcy and was just evicted at my place


Kerry

March 21st, 2013 7:20 pm

Is there any state that allows a tenant who has a bankruptcy history to move into a nice apartment?


Ema

March 22nd, 2013 9:40 am

Doesn’t refusing a tenant who has a bankruptcy on her credit history falls as discrimination?


Ji

March 23rd, 2013 12:00 am

It is a very big risk to have a tenant who filed for a bankruptcy.


Jovita

March 23rd, 2013 2:20 pm

Can the landlord still deny me the rental unit even I have been a good tenant before I filed for a bankruptcy?


Shanel

March 24th, 2013 4:40 am

Is there any housing help for those who filed for a bankruptcy and cannot afford to rent a new one?


Al

March 24th, 2013 7:00 pm

Can I ask someone to vouch for me in order for me to rent a new place?


Sara

March 25th, 2013 9:20 am

Is it illegal for me to sue my landlord for evicting me due to bankruptcy?


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