Finding an Apartment After
Bankruptcy
This is a problem area
for most people. If you are in search of a new apartment and have a bankruptcy on your
record, you can expect to run into problems. The best apartment deals for you are those
for small properties where you’re dealing directly with the owner or on-site manager.
These people are much more open to discussing your situation and more prone to go with
their “gut feeling” when making a decision.
If you stumble into one of those big high-rise buildings, you can expect to be shown the
door very quickly - just as soon as they hear (or see) the word bankruptcy. You’re
dealing with a landlord who couldn’t care less about your problems. They’re too
busy protecting their hindquarters to take even the slightest risk on you.
When you find the right pad, be prepared. Bring with you a nice, typed, well-written
explanation of exactly how and why you were forced into bankruptcy. Be sure to include a
paragraph or two listing the steps you’ve taken to rebuild your financial life after
your discharge was complete.
Also be prepared to provide personal references who have known you for as long as
possible, a few months extra rent as security (only if absolutely necessary) and if
possible a signed statement from your current and/or past landlords. If you must, offer to
provide a cosigner as a last ditch tactic. Unless the rental market in your area is
saturated at the time (which is rare), you should be able to find several good properties
if you’re armed with the ammunition listed above.
If there’s a recession on when you’re looking - you’re in luck. When the
economy is bad you can expect much more latitude as landlords are more than eager to find
new tenants and much less likely to be picky about your financial past.
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