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Major Bankruptcy Problem

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Anonymous
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Major Bankruptcy Problem

In early 2016, I found out my job at a corporate office was moving their corporate office from one state to another. I was forced to find a new job. I knew I was going to take a pay cut since the job I had was tough but I was well compensated for it (better than anyone else in the area). I ended up transfering to one of the franchisee locations, taking almost 1k/mo paycut in the process. As a single mother already living week to week, I knew I had a huge problem. I was proactive and filed bankruptcy even before falling behind on my bills. In fact, I paid all my bills on time until it was discharged (08/09/16).

 

I was able to keep a credit card and my car. So I thought rebuilding would not be an issue. Here is my problem, which I am not sure should be (by law) part of a bankruptcy issue at all.

 

My boyfriend and I broke up and we lived together. Things got really bad at home so of course, I needed to get out. I can't get even an apartment complex to approve me due solely to the bankruptcy. I have excellent credit aside from that (nothing else in collections and no late payments ever) as well as an excellent rental history. BUT NOPE. Doesn't matter. I have been turned down from everyone I have applied to and contacted.

 

Why on Earth would a bankruptcy affect my ability to pay rent??? IT DOESN'T! The fact that you can't file again for 10 years should make you more capable than the average person. I don't get it. I am finding these places have a MINIMUM 2 year waiting period after discharge, some up to 7 years!

 

So now I am stuck....in the same house with my crappy ex in terrible living conditions.

 

My advice to you...DON'T FILE if you think there may be even a slight chance of needing to move within 2 years, it won't happen. Even my bankruptcy attorney was unaware of this issue ahead of time.

 

Sincerely~

Stuck 

Message 1 of 16
15 REPLIES 15
Anonymous
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Re: Major Bankruptcy Problem

Are you asking the complexes that have turned you down for a reconsideration and explaining the circumstances to them? 

 

If you have and that goes nowhere, I'd say skip the apartment complexes and rent from a private party. You absolutely CAN get a new place.

 

 

Message 2 of 16
Anonymous
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Re: Major Bankruptcy Problem

What are your scores btw? Is the car you kept reporting monthly? Do you have just the one credit card?

 

It's possible they could be blaming the BK but it's the scores/amount of rebuilding you've done that is holding things back.

Message 3 of 16
Anonymous
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Re: Major Bankruptcy Problem

This situation is highly dependant on the area you are in. I have rented two apartments in recent years with a BK and all sorts of other delinquencies. All they cared about was anything residential related - broken leases, unpiad utilities, that sort of thing.

 

Definitely a YYMV sort of thing.

Message 4 of 16
Anonymous
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Re: Major Bankruptcy Problem


@Anonymous wrote:

Are you asking the complexes that have turned you down for a reconsideration and explaining the circumstances to them? 

 

If you have and that goes nowhere, I'd say skip the apartment complexes and rent from a private party. You absolutely CAN get a new place.

 

 


Absolutely. I have explained the whole situation. They either won't even talk to me as soon as they hear the "B" word or in a couple cases said they could not change the guidelines for any reason.

 

In my area, there doesn't seem to be any owner-managed properties. I have been looking for a month now on Craiglist, ApartmentFinder, local paper adds and Zillow. ALL are either property managers or Apt complexes which are also property management companies. I have looked for houses, duplexes and apartments. At this point, I am not picky. But no luck after about 40 inquiries and 7-8 apps over the past month.

Message 5 of 16
Anonymous
Not applicable

Re: Major Bankruptcy Problem


@Anonymous wrote:

What are your scores btw? Is the car you kept reporting monthly? Do you have just the one credit card?

 

It's possible they could be blaming the BK but it's the scores/amount of rebuilding you've done that is holding things back.


My score is about 675 right now. I have 5 credit cards right now (about 20% utilization). The only reason I have been given is bankruptcy. I am just surprised. Bankruptcy doesn't make anyone a bad tenant.

 

My car is reporting monthly. All show "OK" for past 2 years, no late payments.

Message 6 of 16
Anonymous
Not applicable

Re: Major Bankruptcy Problem


@Anonymous wrote:

@Anonymous wrote:

Are you asking the complexes that have turned you down for a reconsideration and explaining the circumstances to them? 

 

If you have and that goes nowhere, I'd say skip the apartment complexes and rent from a private party. You absolutely CAN get a new place.

 

 


Absolutely. I have explained the whole situation. They either won't even talk to me as soon as they hear the "B" word or in a couple cases said they could not change the guidelines for any reason.

 

In my area, there doesn't seem to be any owner-managed properties. I have been looking for a month now on Craiglist, ApartmentFinder, local paper adds and Zillow. ALL are either property managers or Apt complexes which are also property management companies. I have looked for houses, duplexes and apartments. At this point, I am not picky. But no luck after about 40 inquiries and 7-8 apps over the past month.


You may be forced to look in outlying areas and commute.

Message 7 of 16
Anonymous
Not applicable

Re: Major Bankruptcy Problem


@Anonymous wrote:

@Anonymous wrote:

@Anonymous wrote:

Are you asking the complexes that have turned you down for a reconsideration and explaining the circumstances to them? 

 

If you have and that goes nowhere, I'd say skip the apartment complexes and rent from a private party. You absolutely CAN get a new place.

 

 


Absolutely. I have explained the whole situation. They either won't even talk to me as soon as they hear the "B" word or in a couple cases said they could not change the guidelines for any reason.

 

In my area, there doesn't seem to be any owner-managed properties. I have been looking for a month now on Craiglist, ApartmentFinder, local paper adds and Zillow. ALL are either property managers or Apt complexes which are also property management companies. I have looked for houses, duplexes and apartments. At this point, I am not picky. But no luck after about 40 inquiries and 7-8 apps over the past month.


You may be forced to look in outlying areas and commute.


I have done that too. Checked about a 20-30 mile radius from work. Which around here is up to 1-1.5 hour drive.

 

What is YYMV by the way?

Message 8 of 16
Anonymous
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Re: Major Bankruptcy Problem

Oops - that should habeen "YMMV" - "Your mileage may vary", just slang for a situation that varies quite a bit.

Message 9 of 16
Anonymous
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Re: Major Bankruptcy Problem


@Anonymous wrote:

Oops - that should habeen "YMMV" - "Your mileage may vary", just slang for a situation that varies quite a bit.


Oh that makes more sense lol.

 

I Googled it and only thing it came up with was "Your Yak May Vomit" haha. Thanks for the help.

 

I just wish I knew this would be a problem prior to filing. I knew buying a house was off the table for 2 years but renting too?? Ugh

Message 10 of 16
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