Stressing and would love guidance

Anonymous · ‎06-17-2014

I plan to file a chapter 7 this week but am still hesitant for the following reasons: will it affect my job options if I decide to go into a different line of work? I've heard only if it's finance related would it affect me, but I don't know what to believe.

How about where I live? I currently rent an apartment and have a perfect payment history. Some people say only substandard places will take me with a bankruptcy, while others say payment history is more important. Anybody know??

I haven't made a payment to my creditors in 5 years, so my credit is obviously horrible. I finally want to face it and start rebuilding... I keep thinking in 2 more years the statute of limitations will run out and I'll be ok, but do I want to keep dodging them for 2 more years? No

ambivalent · ‎06-17-2014

If it's finance related, perhaps yes. They will check your background, so just make usre you disclose it (if this is your field). Otherwise, I don't think it matters.

I think that payment history is more important. It really depends on the landlord. Those I know who have rented after bk have had no issues. Good luck!

Aiming for 700 across FICO 8 and $150K TCL

Anonymous · ‎06-17-2014

Thank you for that.

0REDSOX7 · ‎06-17-2014

My job was not finance related, but still did a credit check. It didn't impact anything.

BK Discharge 2/11/14

Currently in the garden.

StartingOver10 · ‎06-17-2014

@Anonymous wrote:
I plan to file a chapter 7 this week but am still hesitant for the following reasons: will it affect my job options if I decide to go into a different line of work? I've heard only if it's finance related would it affect me, but I don't know what to believe.
How about where I live? I currently rent an apartment and have a perfect payment history. Some people say only substandard places will take me with a bankruptcy, while others say payment history is more important. Anybody know??

I haven't made a payment to my creditors in 5 years, so my credit is obviously horrible. I finally want to face it and start rebuilding... I keep thinking in 2 more years the statute of limitations will run out and I'll be ok, but do I want to keep dodging them for 2 more years? No

I'm a Realtor and work with people that file Bk and have to find a place to rent on a fairly regular basis over the past several years.

The most important factor is the rental payment history. Some landlords won't allow a recent Bk but that is rare. Most LL's will if an explanation is provided and you can show steady on time paid rental history with previous landlords.

0REDSOX7 · ‎06-17-2014

Would this work for mortgages not reaffirmed? Curious if BofA would give me something saying I paid on time every month.

BK Discharge 2/11/14

Currently in the garden.

04Cobra · ‎06-18-2014

@Anonymous wrote:
I plan to file a chapter 7 this week but am still hesitant for the following reasons: will it affect my job options if I decide to go into a different line of work? I've heard only if it's finance related would it affect me, but I don't know what to believe.
How about where I live? I currently rent an apartment and have a perfect payment history. Some people say only substandard places will take me with a bankruptcy, while others say payment history is more important. Anybody know??

I haven't made a payment to my creditors in 5 years, so my credit is obviously horrible. I finally want to face it and start rebuilding... I keep thinking in 2 more years the statute of limitations will run out and I'll be ok, but do I want to keep dodging them for 2 more years? No

Sorry to hear but I was in the same situation. I'm in the financial industry and they were forgiving about my BK. As always, YMMV.

Anonymous · ‎06-18-2014

Finding a place to live, provided you aren't looking to move, should never be a challenge; if it is, question the ethics of the LL.

Payment history for your basics, utilities and a place to live would represent a good fatih basis. The stress relief from the filing and knowing you can start over is a priceless step that will make your life better.

We rented to people with perfect credit and had the place trashed and to a family with bad credit that had good references and were rewarded.

Get your current LL to act as a reference.