Rentals in Ruther Glen>Question Details

Priscilla, Renter in Ruther Glen, VA

how soon can you rent after you file bankruptcy?

Asked by Priscilla, Ruther Glen, VA Sun Mar 25, 2012

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Hi Priscilla, Good question - it is my understanding that you must be completely discharged from bankruptcy before you can enter into a lease with anyone. I have had landlords in the past rent to someone with a recent discharged bankruptcy. Your credit may be an issue, but if you have the income to support the rental amount, then you may be fine. It is usually on a case by case basis and possibly with an extra deposit. My suggestion is to call a local REALTOR like myself to assist you with your particular situation. 703-861-6205. Thanks, Sandy
0 votes Thank Flag Link Sun Mar 25, 2012
hi sandy i would like to know how soon can you buy a home my bankruptcy was discharged last year
Flag Mon Jul 1, 2013
Renting is much different than buying. You obviously need to live somewhere, and if you do not own a home, than you are likely needing to rent a home or apartment.

If you are interested in renting from a rental complex than you shouldn't have much trouble although they may require an extra months security deposit etc.

If you are looking into leasing from an individual owner/landlord, you might have a bit more trouble as they have more risk. An individual owner does not have the same liquidity as a large corporation so they need to make sure they have a more financially stable tenant. They feel the hit more if there is an issue or late payments on rent.

Often times with residential leases you are required to submit an application fee with your rental application to the Real Estate agency. You might want to discuss your financial (bankruptcy) situation with the listing agent first so you are not waisting your money on an application fee only to find out that they reject you because of the bankruptcy when you could disclose that upfront.

Good luck,
0 votes Thank Flag Link Sun Mar 25, 2012
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