By: Darrell Castle
For many people who file for a Chapter 13 bankruptcy, or are considering doing so, they fear their ability (or inability) to rent a home or apartment again.
Are you able to rent after a Chapter 13 bankruptcy? Well, sure.
(Chapter 13 bankruptcy is a very powerful tool. Find out about ALL of its benefits by downloading my FREE report, The Power of a Chapter 13 Bankruptcy.)
Once a case is finished, there’s no financial hold on you, legally. You can rent or buy anything you can afford and that someone will sell to you, including a house or an apartment.
A creditor — such as a leasing company — may see you’ve filed for a bankruptcy and deny you, but you can attempt to rent from another creditor right down the street. Going through a Chapter 13 bankruptcy and completing it can actually show a form of financial responsibility and some creditors may see it as so.
Chapter 13 Bankruptcy
A common misconception among people filing a Chapter 13 bankruptcy is that you can never have credit again, whether it’s a credit card, car payment, rent payment, etc. This is simply not true.
To the contrary, you should use a bankruptcy as a fresh start to get your finances in order and re-establish and rebuild your credit the right way. At Darrell Castle & Associates, we have access to a 14-week program that will teach you how to do that.
Some creditors — such as a leasing company — understand that people who have filed for a bankruptcy can easily get behind on their rent, refile for a Chapter 13 and include their rent in it. This could potentially be a factor you must overcome.
In short, if you’ve completed your Chapter 13 bankruptcy, you can rent an apartment or a house, there’s just a chance you may have to try multiple leasing companies. Just be sure to use this situation as a fresh start and make your rent payments on time to help rebuild your credit the correct way.
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If you’ve been considering filing bankruptcy but you’ve had the fear of not being able to move to a new place, let us help ease your fears.
A bankruptcy is nothing to be afraid of, especially when you have an experienced law firm to help you make the decision as to whether or not it’s right for you.