Renting After Bankruptcy? – Denver Bankruptcy Attorney

You’re looking at filing for chapter 7 or chapter 13 bankruptcy. And now concerned that whether renting after bankruptcy will be a problem. Then worry not, because bankruptcy cannot stop you from renting an apartment. But it is a bit more difficult as compared to the normal circumstances. Because the potential landlords are sometimes reluctant to rent an apartment to someone having financial issues. But there exist some factors that can increase your chances of success even you’ve filed and got your debts eliminated. Read this article to know such factors and how you can use them in your favor.

Although filing bankruptcy provides instant relief from debt obligations people are also concerned about its downsides. In fact, many of our clients in Colorado want to know about the future outlook of their credit score. And how much it will affect their ability to buy or rent a property. You might be surprised to learn bankruptcy can actually improve your credit.

Well, due to the tight rental market in Denver, Colorado, renting an apartment has become difficult for anyone. But it becomes even harder when you have bad credit or have filed for bankruptcy. Because the landlords and property owners are always reluctant to enter into a contract with someone struggling with financial problems.

Apparently, bankruptcy filing may hinder your ability to rent a new apartment but still, you can find a willing landlord. Because bankruptcy is not the only factor that they consider before renting out a property. And a person having a bad credit history or wage garnishments also have equal chances to get rejected. Let’s take a look at some of the most important factors analyzed by the property agents while renting an apartment.

Employment History and Renting After Bankruptcy

Your employment history helps to check your reliability that how much you are responsible when it comes to fulfilling obligations. Besides, a potential landlord will also be interested in knowing whether you have a permanent job. Also, he will also analyze your average time spent on each job, pay rates and wage history. It will give them an overview of your financial decisions based on available resources. Ultimately deciding your risk of renting after bankruptcy.

Disposable Income and Renting After Bankruptcy

While your bankruptcy may not affect your renting ability but having little to no income can! If you are earning enough to pay your monthly rent. Then a landlord will less likely to consider the fact that you have filed for bankruptcy. In fact, it will be a good sign for them that you currently have no unresolved debt issues. Cash is king!

Rental History and Renting After Bankruptcy

This is one of the most important factors used by the landlords to determine your reliability. If you don’t have unlawful detainers and evictions at your rental history, renting after bankruptcy doesn’t need to be difficult. On the other hand, a person having his rental history riddled with late payments and evictions lawsuits have greater chances to get rejected as compared to the one who has only filed for bankruptcy. It means bankruptcy should never be a problem if you have a source of income and have clean rental record.

In fact, anyone can get caught into financial issues and most of the landlords understand this. They only want you to act responsibly as a renter.

Tips for Renting After Bankruptcy

It is obvious that renting an apartment after you’ve filed for bankruptcy becomes difficult due to your bad credit score. But there are still some ways that enhance your chances of success.

  • Don’t aim for large corporate apartment complexes

It’s a fact that these complexes have very tight renting standards and they’ll simply say no to bankruptcy filers. In fact, same will be the case with those having bad credit. So, you are nowhere worse off if you’ve filed bankruptcy to get your debts eliminated. Conversely, small companies or individual landlords are more likely to approve your renting application. Because they are comparatively more rental-friendly and you can get succeeded if you have a stable income source.

  • Use your rental history to convince them

If you’ve been a good tenant previously, you can use this fact to support your application. It can be done by getting a reference letter from previous landlords or by presenting canceled checks. But you need to be honest here as a potential landlord may cross check the info you are providing. If they find that you are a responsible tenant, your bankruptcy will no longer matter to them.

  • Offer large deposit

While it may seem difficult for a person already struggling with financial issues. But somehow, if you can manage to pay a large deposit which is more than their initial requirement. Your potential landlord will take it a huge incentive and your chances of renting after bankruptcy with increase.

  • Try to talk to your landlord in person

In most of the cases, you get a chance to explain your situation personally. Use this opportunity to tell your story that how unexpected circumstances resulted in the bankruptcy filing. And that your finances are more stable as before. Well, it’s definitely not like talking to the loan officer where any such request goes unnoticed. A potential landlord will, in fact, listen to you and may also alter their rules to accommodate you.


Lastly, don’t be embarrassed by your situation. Your bankruptcy by any means is not a reason to settle for substandard housing. It might take some time, but you can get the right place if you have good rental record and income. Do some research and hopefully, you’ll find your desired apartment using these tips.

Free Bankruptcy Consultation

Don’t let your concerns of renting after bankruptcy keep you from a fresh start.  Contact Barry Arrington today for a free bankruptcy consultation.

Renting and bankruptcy

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