“Dear Steve,
I’m working full time, am having trouble paying everything. I have to borrow from one credit card to pay all my bills, including other credit cards.
I owe almost $30,000. in credit card debt. If I file for bankruptcy, will I ever be able to rent again? Landlords always seem to check credit reports.
Jan”
Most money news tells you what happened. I tell you what to do about it.Every weekday I read the enforcement actions, filings and fine print the outlets skip, and turn them into the one or two moves that actually improve your position — a rate worth moving for, a fee you can refuse, a deadline to beat before it costs you.
In the latest issue (Oct 8): A parent's nursing home bill can become yours
I write Your Money Actually most weekdays — actionable money information you will not find anywhere else, and the small decisions that compound. It is free, I sell nothing, and I take no money from any company I write about.
Dear Jan,
It is true that the commercial apartment complexes do pay more attention to a credit report but there are some ways around this.
I had a client in the past that went bankrupt, and because he went bankrupt he was able to save up twice the security deposit normally requested. I asked him to approach the apartment complex, be up front and honest about his bankruptcy and offer two months rent as a security deposit, they agreed.
I’ve also had other people that were not able to get approved at a local complex but instead turend to a private landlord without any problems at all.
The Daily Money Brief — Free, at 10 AM
Money you may be owed, scams to dodge, and the fine print decoded — the consumer money news that affects your wallet, every weekday.
While a recent bankruptcy may make the process of renting more cumbersome, it usually does not prevent you from finding a place to rent.
Facing a Similar Situation? You’re not alone — and you have more options than you think. Start with the all your debt relief options page to see what’s realistic, or take the 2-minute bankruptcy quiz if the debt feels unmanageable. Federal Reserve research shows filers recover faster than those who don’t file. If a company is involved, run them through the Scam-O-Meter first.
