People in Davidson who file for Chapter 7 bankruptcy often have to move out of their home and turn it back over to the bank. If they have fallen behind in payments, they could have trouble with their credit rating and this can make it difficult for them to rent an apartment. Despite a bad credit rating, there are things that people can do to convince a landlord to accept them as a tenant.
It is said that honesty is best, and this is especially true when it comes to dealing with apartment complex managers. A letter should be submitted with the application that gives information about why the credit rating is so low. Accompanying the letter, people can try to reassure landlords by telling them that they are more than willing to pay a security deposit that is higher than what is being asked.
Letters of recommendation and proof of income may also persuade an apartment manager that people are responsible and able to meet their obligations. These letters may come from other landlords or people who have first-hand knowledge of the applicant’s reliability. Likewise, people may find success by having a family member or friend co-sign with them on the apartment as this gives the landlord some form of security that the rent will always be paid. Cleaning up one’s credit report and looking for places that don’t require a credit check may work as well.
Bankruptcy can give people the ability to reorganize their finances and eliminate high interest debt. There are many options for people who have become overwhelmed with monetary obligations. Therefore, it may be a good idea to meet with an attorney who handles these types of matters.
Source: TIME Money “How to Rent an Apartment Even if You Have Bad Credit,” Chad Fisher, Nov. 19, 2015