Apartments That Accept Bankruptcies Near Me

Apartments That Accept Bankruptcies Near Me!

It isn’t enough to just research “Apartments That Accept Bankruptcies Near Me” you also have to prove to the landlord he needs to rent to you.  In the past, bankruptcy in Louisville, KY, may have been a source of difficulties if you were looking to find apartments. Bankruptcy can take months or years to be discharged. Having your credit recover can take longer.

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If you are searching for an affordable apartment in Louisville, you cannot afford to wait. Generally, managers do not like giving their apartments to people with broken leases or bankruptcy issues.

Getting a fresh start is vital if you are experiencing problems with your manager. For this reason, convincing the property manager to show you apartments that accept bankrupt renters can be challenging. Apartment vacancy runs about 20%. The job of contacting prospective renters, searching, servicing, and filling the empty units never ends. Some perks include utility service and income-based rentals for clients willing to search for the right Louisville rental company after a foreclosure, bankruptcy or eviction.

Your budget is already tight to live with. Often, when you file bankruptcy, the cost of insurance and other items can increase. If you are moving from an old apartment, you should change apartments before a bankruptcy filing. You may have good credit before you file bankruptcy, but finding houses and condos becomes harder after you file.

One of the critical factors that apartments in Louisville, KY, are concerned with is whether your bankruptcy filing is over or bankruptcy filing is still active. The list of websites where you can find apartments is listed below, but read this article so you will say the right things in your application to be approved.

How to Rent Houses and Apartments that Accept Bankruptcy?

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Apartments That Accept Bankruptcies

Some landlords will rent their properties to residents and accept renters with bankruptcy. The reasons why they will rent to you include the factors:

1. Did You Get a Discharge Recently

If you just got a discharge, you will not be able to get a new discharge for eight years after Chapter 7. The rental manager doesn’t have to fear your filing a Chapter 7 again will hurt the business.

However, the Chapter 13 debtor can convert his Chapter 13 to a Chapter 7 or dismiss his current Chapter 13 case and add the new lease to a new case.

2. You are Now Debt-Free from Unsecured Debts

After you get a discharge, you no longer owe any unsecured debt. You are often now much more able to repay your bills. Having financial problems becomes unlikely. You usually don’t have any debt other than a possible car loan and his lease after your Chapter 7 discharge.

3. Age Your Bankruptcy Discharge Order

Slowly but surely, as time moves on, your discharge becomes less relevant and vital. It may have been necessary when you filed. A bankruptcy a couple of years old is no longer helpful in determining whether you will repay on time.

If you repay your auto loan and other secured loans on time during and after the bankruptcy, you are more likely to be approved to rent a home or apartment.

4. Build an On-time Payment History

Remember, it takes time, but bankruptcy becomes less and less relevant as your on-time rent payments history rebuilds your credit. Your income and dogs are not as important as paying on time. We have all had struggling times with an account or moment in life. That on-time history of payments will help you to find an apartment.

5. Find a Roommate Partner

If you can not qualify on your own, find a reliable roommate who can qualify. This may be fine if you are a student and it has spare bedrooms.

6. Listing References

If you have one, supply references for your previous apartment manager and previous landlords or employer. A good reference from a prior landlord is the one item that will help you get a new lease. Landlords become experts a looking up prior evictions and landlords.

7. Employment History and Security Deposits

A long-term job history and a hefty security deposit can persuade a landlord under the worst conditions. The landlord wants to reduce his risks. You are looking to prove his chances will be low, and a stable employment history is essential. If he has a substantial security deposit, you also reduce his risks.

8. Be Honest about Finances

Nothing destroys trust faster and signals you will be a problem than being caught in a lie. Many people attempt to cover up the fact that they filed for bankruptcy. Declaring your finances honestly can help build trust in you.

9. Look for Private Property Landlords

Private property owners are much more likely to rent to someone with a bankruptcy. Banks often own large apartment complexes. It is hard to persuade an ATM, and banks rarely have anyone you get to talk to.

10. Create a Good Rental History

An excellent rental history and references from previous managers in Louisville, KY, will remove most barriers to obtaining an apartment and renting.

11. Permanent Jobs

A permanent job will ensure you can save enough money for every month’s rent. Your employment history with gaps in it proves you may be unstable or unreliable. But some jobs are stable. The landlord wants reliability and the ability to pay. You can become unstable when you only have seasonable employment, such as working for Churchill Downs, which is seasonal employment.

Work on Why You Are Filing Bankruptcy

Your filing bankruptcy is often not as important as why you filed it. Rentals and military security clearances want to know that you are a stable person. If you filed for bankruptcy because your employer went out of business, the bankruptcy was no fault of your own. Many causes of bankruptcy, such as a national disaster or medical debt, have nothing to do with your moral character or stability and whether you are a risk today.

Why Filing Bankruptcy

Suppose you are filing a petition for bankruptcy due to gambling addiction. In that case, obtaining a military security clearance or suitable rental with appropriate amenities in KY becomes hard or impossible. Bankruptcy does not solve these problems. You must show the landlord you belong in the first category of people who responsibly file bankruptcy, not the second.

Show the Landlord

Bankruptcy is not an ongoing problem. If you become ill, the renter may be worried that you may continue to be sick and be unable to meet your rent. The landlord is concerned with lowering his risks. It is essential to show the landholder or a concerned employer why Chapter 13 was a responsible choice that now allows you to pay your current debts timely. They want reasons and not excuses for bad credit.

Manage your Finances

If you explain the conditions to the landowner, which indicates you will be a problem in the future, you will not get the apartment or home. If you file bankruptcy due to an auto accident where your insurance wasn’t enough to pay the debt, it is unlikely such an accident will repeat itself.

The Bankruptcy Case Status is a Large Factor

Whether the bankruptcy is currently going on, whether it was a Chapter 13 or 7, and whether you paid your Chapter 13 plan payments on time during and after the bankruptcy will affect how a landlord will rent to you. Having your Chapter 13 dismissed for non-payments does not look good. You have a history of on-time plan payments does look good.

A person who files Chapter 13 may be more responsible by paying back what he can. But the Chapter 13 debtor can also add a lease to his case. The Chapter 13 debtor may also be able to convert his case to Chapter 7 or dismiss Chapter 13.

What is the Landlord Worried About?

What happens is that the landlord is concerned that his debt may be included in the bankruptcy filing and become discharged. Debts that occur after a bankruptcy is filed are not discharged in Chapter 7. When a Chapter 7 case is filed, the new apartment should not worry about its debt because it is a post-filing obligation.

However, the fact is that landlords do worry. They don’t understand how bankruptcy works. In Chapter 13, debts can pile up after the case is filed. Often, the Chapter 13 case is converted into a Chapter 7. Or the Chapter 13 case can be dismissed, and a new Chapter 7 can be filed.

Many Chapter 13 cases are filed because you can only get one discharge every eight years. You do not have to wait so long to file a Chapter 13 case. So you can file a Chapter 13 to wait until you can file a new Chapter 7. These conversions from Chapter 13 are often why an apartment takes a loss.

With Chapter 13, you can have debt that happened post-filing, which is discharged later by dismissing the case and refiling Chapter 13 or by conversion to Chapter 7. Most landlords only have to be burned a couple of times, and then they never monthly rent to someone in Chapter 13 again.

How Can the Landlord Affect the Process?

Banks and corporations operate the larger apartment complexes. They will have an intake application process that will not allow you to add comments on the circumstances that caused the bankruptcy.

You essentially are talking to a computer that will look at your credit score to determine whether you can rent from them or not. If your FICO score is high and you pay a large deposit, you have a chance of renting from a large complex owned by the bank.

How Landlords can Effect the Process?

But it is far easier to rent from an individual and explain upfront. You can offer a large security deposit and show how you have been on time before, during, or after the bankruptcy. These are often duplex apartments. Pay on time and obtain a strong past rental history of repaying rent. References and offering a parent or co-signer for the rent may help convince a private owner that you will be an excellent tenant.

Honesty is the Best Policy!

Landlords will run a credit check on anyone who wants to apply for an apartment. If you are dishonest with them in the application, there is a valid reason for you to get rejected. Tenants who do not submit rent on time are commonly dishonest, and you will be rejected for that reason.

Apartments That Accept Bankruptcies

One sure-fire method of obtaining an apartment or home is to move in before you file bankruptcy. There is nothing wrong with that. If your credit score is good and you apply to rent an apartment, you will likely obtain what you want.

If you search but struggle to get an apartment that accepts bankruptcy in Louisville, you do not need to worry because Nick is here to guide you through the procedure. Contact us to get legal advice and schedule a free consultation.

Apartments that Accept Open Bankruptcies Near Me!

So if your case is still active, how do you get an apartment on poor credit and find affordable apartments? The problem is that the owner or property manager doesn’t trust or know you.

You may be entirely trustworthy. Previous landlords may be willing to give you an excellent reference to help you find apartments in Louisville that consider all the factors and not just your credit report. A prior landlord may want you back or know another landlord who needs a quality tenant.

Fewer Apartments are Advertised These Days in the Newspaper!

Often, what you are looking for will be one of the following websites.


Look to a private owner to rent to you. Spend time getting to know him and bring proof of why you filed for bankruptcy and how that won’t affect your ability to afford the rent. Tenants who don’t pay rent have excuses for non-payment. The worst nightmare for an owner is someone who doesn’t take care of the house or doesn’t pay timely rent payments.

Remove these risks, and you will get access to better properties when you contact the owner. Offering to help take care of the property means less money out of his pocket if you have the time.

Louisville Retirement Rentals

Louisville, KY, has some of the nicest properties with reasonable pricing compared to other cities. Our neighborhoods often have older owners living next to parks who rent part of the building to residents.

Renting out bedrooms or part of a home while they are struggling on social security provides them with supplemental income. This income means they don’t have to take on a job in their 80s. These situations where you can help mow the lawn or keep them from becoming dependent on their children can be a lifesaver for older property owners.

Many times, these homes have amenities you can’t find elsewhere. And Kentucky has a lot of these retired homeowners. Often, historic homes have a similar problem. Finding clients who will care for the unit of a historic home keeps Louisville one of the most attractive zip codes to live in, especially around the University of Louisville campus.

Find a Company or Service that Understands

Often, people who file bankruptcy will have a plan to get their finances back on track. Things go wrong in everyone’s life. Death, disability, divorce, and being discharged from a job happen to everyone.

Banks often run large apartment complexes and accept renters based on a computer score. Other landlords also rent properties based on whether or not your credit score is high or whether you have a bankruptcy filing within several years.

There are some no-credit-check apartments in Louisville, KY, but often these are not affordable housing because they factor in the risk to the cost. You can often avoid the cost by offering a larger security deposit, but then you may fall prey to landlords who rent with the intent of keeping the deposit.

Apartments for Rent that Accept Bankruptcies Near Me!

The hard problem is how to find affordable housing. Accept the idea that bankruptcy does not improve your application for renting a single-family home or house. You can argue that you filed a Chapter 7, and now that your debts are discharged, you cannot file again for eight years.

Bankruptcy filing is always a possibility for someone who hasn’t filed. If you just filed for bankruptcy, you probably don’t have any debts that would keep you from paying rent.

The landlord has to fill his house with someone. If you have the income or ability to pay, the background of paying rent on time, and the credit history of paying bills, you will look more attractive to an owner with listings.

Every owner needs to lease to someone who will pay rent and care for the property. If you can overcome his fears and satisfy him that he has little or no risks, he will likely rent to a responsible person looking for an apartment or home.

Apartments Near Me That Accept Bankruptcies!

Enough about credit check apartments and what a property manager is looking for. How do you find apartments in Louisville, KY, that rent to people with have filed for bankruptcy? What search criteria should you use in your current search for a place to rent?

First, avoid the larger apartment complexes. They will charge a high fee to take your application. The property manager already knows when he takes your application whether or not the apartment complex will take someone who has had a bankruptcy. The private property owner or complex will often take the application, knowing it will be turned down. It is just another source of revenue for them. Always be wary of a place that charges you for applying to rent. There are a lot of scams out there. Many people have paid for an apartment, and then the landlord disappears.

Searches in Kentucky for Neighborhoods and Cities You Have an Interest in

Start your current search with zip codes and new listings in Louisville, KY, which are close to work. Your searches should be for cities close to school or work. The property should also be something you can easily afford.

Properties that are close to schools keep your transportation costs lower. Keep searching until your find the property with enough bedrooms and the basic amenities you require. This problem of finding an apartment is not a permanent situation. Over time your poor credit score and the bankruptcy will age and become less and less relevant. A private owner is much more likely to rent to you.

A property management company manages homes for rent; they often offer the perfect situation where an owner or manager will accept a lease on a single-family home. When you search Louisville, KY, for houses and condos, make sure you have saved up for the deposit. The owner will often primarily be interested in your income and how you have paid prior landlords. But putting down a substantial deposit should make him less nervous about any risk.

 Frequently Asked Questions

1. When Will Landlords Rent an Apartment after Bankruptcy?

Most people can find an apartment by the time they get discharged from their Chapter 7 bankruptcy, which is 3-4 months after Chapter 7 is filed. Those who have filed for Chapter 13 bankruptcy will at least receive a confirmation order within three to 6 months of filing and will build a history of on-time payments.

2. Is There Any Illegality in Bankruptcy Discrimination?

Yes, it is legal to use this as a basis to deny a person a job, apartment, or rent. However, government agencies are prohibited from discriminating against clients who file for bankruptcy. A consumer cannot be discriminated against based on race, religion, national origin, sexual preference, or marital status.

3. Why Does a Landlord Need My Credit History?

A landlord will check your credit history to verify:

  1. Bankruptcy filing
  2. Income
  3. Evictions
  4. Foreclosures
  5. Debt payment history

A leasing company will look for foreclosure of any previous owner rentals you have with your previous clients because it is likely that you may not be able to get the apartment you desire if you have a broken lease.

4. What Can You Do to Improve Your Chances of Getting an Apartment?

You can take the following steps to improve your chances of getting an apartment in Louisville, KY:

1. Sharing an Apartment

Shared apartments in Louisville, KY, can be an excellent place to live because, in that case, you may not have to show your credit card details. Sharing brings down the pricing of condos and allows you to live in a better location. Students may be happy with just a bedroom in a two-bedroom unit. If that isn’t an interesting solution, then there is a website that helps in searching.

2. Looking For Property Before Bankruptcy Filing

To avoid problems, you may wish to lease a property in Louisville, KY, before filing for bankruptcy. Some have utilities included.

3. No Credit Check Apartments

Look for no-credit-check apartments to avoid being hindered by your credit. However, these are rarely quality apartments.

4. Properties and the right Louisville Site location

Pricing will have a lot to do with where the property is located; every property will need to fit within your budget. One point to remember is that the bank that owns a complex looks at income carefully. Your income has to show you can afford the apartment. Choosing another area often means a lower rent, which can match your income.

Contact Our Office for Detailed Guidance!

We do suggest that you start your search before you file bankruptcy. You can schedule and plan your bankruptcy with us, so you don’t have to search for a location later for apartments. Expect pricing to be a little higher if you wait until after filing to begin your search.

But the price you pay for an apartment or home will be used as a reasonable and necessary expense in your bankruptcy budget and schedules. Having a slightly more expensive unit in one of the more excellent neighborhoods can help you qualify for a lower Chapter 13 plan payment or Chapter 7.

You can repay creditors or provide for your family. Often, you can’t do both. Living in nicer neighborhoods is an expense. You usually need and do not just want better amenities and a larger bedroom. By budgeting and doing the search to find apartments, you will usually qualify for the means test and have the expenses you need to file a Chapter 7.

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