Will Bankruptcy Cause an Impact on Apartment-Renting Process?

Bankruptcy seems to ignite a spark of horror in people. And most of them feel they can’t rent any apartment after this issue. However, things can get harder to obtain desirable lease terms. Aside from taking support from the bankruptcy attorney, there are other details you might be ignoring. Hence, we decided to shed light on the process via this article.

People in OKC usually spend time worrying about the credit score hazard. And we will not lie; the renting process takes a challenging turn. But do you know that the landlord might look at other approachable factors too? Yes! We will observe some essential information that often stays out of your awareness.

At-Present Living Scenario

Let us consider the situation wherein you’re current on the rent. First things first! The automatic stay order takes away the landlords’ right to evict you. Furthermore, this order prevents other creditors from doing the collection against you. But the rent payment process has to continue. What if the lease arrives due again? The following term extension might not happen anymore.

Vital Note: The more extended bankruptcy period minimizes the impact on your rental fitness evaluation. Let us consider two critical conditions now.

Case 1: The Landlord Possesses the Eviction Order- There is a possibility of your landlord acquiring an eviction order before the bankruptcy filing. The best thing you can do then is to reveal the information to the bankruptcy attorney and court. According to what we observe in OKC, the automatic stay isn’t enough to prevent eviction.

Case 2: Lack of an Eviction Order- In this case, the landlord may request to lift the automatic stay and initiate legal action against you.

The Renting Condition After Bankruptcy

Rent-Paying Ability: The crucial thing to consider is whether you can make a lease payment or monthly rent. While filing for bankruptcy, it’s better to carry your income proof. Ultimately, your landlord wants to see that you keep shifting jobs consistently.

Gazing at the Past Rental History: The rental history reveals your on-time rent-paying habit to the landlord. And that shows how sincere you are with this activity. You can obtain canceled cheque copies or current landlord statements for unveiling this information.

Helping You Rise above the Difficult Phase

There are moments when professional assistance becomes mandatory. And such is the case with bankruptcy. Reneau Law Group has been proudly helping clients for over 20 years. So, put all the stress-inducing thoughts aside and get to the core of convenience!

**Disclaimer: The above article does not imply a relationship between attorney and client, nor does it aim to provide any legal advice.