# Life after bankrupcty help!!



## Damselfish (May 21, 2010)

Hi, new poster here. 

My husband and I are filing BK next month due to 3 high tech layoffs in 7 years. Playing catch up since and very tired. 

We tried not to let the house go, but realized we can't sell either, as we are upside down in it, basically, and must leave. He has recently taken a non-high-tech position with a stable company and are looking forward to getting our lives back.

I need to know how difficult is it to rent/lease after BK? Has anyone been through this? I have tried to ask several REAs, but it seems no one wants to answer my questions?! I am so frustrated and scared for us. 

We have 3 beautiful little girls and I just want things to go smoothly for them. This is so painful!!! Any help, please?


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## Blanca (Jul 25, 2008)

my brother filed bankruptcy and seems to have had no issues. He recently rented a house in a very nice area and didnt seem to have any problem getting in. He said the utility companies can be expensive but if you have a history of paying your utilities on time, you can show that to the company and they might cut your costs. They did for my brother. If not, you might have to take the higher costs of getting those turned on. He also just purchased a new car. The APR is higher, but he said that companies are more willing to sell to you since legally they know you cant file bankruptcy for another seven years. 

My sister on the other hand has not filed bankruptcy but has terrible credit. she had a hard time finding an apartment. she had her car repossessed and had a hard time getting another one. but she did find an apartment and got a car (albeit not a great one) and is doing fine. the utilities were very expensive to get turned on, but she met some people from a church and they helped her pay those fees. so everything works out in the end. just hang on for the rough ride.


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## Damselfish (May 21, 2010)

Thanks for your reply, Blanca. 

I have a handle on this now. I have talked to some caring REs as to what our options are. I am still sick about losing our home we were supposed to raise our family in, but realize we have options moving forward and will save as much as we can to buy another home in 2 years.

For anyone interested, certain private LL will take a chance if
1). you can pay 2-4 mo rent up front + deposit.
2). write a letter explaining your situation
3). have a guarantor
4). excellent references

We already have LLs that will consider us. I realize this does not guarantee we will be approved, however, I am cautiously optimistic.

We will start the approval process first of July. I'll write back and let you know what happens then. Wish us luck! And best to everyone else out there...


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## gtull1 (May 30, 2010)

You may have a lot more luck renting from an individual owner rather than a leasing agency. Often a large down payment of like 3 to 6 months will smooth over any problems.


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## Damselfish (May 21, 2010)

Update! BK is finalized and we were just approved for loan modification on our house! After all the worry...we get to stay in our house afterall. WHEW! What a roller coaster it has been. Hope this helps someone else...


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