How Soon Can I Rent After a Bankruptcy?

Time Period

• Depending on which type of bankruptcy protection you seek, there are often restrictions on spending during your bankruptcy. However, there are no formal restrictions on renting during or after a bankruptcy. As far as the bankruptcy court is concerned, you can take on a new lease at any time that you can find a landlord willing to rent to you.
  
  

Landlord

• It may be hard to find a person who is willing to sign a lease with you, given your financial history. Most landlords run credit checks on prospective tenants, so almost certainly your bankruptcy will be discovered, even if you don't declare it yourself. It's wise to be upfront about your problems and work with the landlord to find a solution. If possible, get a previous landlord to write you a letter of recommendation.
  
  

Deposit

• Some landlords may be willing to rent to you if you have proof of income and you can come up with a large deposit. They may ask for one month's security deposit, plus the first and last months' rent before you move in. You may need a period to save up this money during or after your bankruptcy before you can fulfill this kind of requirement. You should also check your state's laws; some have restrictions on the size of deposit that can be requested.
  
  

Co-signer

• Another possible source of help is to find someone with better credit who would be willing to co-sign the lease with you. This means that if you default on the rent payments, the landlord can pursue your co-signer for the money. This will need to be someone who trusts you and with whom you have a good relationship, perhaps a parent or other relative.