Current Rental Agreement & Bankrupcy

DrivenAmbition

Hi, I am weighing up the pros and cons of becoming BR as I am technically insolvent due to downturn in my business combined with unmanageable debts.

I am concerned about my current rental agreement and the likelyhood my landlord will use it as grounds to evict me (or not renew when it becomes due for renwal). I am renting through a letting agency, I have checked the wording of my rental agreement and can't see anything relating specifically to BR, however they did perform a credit check on me when I took out residence.

Anyone been through similar and what was the outcome? Thanks

So_Sad_Angel

Hi there

If you are not moving & your rent is up to date ( & you can verify this to the OR if asked) then in many cases my understanding is that the OR does`nt contact the landlord.

I can`t see any reason why the LA would do a credit check mid tenancy...you would have to give your permission for them to do so anyway.

Ultimately in the current marketplace landlords are desperate for good tenants so I can`t see why your LL would want to evict you if you are a good payer/tenant....additionally after BR & without a heavy debt burden your affordability/ability to pay will be improved anyway.

Hope that helps,

Angiex

DrivenAmbition

Thank you that helps a lot, I am still quite naive to the process and read on the CCCS website that the OR will notify your landlord, which made me slightly concerned. I am up to date with rent and been quite a long standing tenant.

My current agreement is due for renewal in Feb, I'm just wondering if I sign for another year now so that I can secure the tenancy until I am discharged.

confused76

i told my landlady and she said she wasn't interested as long as i kept up to date with the rent. just check your rental agreement in case there is something in there about br - if so i'd tell him/her as this would void your tenancy agreement. even in this case i would imagine they would be fine as it is hard to come by good tenants and you're up to date....i also had my or interview last week and she didn't mention contacting my landlady?

edit - sorry i see above it doesn't say anything in your contract in which case i wouldn't worry

nervousmother

As long as your up to date with your rent you should be fine, It is common for OR's to inform landlords though so you will be better off telling them first, by being upfront with them it will remove any worry or concerns they may have.

dojoman

We told ours that we had filed for BR, he said as long as the rent is paid he is not bothered.

brighter_side_of_life

Hi there,

I was worried to about my rented house. I have been living here for 3 years, up to date with my rent etc etc.

There was a BR clause in the agreement (letting agent) saying they could terminate my tenancy if made BR.

I bit the bullet and phoned my landlady directly. Well actually I emailed her! I was SO nervous, I love living here and I am so happy, so are my 2 girls (the divorce and bankruptcy was traumatic enough without being told to leave my little rented house!) I told her all this in my letter...

She was SO lovely. She was quite happy for me to stay. I have heard this so many times on this board - I wish you the same good news.

It was such a relief to tell her. Better than have it hanging over my head waiting for the contract renewal and possible credit checks.

This year, she even asked if I would be interested in dropping the agent by letting directly from her (with a contract etc). So I have done.

I suppose if i ever have to move on I face the same dilemma. But now I am not so scared. I, like you and lots of other good people on here, find ourselves in this situation through bad luck and change of circumstance that is no fault of our own.

We mustnt be ashamed or embarrassed. This is very much a sad fact of life for lots of us and more to come considering the current climate. I think a lot of Landlords recognise this and accept BR with good payment history.

We are lucky you know, we are now debt free and can look forward and upward. I often think and pray for all those people out there who at this moment in time dont know which way to turn. I was once like that... I hope they too find a way out.

thanks everyone, for all your help and support to date..... xxx

DrivenAmbition

Great advice if I decide to go down the BR route I will contact the owner directly and explain the situation to him.

In_a_Mess_3

We phoned our LL and told him, he wasn't bothered at all. Just asked to be kept up to date, we haven't bothered with the letting agents as we deal with the LL direct.