Renting

Anon25

Good evening,
I'm going for bankruptcy but how do I rent a property? Do they all do credit checks?

Gorgeous_George

Hi

All agencies should do a credit check. Most landlords renting privately really ought to do a check as it isn't very expensive and could save them a whole load of trouble.

I wouldn't let a property to a bankrupt. Have you tried the local authority/housing association?

GG

flappy_mcwarbucks

i think you're gonna be in a bit of a pickle.

Most (if not all) landlords do credit checks, and i'm pretty sure that they will not want to rent to a bankrupt.

You may have to downsize to a bedsit. If you can find one that a) will accept a bankrupt person and/or b) don't do credit checks.

The housing association possibly may not be able to help you. The council also won't give you a look-in if you don't have a family in toe. (depends on your part of the country)

Piggywig75

I went through an IVA and it is still a problem a few years down the line. However if you can prove reasonable earnings from a job that you have been in for 12 months or more, some landlords will maybe agree a short tenancy initially.
It is difficult though, and sadly people go through these financial problems for all sorts of reasons.
Good luck x

Anon25

Thanks for the replys.
I work all the hours god sends and earn £4000 a month on average. I have a few months rent in cash to pay. And nobody will rent a house me. I have a wife and 2 children as well so a bedsit is not an option.

Anon25

Georgeos George, you say you will not rent to a bankrupt. Would you mind telling me your reasons for this? Obviously everybodies circumstances are different but let me just explain mine. I have never rented a property before and have owned my property for 30 years.

Werdnal

Have you approached your local authority and housing associations? If you have a family and problems renting due to your financial history, you will gain points on their allocation system and this should work in your favour.

My friend's partner was a bankrupt and they had great difficulties renting privately. Most agents run a mile before you start - unless you can come up with a guarantor who will cover the rent if anything went wrong. Some private LLs will consider you, but again the savvy will ask for guarantor too.

My friend and her partner and 2 girls were put into temporary emergency accommodation for 9 weeks, but were eventually allocated a 3 bed housing association property. The only drawback is you might not be able to specify the exact locations you want, but I am afraid beggars cannot be choosers. I would get yourself on their lists asap, but keep looking for private rentals in the meantime.

Good luck!

G_M

Anon25 wrote: »

Georgeos George, you say you will not rent to a bankrupt. Would you mind telling me your reasons for this? Obviously everybodies circumstances are different but let me just explain mine. I have never rented a property before and have owned my property for 30 years.

Bankrupcy can arise from a variety of reasons, however
a) it can be an indication of an inability to manage money
b) it indicates a willingness to walk away from debt/financial obligations
c) it is can indicate current/future financial problems

for these reasons, given a choice between a bankrupt and a non bankrupt tenant, most LLs will choose the latter and be wary of the former.

Anon25

Everybody is entitled to there own opinions. Thankyou.

Anon25

If there was a guarantor in place would that change anything? Could I still rent privately?

Werdnal

Anon25 wrote: »

If there was a guarantor in place would that change anything? Could I still rent privately?

A guarantor would definately help your position, but you need to make sure they are aware of the responsibility they are taking on. They will also need to be credit checked, and usually have to fulfil certain criteria, for instance, being a homeowner themselves, having an acceptable level of annual income etc. They have to prove to the agent/LL that they have sufficient income/assets to meet your rent requirements as well as their own financial commitments!