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iVillage Member
Registered: 05-26-2004
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Wed, 02-22-2012 - 9:58am

Hi there..

It's been a while since I posted in this group but I wanted to drop in and say "HI" and ask a question.

My heart and deepest condolences go out to MaryAnn on the loss of Raymond.

Community Leader
Registered: 07-26-1999
Mon, 02-27-2012 - 2:57pm
Kelly, also check with your BK attorney about options. A lot of times when I was doing BK work, we had a list of companies that we knew had worked well with BK clients in helping them find apartments, what financing agencies and car dealerships were best during and right out of BK, which ones to avoid, etc. So if you attorney has been doing it for a while, they should have a decent idea of the area and who may be a good lead to call.
Photobucket
Community Leader
Registered: 08-25-2006
Fri, 02-24-2012 - 5:37pm
My BK was chapter 7 many years ago. I do recall that it was easier to get an apartment AFTER the BK was discharged and showed up as such on your credit report. Much harder in the middle of it all.

And like Arryl said, don't be surprised if utility companies want a deposit. Hopefully not, but it is possible.

One thing my DS struggled with was although he was honest with landlords that he had no credit, GF had bad credit, and a poor referal from last landlord, they would still take their application fee, then deny them. They both worked full time and could more than afford the rent. So it was very frustrating, and expensive, as each application was $35 for each of them. So $70 a pop.

He finally found a place through word of mouth from a couple that just followed their gut, liked my DS and his GF and rented to them.

Good luck with everything. If you can't afford the house it is all just as well. Hang in there. I have been D twice and even when it is the right thing to do, it is hard.

(((hugs)))
Serenity
iVillage Member
Registered: 11-17-2007
Fri, 02-24-2012 - 2:12pm

Thanks for thinking of me. It looks like we are both in a pickle It is a shame that we don't live closer I am sitting with a house with rooms empty and you are losing at some time your home. I have been on the phone and net all morning trying to figure out what to do and where to go. It is a mess I feel like I just got a divorce to like you at times. Husband is gone in both our lives.

Hope you have better luck them me.

If you want to talk give me a call 18174797496

Mary Ann

Community Leader
Registered: 07-26-1999
Wed, 02-22-2012 - 3:13pm
Kelly, it technically wouldn't be a foreclosure inside of the bankruptcy if you give the house back. The trustee will eventually release the house as an asset when the BK discharge is done and then it is up to the mortgage company to either lists nd sell it or sell it at auction, whatever they decide to do. They could evict you right away, they could let you stay in the house until it goes up for auction or for sale, and that would have to be a conversation between your BK attorney and the mortgage company. The best course of action if you can't afford it and know you are going to give it back is to stop paying on the mortgage, save up as mich of the cash as you can and then begin looking for an independent landlord, not An apartment complex that runs credit checks, be completely up front with the landlord or the house, duplex, whatever you want to rent and let them know your situation. You normally will see individuals renting putting less stringent guidelines on who they are willing to rent to. It may take a bigger deposit up front, which is where the advice is to stock up as much cash as you can. You may also find, depending on the state you are in, for utilities, if your credit is shot, that they may require a larger deposit to turn on utilities also, SOS just think about that also. Hugs to you during this difficult time!
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iVillage Member
Registered: 10-01-2008
Wed, 02-22-2012 - 2:31pm
Sorry I cannot answer that question. We filed chapter 13 and we kept the house and are paying for it directly outside of the BK payment plan. If someone checks your check, it might make it more difficult to rent. I'm really not sure on that answer. Good luck on all you life changes! Hope the kids adjust and do OK thru all this.

Norma


"Patience is the best remedy for every trouble"- Plautus


iVillage Member
Registered: 08-24-2007
Wed, 02-22-2012 - 1:18pm
Hi kmotto,
So sorry to hear of your pending divorce and bankruptcy. Thank goodness you have counselors because divorce is hard ... but I'm here to tell you that you do recover and, if you're like me and Karen, life is so much better once you get over those initial challenges.

I live in Canad, so I'm not sure how relevant this is, but I would like to echo what Marie said about renting. I have two friends who declared bankruptcy and then had to find apartments to rent. Neither experienced difficulties. Landlords are fairly understanding about the current economy.

Kate


empty purse

iVillage Member
Registered: 12-31-2010
Wed, 02-22-2012 - 11:07am
Kmotto -
Gosh the board is full of not so great news lately, sorry to hear about all that is happening to you.
Our best bankruptcy voice on the forum is Norma. She is still paying back her debts on a managed plan and she can tell you more from her experiences.
As far as foreclosures and renting, well with as many foreclosures as there have been in the past 4 years, I am sure landlords are a bit more foregiving than they might have been. They do understand people got in trouble due to this economy and if you have a steady job and income, that will really help.
I know that the debt you incur 6 months before filing bankruptcy could still be on your records in some states, so watch when you file. This is so you don't go out and buy a bunch of stuff then file.
One thing you could do is to look for a home with a senior who needs some companionship. Rent could be a lot cheaper and someone like our MaryAnn could get the help they need.
Bankruptcy is a long and hard road, just ask Norma, who is down to about 105 weeks left to go now. The court takes most of her pay for her bills, leaving little to live off of. It is really hard to deal with life's emergencies when they come up if there is no more money to get.
So if you file and have housing costs, then can go live with a senior for less rent, that could help you in the long run.

Divorce is hard, on yourself and on kids. But there is life afterward if you take good care of yourself!

Huggs, we need more of those around here,

Marie
#Marie