Judgement-Rent

[tiredofdebt1]

Hey Guys.....I have a question. As you all know i meet w/ my bankruptcy lawyer on Tuesday at 2pm....it was supposed to be Friday but she rescheduled..this will be my 1st meeting w/ a bankruptcy lawyer.....anyways..I am living in an apt with my baby and I....first of all....it is sooooo far away from my job and the sitter.....and i am paying $1000 a month..plus water and othe utilities...i was on craigslist and i found a couple of 3br 2bth homes for rent for $875-900 a month...and these homes are very close to the sitter and my job...and i will be saving on gas...i would have to give my rental office a 60 day notice...and of course i will be responsible for the rent for 2 months....and anything afterwards if they cant find anyone to rent.....do you think i should just wait until my lease its up which is in March....and continue having to fill my tank up ever 2 days....or move now...and save on gas...and time....and include the money owed to the rental office in the bankruptcy which would be listed as a judgment.

[HHM]

I guess my first question is, if it is just you and a baby, why do you need 3br-2ba house?

In any event...the issue with the lease is something you will need to discuss with you attorney. Also, when it come to renting, you are in somewhat of a catch 22...you will more than likely need your current landlord to be a reference for your future landlord. You would want to secure a new place before breaking your lease, but at the same time, in the process of securing the new lease, your current landlord will probably get a "reference" check call from your potential new landlord.

From a purely financial and practical view point, you should secure a new place (one even MORE affordable than the one you are considering) and break your current lease. And yes, you can discharge any balance owed to the existing landlord. But, if, for the foreseeable future you will be renting, and you break the lease, it may be very difficult for you to secure a future rental.

[freshstart06]

I can see her point. The 3br home is much cheaper then the apt. I would go for the house. YOu don't have to explain anything.. if it makes sense to you then do it. We had to move right after we filed and included it in BK, glad it happened because we saved so much more money. Good luck to you. If you are lucky like we were, most private landlords do not even do credit check. I love private landlords oppose to managements. You will be fine, a lot of people did this. Bk is a time to regroup and get your finances together and if this saves you money then it is a good, your current landlord can not sue you because you are going to file chpt 7, just make sure you qualify before you do anything.

[tiredofdebt1]

First of all...i will not be renting anymore apartments..it is best for me to rent a home..and the homes that are for rent are all 3 br 2 bth or 3br 1 bth......and are much lower than what i am paying now for a 2br and closer to my job....a robber kicked in my door trying to get in my home while i was pregnant..which caused me to make a quick decision and move all the way where i live now because of very low crime rate....as far as a rental reference...i really dont need to put the place i live at now...i have someone else that will be my reference......i am just too far out here right now...and im afraid that if i wait until the bk gets on my record i will not be able to rent either...house nor apt

[tiredofdebt1]

Thanks Freshstart....i was thinking the same thing....it will save me more money if i move in to the home....i will not have to worry about $20 worth of gas every other day either.

[freshstart06]

I understand it is a stressful time for you so remember one thing, you never have to explain something that makes sense to you. There are a lot of members on this board that will help you get throught this difficult time of BK but you have to do what is best for you always rather others agree or not. I personally hate apts and I love my big homes. If no one agress or question it, I don't know what to say, it is what I like and the best decision for me.

Good luck to you and I hope all goes well.

[HHM]

Obviously, if the house is an overall better deal, then rent it. My point wasn't that you should stay in your current place, but whether it was a better deal to rent a house? Where I live, the situation is very similar, it is generally a better value to rent a house than it is to rent an apartment.

My general point would is always about making "sound" financial decisions. Almost without doubt, the reason people file BK is that they don't know how to make financial decisions. And that complaint is not a personal attack on anyone, its simply the reality in our society that we do not teach people how to handle money.

If you can get the new place and don't need your current place as a reference (although most lease applications ask for your last 2 or 3 places or residence), you will be able to discharge any remaining lease obligation to your current landlord in BK.