Bankruptcy
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We find you apartments that accept a bankruptcy!
We have a large selection of Second Chance Apartments in the Dallas, Ft Worth and Houston areas that will work with individuals that have a discharged or dismissed bankruptcy.
What is Bankruptcy?
Bankruptcy is a court proceeding in which a judge and court trustee examine the assets and liabilities of individuals and businesses who can’t pay their bills and decide whether to discharge those debts so they are no longer legally required to pay them.
Bankruptcy laws were written to give people whose finances collapsed, a chance to start over. Whether it was bad decision-making or bad luck, lawmakers could see that in a capitalistic economy, consumers and businesses who failed, need a second chance.
Examples of bankruptcy include:
- Discharged
- Dismissed
- Chapter 13
- Open
Under certain circumstances, apartment communities work with discharged or dismissed bankruptcies. Some require that the bankruptcy be discharged or dismissed for a certain number of years and might require higher deposits to qualify.
Apartments rarely work with open bankruptcies because they are concerned the apartment lease will be added to the bankruptcy. Please note it is usually up to the apartment management whether they will accept a tenant that has a bankruptcy.