The North Carolina Bankruptcy Information Blog

The recent bankruptcy of Capmark Financial Group, Inc., one of our country’s largest commercial real estate lenders, may just introduce the rest of the country to the problem Washington, the real estate industry, Wall Street and all other type of financial professional has nicknamed, “the other shoe.”

For a number of months, owners of commercial real estate have been scrambling to prepare for that “shoe” to drop. That is, in only a matter of months, office, industrial and multi-family (apartment) property mortgages are going to come due. And just like in the consumer banking world, the credit isn’t there to keep landlords afloat.…

As we’ve discussed here several times, there is a very good chance you can keep your home when filing bankruptcy. However, those of you who rent may find reason to worry about that ubiquitous “credit check” that shows up on every new rental application.

Whether a faceless, multi-billion dollar property management company or a private duplex owner down the street, landlords need to know they can collect rent. It’s normal to be nervous about the process. But just like all other sorts of transactions and business relationships, your best first step is to be open about your financial history.

When seeking an apartment after bankruptcy, the smoothest route may be to seek out a private landlord.…

Despite the fact that credit reports are widely acknowledged to contain inaccuracies― for example, wrongly listed accounts, computer errors showing delinquencies where there were none, or discharged debts still showing up after bankruptcy―more and more of our interactions are touched by the huge industry that is credit reporting. Virtually every kind of loan will hinge on the information in your report, and even landlords will now require you to sign your consent to have your credit history checked along with the more standard criminal background checks.

If you are a renter and have declared bankruptcy, or are thinking about it, you may be concerned about how a bankruptcy on your record will affect your ability to find a new rental situation, or even to keep your current one.…