This is a valid concern,
a chapter 13 is a payment plan bankruptcy, what may have happened is that they filed it to stop or prolong a foreclosure, you may want to ask them about the facts of the bankruptcy,
what you may want to do is have them provide another guarantor for the lease,
this way you can have another party to sue,
also be aware the chapter 13 cases if dismissed, may have been filed to stop a foreclosure, and is not the same as a chapter 7 bankruptcy,
which is when the debtors discharge all there debts,
a chapter 13 is an agreement to pay creditors over a period of time,
You should also consider asking for bank statements, tax returns and
6 months paystubs,
Also, consider asking for an accountants letter showing the income
for the business of the self employed
Good luck, if you have any further questions please do not hesitate to ask.
I would also consider calling the employers to see how long they were employed,
if they have been employed for one year or longer with that salary,
you can have faith they will be continued to be employed, and you can garnish wages if they fail to pay rent
If you have any further questions please do not hesitate to ask.
They are moving to the area becuase his wife is relocating for her new job...she started there just recently (provided 1 paystub)...not sure there a lot of history there...
then contact her previous employer,
and ask about employment history and salary,
Yup, looks like this is going to require a lot of digging. Will do.
you should ask them to provide two year tax returns that will show you a good history,
Other than income verification/history...is there anything I can request to avoid getting pulled into a bankruptcy (since their track record isn't great)? I just envision signing a lease, they stop payments and the lease payments they miss end up getting paid cents on the dollar in court...
another guarantor is best
that is the best protection
Thanks. I will look into that and make a request.
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