Wanted Advice: Renting with Bad Credit!?
Question: Can anyone please help me out? I have bad credit. Depts from 5 years ago. >I am slowly paying them off. BUT because they look so bad, each and every >place I have been to to try and rent a place, once they check my credit, >they turn me down!
>How can I get around this? How can I find places to rent where they do not >check credit? Someday, probably 5 years from now, I will have my bills paid >off, but not now.
Answer: Consider a roommate or paying a double deposit or rent in advance. The next thing you should do is get copies of your credit report to assess the damage to your credit history. Since you have already been denied, under the Fair Credit Reporting Act, you are permitted to get a copy of your credit reports for free within 60 days of denial of credit. Your prospective creditor, in this case a property management company, must supply you with a letter stating that you have been denied for a particular reason and provide you with the name and address of the credit reporting agency that supplied the credit report.
Another thing to remember is that you need to get your creditors to upgrade your credit rating to a “1″. Although they tend to tell that they won’t, you can force them. Alot of people make arrangements to pay for their outstanding debts. Unfortunately, many forget about having their credit rating upgraded. A convenient threat to any credit is Chapter 7 bankruptcy. It gets them every time.
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Filed under: Bad Credit Loan
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