Bad Credit Question?
Question by msuewill23: Bad credit?
I apparently have REALLY bad credit. My lease is up at my apartment and I am looking to move. I put in an application for an apartment today and was denied because of my credit. I have never had a problem getting an apartment before, I have lived on my own in apt’s for 5 years and never paid rent late, never broken a lease, and never left damages. I make $ 36,000/year and could not get approved for a $ 650/month apt. I have been at my job for 6 years, and I am 24. Is this right? Should I keep looking? I don’t want to keep paying application fees if I am not going to get approved. I live in Houston.
Best answer:
Answer by Mike
Did you pull your credit report to see what is on there?
Did you pay credit cards or other loans late?
You can see your report for free at http://www.annualcreditreport.com
Give your answer to this question below!
Clear you bad credit and see your credit report. Many lenders, banks in particular, deal in any sort of secured loan other than second mortgages. Other institutions deal almost exclusively in secured loans. Finance companies that deal in secured loans can be found in your phone book, newspaper, and increasingly, online.Shop around and compare interest rates on loans and the terms of repayment with several different lenders. You’ll find many internet sites that let you request a loan rate quote from multiple lenders at once.
Once you’ve submitted a request for a loan quote, you’ll be contacted by representatives from several companies and can get a good idea of what each can offer you in terms of interest and other finance charges and fees. Choose the best one for your needs, and apply for the loan. It’s that easy.
Suggestion: You MUST get a copy of your own credit report. How can you possibly know who the enemy is – unless you see the enemy?
From what I read, the enemy is somewhere in your credit report. Get a copy. Read it. Ask questions about the credit report. Identify the enemy. When you write a rebuttal statement about your enemy, you begin to KILL the enemy.
Thank you for asking your question. I enjoyed taking the time to answer your question. You did a great job – not only for your information, but for every other person interested in reading my answer.
I wish you well!
VTY,
Ron B.
As others have suggested you should get a copy of your credit report and review it to look for delinquent accounts. This can include medical bills, car payments, credit cards, etc. When you apply for an apartment show them proof that you have paid your rent on time over the last few years. Also your income is not reflected in your credit score so you should show the management your earnings capacity, your ability to pay rent. Good luck!
I had the same problem in Houston recently. They seem to be doing that now because of everyone that came over form Louisiana. I’ve been with my job for over six years and made over the 3 1/2 times the rent and still had problems getting an apartment. I just kept at the apt. I wanted, telling them to go off of my 7 years of excellent rental history and even offering to pay a months rent in advance or a higher deposit. They finally let me in by going off of my rental history. It seem like now in Houston it is as hard to buy a house as it is to rent an apartment. I would suggest to keep trying what I did for the one you want because they all run credit checks now. I wish you good luck.
When you are denied an apartment due to your credit, you are entitled to a free copy of your credit report. Look it over and see if there are any errors on it. Based on what you stated in your question, it doesn’t sound like there should be any issues with your credit rating. Keep in mind that your credit standing is not JUST based on paying your rent on time, but also all of your other bills as well. Definitely get to the bottom of it, though! Good Luck!
same situation this month. unfortunately, they dont much look if you pay your rent on time. they run a report based on your credit history, and give you some sort of rental score. i have identical situation, and offered to pay rent for several months up front, and was still denied. good luck
go to http://www.annualcreditreport.com and find out what your credit is. (It is free) Ask your past landlords to give you a reference. You can be declined because of poor credit, but a good reference should help you.
You said that you “apparently” have really bad credit. You should look into your scores and credit reports pronto. It is possible that there is incorrect information or that someone has stolen your identity and racked up some late bills. Also make sure that you haven’t had any late credit card payments, cell phone bills, utilities, etc.
well obviously you have done something to lower your credit score. what you need to do is get a credit report and look at it and identify which things made your credit score drop. then find out how much it will cost to do credit repair to get approved. im a loan officer so once you get a credit report, i can translate it for you and tell you what needs to be done. just email me
Sounds like quite the pickle. Do you have any reason to believe that your credit is actually that low? Have you missed bills, failed to pay, got bills sent to collections on you?
If you think your credit should be better, you may have been a victim of identity theft. Pull your credit from http://www.annualcreditreport.com. Its free (but they won’t give you a fico score- you have to pay for that). If there are any accounts on there that you haven’t opened, then you have a problem.
Don’t panic though, it will be worked out.
Umm, either come to terms with the credit by starting to pay back some outstanding issues.
OR talk about the credit situation before you sepnd the application fee. Turn in a letter describing it if you have a good reason to have bad credit….
There is always a complex in every metro area that will take people with bad credit, the question is: do you really want to live there?
If you have never gotten a large loan, such as on a car or a house, you will have bad credit and will never be able to rent an apartment. What you need to do to build credit is to take out a 30 year loan with huge interest rates.