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BAD CREDIT - How in the World do you get an apartment?

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BAD CREDIT - How in the World do you get an apartment?

Postby palmel4 » Tue Sep 17, 2002 11:29 am

My husband and I have been trying to get an apartment for several months now. Every time we apply for an apartment, we get denied on our credit. We even offered to put two months security down, but the landlord refused.
I've thought of sub-leasing from a friend, but that's no guarentee, since I've heard that even the people that are sub-letting have to have their credit checked.
We've rented from a private owner who didn't need a credit check, but that didn't work out. She didn't give us a lease, and now she's evicting us. I know we can't be the only people in New York City who have bad credit. How do you get an apartment when you get denied because of bad credit?
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Re: BAD CREDIT - How in the World do you get an apartment?

Postby Cranky Tenant » Tue Sep 17, 2002 12:37 pm

Obviously the best soltuion is to fix your credit if you can. Get a credit report and check to see if there are any errors. It's possible your geting hit with someone else's financial woes.

Some landlords will allow you to get a co-signer who will guarantee the rent, if you're unable to meet the credit rating or income requirements.

A lot of RE agents expect tenants to make 42 times the rent. If your income doesn't fit into that formula you may have to rethink exactly how much you can afford.
I'm a cranky tenant NOT a cranky lawyer.
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Re: BAD CREDIT - How in the World do you get an apartment?

Postby palmel4 » Tue Sep 17, 2002 1:12 pm

Been there, done that.
I checked our credit reports, and there aren't any errors on our credit.
And we have been working to repair our
credit, but that takes time, which we don't have. We make enough money to pay rent. One landlord even told me that we make more than enough money for the income requirements, the only reason we were denied the apartment was because of our credit.
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Re: BAD CREDIT - How in the World do you get an apartment?

Postby HAJ77 » Tue Sep 17, 2002 3:30 pm

Besides working to improve your credit, it might be helpful to show that you are improving your credit. Offer to show them that you've paid down debt and ask your creditors if they can provide letters attesting to your improvements. If you've had stable careers, ask the HR department to provide letters stating length of service and income. Beyond that, LLs have the right to refuse people they don't feel can afford to live in their building, even if you can pay the rent they want to be sure you're not stretching to pay other bills.
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Re: BAD CREDIT - How in the World do you get an apartment?

Postby Cranky Tenant » Wed Sep 18, 2002 11:06 am

Probably the last resort would to offer to set up direct payment with your bank. This might have to be coupled with direct deposit of your paycheck.

Obviously it requires some flexibility on the part of the Landlord (or realtor) but if you make a good impression they might be willing to give you a little leeway.
I'm a cranky tenant NOT a cranky lawyer.
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Re: BAD CREDIT - How in the World do you get an apartment?

Postby JulieA » Sun Sep 29, 2002 12:07 pm

To Me Again,

Doesn't it count for ANYTHING that you have been renting an apartment and paying your rent on time for years?!

So I'm 6 months behind on my student loan---BUT I ALWAYS PAY MY RENT---THAT IS WHAT COUNTS.

This whole credit busines has people enslaved. I'm sure it's handy in some cases, but WHAT IF YOU DON'T WANT TO LIVE ON CREDIT? What if I don't want to be enslaved by interest? Sure it can be convenient in many ways---but to be MANDATORY, or you have NO SHELTER, NO JOB EVEN (they do credit checks too)---the BASICS in life. Pretty scary when you think about it. Get credit, OR ELSE!!!

I still want to know---WHY WERE THERE NO CREDIT CHECKS 10 - 15 YEARS AGO when you were applying for an apartment, and CERTAINLY NOT to get a job?

Anyway, back to renting, isn't your past behavior as a tenant the most important thing, after all?
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Re: BAD CREDIT - How in the World do you get an apartment?

Postby palmel4 » Thu Oct 03, 2002 9:51 am

I agree with you. I understand a landlord wants to get an idea of what kind of person they are renting to, but checking your credit makes no sense. If you don't pay your rent it doesn't even show up on your credit report, unless they file a judgement against you. Otherwise, what does a credit report have to do with paying your rent?
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Re: BAD CREDIT - How in the World do you get an apartment?

Postby HAJ77 » Thu Oct 03, 2002 10:18 am

Otherwise, what does a credit report have to do with paying your rent?
Or getting insurance coverage, getting a job, and renting a car. But the fact is credit reports are now used for many purposes that may or may not be fair, however it's not going to change because right or wrong they consider bad credit a sign of irresponsible behavior. In all honesty, the solution is very simple, nobody has ever been turned down for having a good credit report, so pay your bills on time, live within your means, and if you hate high interest rates just pay the bill in full every month.
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Re: BAD CREDIT - How in the World do you get an apartment?

Postby palmel4 » Wed Oct 23, 2002 2:56 pm

Glad to know you've NEVER made a mistake in your life, have SOOO MUCH money you can live within your means and are fortunate enough to get low interest rates. And you are ALWAYS RESPONSIBLE. YOU NEVER MESS UP.
For the rest of us who are just struggling to get by, sometimes you do mess up. Bad credit doesn't always mean you're a irresponsible person. You don't know what financial situation a person may have. Does that mean they have to live out on the streets? Missing just ONE payment can affect if a LL rents to you. And the solution is NOT THAT simple, once you've missed a payment, that stays on your credit report for several years. Something you've done two years ago can be held against you now.
It's wrong to just assume things about people. And that's what you've just done to me, you assume that I don't live within my means, which really annoys me, because it's not the case at all. I have a little child, and if she NEEDS something and I don't have enough money to get it because I HAD TO PAY MY RENT, I'm going to use that credit card to get it for her. I had to post this even if you may never see it, just because your comments still irk me.
palmel4
 
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Location: Bronx, NY

Re: BAD CREDIT - How in the World do you get an apartment?

Postby HAJ77 » Wed Oct 23, 2002 3:26 pm

Let's start with the first problem with your highly flawed argument against me. At no time did I state that I have so much money, live within my means, or have excellent credit. I merely stated that these are a few ways to maintain a positive credit rating, thusly you have no knowledge of my personal situation at all, basing your non-sensical ravings on mere assumption.

Second, if you carefully read my post prior to attacking me, and it's been there for several weeks, you would have noticed that I clearly state that right or wrong, fair or not, this is a fact of modern economics that we all have to live with and in no way voiced my own opinion on the situation. Again, you felt the need to fire off an attack without even knowing my personal beliefs or situation.

Now, I find it entertaining and enlighting that you rant on about making assumptions when that is the entire basis of your unwaranted attack against me. A careful examination of my post will clearly indicate that I was not stating these facts as an attack against you, but merely as facts about economic reality that the once simple credit report has now become an important tool for a variety of transactions from buying a home, insuring a car, to renting an apartment. Perhaps, you already understand the various areas of life that a poor credit rating can impact, but as a benifit to other readers, I thought they would be interested in that information.

In the future, I would suggest that you carefully read and understand people's post prior to launching a baseless and unwaranted attack upon your assumptions of that person.
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Re: BAD CREDIT - How in the World do you get an apartment?

Postby palmel4 » Wed Oct 23, 2002 4:02 pm

<<In the future, I would suggest that you carefully read and understand people's post prior to launching a baseless and unwaranted attack upon your assumptions of that person. >>
Right back at ya!
I'm sorry if you felt attacked, but your assumption that the solution to my problem was simple was in fact, what annoyed me the most. I guess if I guess don't type in caps I won't be accused of "ranting".

The assumption that if person has bad credit they must be living beyond their means is wrong, which is something I've heard several times before. Sometimes people live within their means and still can't make ends meet.

But again, I apologize for affending you, it's just that your statements seemed to come from someone who did not sympathize with my family's situation. The whole thing is very frustrating, people assume that it's just so simple to solve the problem.
If it was so simple, it would have been solved already. I didn't mean to "attack" you.
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