Worrying about a credit check for an apartment?
I'm getting ready to move to chicago and I'm worried about my credit check. I've had a lot of old problems from when I was a dumb kid and a recent problem with ID theft that I couldn't get cleared up (World Financial Network is notorious for screwing people), but in the credit card that I actually opened myself I have been paying at least a little more than the minimum payment on time each month. I'll also be living with my girlfriend, who I'm pretty sure has spotless credit (I don't think she even has a credit card.) Will her good credit offset mine? Will landlords listen to explanations of bad marks on credit reports? Am I destined to be homeless?
You are not destined to be homeless. This situation all depends on the level of competition from other applicants. If someone with a bunch of cash and spotless credit comes along then you would lose out anyway. You need to keep applying for places until one comes along that will work for you and the landlord.
June 20th, 2009 at 9:31 am
Depends on personal landlord or apartment community (ususally corporation owned) which is usually on the a point system. I was in the same boat. My girlfriend much better credit, I had the better work history (i.e. amount of years on the job and annual salary.) And it worked out for us.
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June 20th, 2009 at 10:00 am
You are not destined to be homeless. This situation all depends on the level of competition from other applicants. If someone with a bunch of cash and spotless credit comes along then you would lose out anyway. You need to keep applying for places until one comes along that will work for you and the landlord.
References :
June 20th, 2009 at 10:43 am
Many landlords dont even check credit.
I have known people with dreadful credit get into places with ease. Just be prepared to possibly put a little extra down when you start off.
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June 20th, 2009 at 11:33 am
There are many landlords that are sympathetic and are flexible when it comes to credit. Some will simply do background checks (for evicitions and such).
Stay away from management companies as they tend to be a bit more strict and may require additional security deposit!
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