How much will one bad rating effect my score?

Question

Recently, I got in to a dispute with an ex-landlord, who wanted to charge me a ludicrous fee after I moved out. I am refusing to pay and he is threatening to report me to creditors, who will hurt my credit.
I want to know how much it will hurt my credit if a negative goes on the report. I am a 20 year old college student who doesnt currently work but I have a job beginning in September 2007. I have student loans and 3 credit cards, all in good standing and I've never had a late payment. I checked my credit score about 2 years ago and it was about 715. I'm assuming it's still in that area. Can someone estimate how much I will be hurt by this negative on my credit?

Thanks so much.

The charge is $160 for vacuuming the carpet (the room was only about 200 sq ft.) I moved out 1 week before the end of my lease, with the understanding(it was written on a paper that I should of made a copy of) that an inspection would be done and I would have until the end of my lease to fix any problems. Instead, the landlord went ahead and cleaned the room and sent me the bill without ever telling me that he had a problem with the way the room was left. The room really wasn't that dirty, I think he just sent me the bill because he thought I would be a pushover and just pay it.

Answer 1

As stated in a previous answer, it probably will not affect your score too much.

However, if your landlord decides to take this route, you are allowed to dispute it. When you dispute it, provide evidence that you paid your rent in full for the term of the lease and evidence that you have satisfied all financial obligations along with the dispute. Your landlord then has 14 days to answer the dispute.

If he does not answer, it will be removed from your credit. If he answers and it remains on your credit, you are allowed an explanation statement on your credit report. Use it to dispute his claims.

Answer 2

If the fee he/she is charging is because you broke your lease, then you will have a hard time getting another apartment with that on your credit record. Assuming you will be wanting to rent another apartment; other apartment owners usually will not rent to someone with a broken lease on their record. You could work out something to pay them off a small amount at a time if they will agree not to add it to your record.

That said, this has happened to me before. You see, I was given permission by the landlord to break my lease because we had lived their several years and were getting a house. She said it wouldn't be a problem to break the lease but I did not get it in writing. In the meantime, the apartment office changed ownership and the landlord I had made the agreement with did not make note of our agreement in my record and a new office manager was hired. I was threatened it would be placed on my credit record. I did not pay it, but checked my credit for several years afterward and they had never added anything on my record. So it ended up they were just threatening us to get us to pay and never had intention to turn it in. I tell you all this to say that many times it is just a threat to see if you will break and go ahead and pay them. It depends on how big the company is that owns the apartments. If they are big enough, they may follow through and you may not want that on your record, not just for the credit score, but because you will want to rent at other nice complexes in the future.

I hope this helps a little. Take care. :-)

Answer 3

You didn't say what the fee is supposed to be for. If it is to cover damages to the apartment or for breaking a lease, you may not have much choice about payment.
In general Deirdre J is correct. If you dispute an entry on your credit report and it is not removed, you have the right to attach a statement to the report which must be forwarded to anyone who has recently viewed your report. I have forgotten what time qualifies as recent.

Answer 4

Probably 10 points, not much
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