I'm going to be breaking my lease in a few months. I've given them the form they gave me to fill out (notice to vacate), and I'm going to pay all the fees associated with breaking the lease. My question is will this affect my credit? Will this reflect badly upon me and my credit for breaking my lease even though i'm doing it the right way (giving proper notice and paying fees)?
2006-09-27 07:50:18 · 8 answers · asked by akwardlykewl 2 in Business & Finance ➔ Renting & Real Estate
Ive all ready discussed all the details of what I owe in terms of fees when I leave.
I will pay all the fees and have set up a payment plan with the office to do so.
I have given them the 30 day notice that is required.
My reason for leaving is I will have graduated by December (month i'm moving out) and my wife if pregnant and wants to go back home to be close with family. I won't have loans and stuff to help pay rent for the remainder of the lease. So i just want to go back home ( mom is giving us a home for the new arrival).
Do you have to have a good reason so they don't report it?
2006-09-27 08:24:58 · update #1
Your credit will be fine. Just make sure you do everything right and make sure you are all paid up whether before you move or after. Just as long as you pay the balance owed then you will be fine.
***You don't need a "good" reason to break a lease. Just tell them that you have to move out and everything will be taken care of by you. It will NOT hurt your credit so quit worrying about it. :)
2006-09-27 08:00:09 · answer #1 · answered by peg 5 · 1⤊ 0⤋
Your doing the right thing.Better than I did I broke my lease and didnt pay my last month.Its on my credit.Ask your leasing office that even though your paying the fee's will they still report it to the credit agency.Hopefully not if you have a good reason for breaking your lease.And your paying everything they require you to pay.Some leasing offices r A**holes and will report it anyway. Just make sure there not gonna and the can tell if it will go on ur credit.If it does it takes 6 months from the day you moved out to hit your credit.So get something before then.
2006-09-27 08:05:54 · answer #2 · answered by Anonymous · 2⤊ 0⤋
No, not at all. Breaking a lease is not like not paying. And the leasing companies (or owners) are not going to report it to the credit bureau one way or another. People have to break lease all the time. Only time your credit will suffer is if you don't pay what's on the contract and end up in collection.
2006-09-27 07:57:24 · answer #3 · answered by spot 5 · 2⤊ 1⤋
No not as long as you pay all of the fines... A little secret though... if your company relocates you, you get to walk away from the lease scott free. Do you have any friends that work for a big company who will type you up a letter on company stationary? They can put their direct line on it in case they call to verify.
2006-09-27 07:59:05 · answer #4 · answered by Mike Hunt 5 · 0⤊ 0⤋
if you pay everything they demand, it will not go on to your credit report.
in some cases you must continue to pay the lease until a new tenant is found.
2006-09-27 08:06:38 · answer #5 · answered by Anonymous · 2⤊ 0⤋
see you later as you do what's requested of you by your cutting-edge landlord, there is not any longer something they could do to damage your credit. in case you provide them the money that they opt to allow you out of your employ, it gained't look undesirable or impact your credit in any respect. although, in case you opt for no longer to provide them what they choose, then definite, they could negatively impact your credit. wish this facilitates!
2016-12-02 04:40:03 · answer #6 · answered by ? 3 · 0⤊ 0⤋
Not only does it look terrible on your credit, you can be sued by your landlord because you have a contractual obligation to pay the amount of your lease in total.
2006-09-27 07:58:58 · answer #7 · answered by Anonymous · 0⤊ 5⤋
Yes It could look bad
2006-09-27 07:52:26 · answer #8 · answered by Brian S 2 · 1⤊ 1⤋