My roommate's bank account got messed up with pending deposits and so our rent payment check bounced... we have the money to pay it (and the late fees) a week late, but the leasers have already left a notice on my door that said pay-in-3-days-or-be-evicted (etc.)... has my credit been hurt by the bounced check since both of our names are on the lease?
2006-11-10 11:53:44 · 12 answers · asked by phimu1223 2 in Business & Finance ➔ Credit
It is unlikely that they reported you if you are only a week late paying.
A smart landlord starts the eviction process immediately, it is both a way of encouraging tenants to pay up to avoid eviction and it allows them to get a non-paying tenant out as soon as possible.
2006-11-10 12:13:18 · answer #1 · answered by Anonymous · 0⤊ 1⤋
It COULD hurt your credit, but I don't think it will, yet.
For your credit rating to be damaged the act must be reported to the credit reporting agencies. Many landlords won't make that report on the first offence. If eviction processes start then there it is a much higher chance that you will have this reported. If you pay the money before the 3 days expire then you will most likely have only hurt your rating with your landlord. If the landlord accepts your explanation that it was your roommate's fault then that is a good sign that they will not report you. They may report them. The bank may report them, but probably not. If there is a pattern of this kind of money mismanagement then I would start to worry. If this is a one-time problem then you are probably safe.
Don't bet on me being right get some proof. People are allowed one free copy of their credit rating from the credit reporting agencies each year. You may be surprised how little is actually in your credit report. If there are any errors or omissions then you can write these reporting agencies to make those corrections. I would wait a month or two and then see order a copy of your credit report from one of the agencies I listed below. (You can uses these same numbers to report credit card fraud.)
Check your credit report for credit cards or charges you don't recognize once a year. Credit reports are available for $8 each from each of the three credit reporting bureaus.
Equifax: 1-800-685-1111
Experian: 1-888-397-3742
TransUnion: 1-800-916-8800
Equifax: 1-800-525-6285 www.equifax.com
P.O. Box 740241, Atlanta, GA 30374-0241
Experian: 1-888-397-3742 www.experian.com
P.O. Box 9532, Allen, Texas 75013
Trans Union: 1-800-680-7289 www.transunion.com
Fraud Victim Assistance Division, P.O. Box 6790, Fullerton, CA 92834-6790
Oh, if you are getting sick of all those credit card applications you get in the mail you can opt out: 1-888-567-888 it lasts for 5 years.
You can opt in at anytime and it won't stop all of the credit card companies making requests, but it will stop a lot of them.
2006-11-10 12:28:26 · answer #2 · answered by Dan S 7 · 0⤊ 0⤋
Yes, it will affect your credit. If you don't make any more late payments it won't affect it much though. You need to read up on laws however because a managment company cannot evict for being a week late. The statement they made was threatening and false. You can be 30 days late before they are allowed to evict you, and even then they must give you reasonable notice. Make sure they don't try to d*ck you like that.
2006-11-10 11:54:55 · answer #3 · answered by Anonymous · 0⤊ 1⤋
well I'm not sure if rental check is the same as a credit check, but it does make you look bad. usually when paying rent, that money is for like the owners mortgage.so say the mortgage is due one week after your rent is due,it kinda mess up the owner too. it kinda goes both ways...
2006-11-10 12:01:36 · answer #4 · answered by rastaj4life 1 · 0⤊ 0⤋
Hard to tell. If your Landlord reported it, then possibly. But if it got paid promptly, then likely not.
It is best to check your credit report annually. Google "free credit report" and it should show you a site to go to.
2006-11-10 11:56:24 · answer #5 · answered by deerslyr_71 3 · 0⤊ 0⤋
Your relationship with your landlord has been hurt. That's it. Just don't use him as a reference.
Only big companies are reporting to credit bureaus, so I wouldn't worry about that.
2006-11-10 11:55:31 · answer #6 · answered by the Boss 7 · 0⤊ 0⤋
It will only hurt your credit if your landlord reports the unpaid rent. If you have caught everything up you shouldn't have anything to worry about.
2006-11-10 15:49:47 · answer #7 · answered by Classy Granny 7 · 0⤊ 0⤋
Rarely. Most landlords don't report to the big three credit reporting agencies.
2006-11-10 12:01:55 · answer #8 · answered by Sir J 7 · 0⤊ 0⤋
Go talk to your apartment management and explain the situation in advance and maybe they will cut you some slack or work with you on this.
2006-11-10 11:55:55 · answer #9 · answered by Anonymous · 0⤊ 0⤋
no, most landlords do not report that kind of stuff
2006-11-10 12:04:17 · answer #10 · answered by Anonymous · 0⤊ 0⤋