2006-12-05 12:14:46 · 3 answers · asked by christhianesq 1 in Business & Finance ➔ Credit
Did you pay everything owed on the lease agreement? If you paid everything, then by breaking a lease, there is no negative effect. However, if you broke the lease and didn't pay the lease-break fee or rent amounts according to the lease contract, then maybe. if the amount is significant, i would anticipate them placing a collection account on your credit history. i would attempt to make good on it if possible (maybe negotiating a settlement amount) to prevent negative impact on your credit. remember your credit score determines the rates you pay and will pay on all thing purchased through credit. $500 now is a small price to pay to save you 1% on a $100,000 mortgage loan over 30 years!! (by the way, thats a difference of $23,000 over 30 years).
2006-12-05 17:33:17 · answer #1 · answered by abcdgoodall 4 · 0⤊ 0⤋
I don't believe breaking a lease is something that is even reported to a credit bureau.
2006-12-06 16:07:38 · answer #2 · answered by luciousgreeneyedlady 5 · 0⤊ 0⤋
Credit Reports deal primarily with amounts owed and paid. Any time anyone thinks you owe them money, they can report it to a credit bureau, and it will show up on your credit report.
So if they will probably report it and it will show up on our credit if you owe (or if they think you owe) money such as: past due rent, re-letting fees, cleaning or other damages.
If they agree that you do not owe them any money, then they wouldn't have anything to report.
2006-12-05 12:26:41 · answer #3 · answered by bmlb98 2 · 0⤊ 0⤋