I am aware that she had a judgment for a credit card indebtedness that had in fact been satisfied quite some time before, and she even submitted satisfaction letter along with application. but, still they rejected. What can she do now?
2007-07-25 09:08:59 · 6 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I do not want to get on a soap box... mainly because no one cares and although American people ***** and complain about everything, no one does anything to change it... but in the world today, CREDIT is everything. Auto insurance rates, renting an apartment, buying a car, a home, credit card rates... everything is credit score driven. My husband has 14 credit cards, was late on one and suddenly every other card rates jumped from an average of 8.5% to 29.9%, credit limits were reduced, his score dropped 30 points... suddenly everything got much more expensive. Some apartment complexs won't even rent to you if you had a BK in the last 7 years... although when buying a house, a BK after 2-4 years is okay.
Now if your question is.... what can your friend do to show the collection paid on her credit report then the answer is simple. There is a form that you can complete and send to ALL three repositories (the three main offices where credit reporting originates from) and send the form along with the proof that the debt has been satisified. It is reviewed and the correction is made to the data. However, this takes a couple of months.
If your question is what does your friend do now to rent an apartment? Maybe get a co-signer. find an aprtment complex that has more lienent guidelines, purchase a home since the market is perfect for buyers with still low interest rates and the decline in home sales....
Sorry I was not more help.
2007-08-01 19:44:03 · answer #1 · answered by Ms Betty 4 · 0⤊ 0⤋
Consumers are entitled to one free credit report from each of the 3 major bureaus per year. Your friend needs to correct the source of the problem by sending the satisfaction into the bureaus and have they account properly updated. As long as it appears to be outstanding it will adversely effect the credit score which drives the guidelines of most institutions. If there was a good reason for why it happened then your friend should add a consumer statement also. Could it be that there was other adverse credit that may have influenced the rejection? The credit report will give more information on that. Hope it helps!
2007-07-25 16:28:44 · answer #2 · answered by Etta P 4 · 1⤊ 0⤋
She can start looking for a different apartment/house to rent. Landlords are not required to accommodate anyone's particular credit record.
2007-07-25 18:52:53 · answer #3 · answered by acermill 7 · 0⤊ 0⤋
Look elsewhere. That landloard doesn't want to take a chance on someone with a CC judgement; the next one might.
Satisfied doesn't fix the underlying flaw.
2007-07-25 16:12:16 · answer #4 · answered by wizjp 7 · 2⤊ 0⤋
WinZip has the right answer...move on and look elsewhere.
different property management firms and different landlords have different standards.
tell your friend before even applying...be up front with the landlord or property management firm...they should let you know right then if she is wasting her time.
good luck :)
2007-07-25 16:16:14 · answer #5 · answered by Blue October 6 · 0⤊ 0⤋
sorry -back to the want ads - land loads have the final say on who they rent to when it come to financial maters.
2007-08-02 15:48:37 · answer #6 · answered by mister ed 7 · 0⤊ 0⤋