I have paid all my bills this month but 3 items went to collections. They will remain on my credit for 6 more years. I will start searching for apartments in 3 more months. What are my chances of getting an apartment? I don't have anyone I know that will cosign for me. What should I do? I can't stay at the place I am living either. Should I find a sublet?
2007-10-25 00:06:29 · 5 answers · asked by Anonymous in Business & Finance ➔ Credit
All of my bills are paid off by the way. I don't owe anything.
2007-10-25 00:18:13 · update #1
First of all, your collections will not come off of your credit report because you ask that they be removed. If you paid them off, they will still show up on your credit report as being paid off. They do not go off just because you ask them to take them off. You might be able to file a dispute and claim that you never owed that money. The creditor has 30 days to show the credit bureau that you did. Since you already paid off the debt, the collection agency has nothing to gain by investigating and filing back to the credit bureau, so often times they will ignore the dispute and you win by default. The only problem with doing this is that it is illegal, but many people do it any and get away with it.
As far as how this will effect your dilema, it probably will not. If the only thing on your credit are these collections that have been paid off for over a year, then you probably will not have any problems. I know one couple who had a foreclosure move into an apartment. They had to pay a higher security deposit and they had to pre-pay last month's rent before moving in. In your case, you might have to pay a higher security deposit, but I doubt it. A potential landlord may call your old landlord and ask if you were a good tenant. If your old one says you paid on time and that they would want to rent to you again, that carries more weight than a few collections.
As long as you move into a reasonable place that you can afford, then you will find a landlord that would want you as a tenant.
2007-10-25 02:50:46 · answer #1 · answered by j-man 4 · 0⤊ 0⤋
3 collections? oh my you must be a BAD person to rent to... that's silly. collections don't mean you won't pay your rent. anyway most apartment complexes go by your score. and having some collections on your report doesn't mean you have a low score, especially if you paid them. and all you have to do is write a letter to the credit agencies and show them the proof that the dept was paid and they should remove it. if not then yea after 7 years it does come off. now if it dont come off then you write them and by law they must remove it.
oh and you can also find plenty of apartments that don't even do credit checks. best bet is to contact a apartment locater and they can narrow down the search for you.
2007-10-25 01:33:34 · answer #2 · answered by neverlie 3 · 0⤊ 0⤋
Its good that all your bills are paid off - that will help your credit record start to rebuild, but its a slow process. You may have better luck looking for a private landlord rather than a large commercial apartment complex.
2007-10-25 00:46:49 · answer #3 · answered by Anonymous · 0⤊ 0⤋
You might consider investigating living premises owned by individuals rather than large complexes. Such folks may not be as critical with credit checks, or may not make the checks at all. At any rate, be upfront with any such potential landlord, revealing what happened to you and why. Be prepared to explain how you will avoid such collections in the future, with evidence that you are capable of paying the rents.
2007-10-25 00:16:00 · answer #4 · answered by acermill 7 · 0⤊ 0⤋
they wont remain unless you've paid them off. if you have then request the credit agencies to take them off. they will research them, and find out you've paid them and take them off your credit report. and they will remain forever unless you pay them. it is false that after 7 years if you dont pay, it'll go away.
2007-10-25 00:14:23 · answer #5 · answered by Anonymous · 0⤊ 3⤋