As a one-time issue in a good credit report, it may not be an issue. However, the reason the landlord checks credit is to assure that you will be likely to pay rent on time. It costs a lot of time and energy to follow up on non-paying tenants. I would also guess that the rental market you are looking in is going to matter in that the person with better credit will win that one open apartment.
Yes, it could be a problem and although I shouldn't say this, if the subject comes up have a good story to tell them. Usually landlords don't do a credit check on you and the worst that can really happen is they check at the last residence you live at. Here's hoping you were a good tenant.
It's not likely, as the previous poster stated. As long as you can submit the required monies, such as a security deposit you shouldn't have problem.
A one time example of a "bad debt" is OK but not 5 pages of them. The reality is that numbers give a great deal of info about a person's thus far life.
It differs from apartment complex to apartment complex. But apartment complexes should do a credit check to make sure that they will be getting their money from their tenants.
No you cannot remove a repossession off your credit report if your cosigner has a judgement on the repossession.
Yes, there is no difference. A repossession is a repossession.
It is difficult to get an apartment with no credit, especially these days since earning more dollars does not come that easy. There are alternative ways of getting good credit that you can utilize. See the related link.
A repossession will significantly lower your credit score, regardless of the balance. It will take around 7 years before the repossession is removed from the credit report.
A repossession is a serious negative and will drop your scores.
neither looks good on your credit.
It won't help much unless you can sweet-talk the lender and convince him to remove the repossession from the credit report. Otherwise, the repossession stays on the record and the only 'improvement' to your credit rating would be the lack of an accompanying past due status.
You present proof that the repossession never occured. You can dispute it with the credit reporting agency.
A repossession is a repossession, no matter if it is voluntary or not. Your credit will be ruined for 7 years.
The repossession stays on your credit report for 7 years.
Yes, but perhaps not as adversely as an involuntary repossession.
It depends on how your father's death, the repossession, and the cosigners credit are corelated.
Any repossession negatively affects your credit rating. Negatively affected credit ratings will affect your ability to obtain loans, typically in a negative way.
A repossession on your credit is NOT GOOD. Avoid it if there's anyway possible. You say the car is SOLELY in your name?? GO GET IT and sell it.
i lease apartment in florida and pay up. in colorado i can get apartment 570 credit score
Yes, it's one of the worst things that you can do to your credit.
The effect on your credit will depend on how the lender chooses to report it to the credit bureau. Sometimes a lender will be willing to report it 'paid as agreed' or 'settled' entry on the credit report rather than an actual repossession. If it is reported as an actual repossession or foreclosure it will be on your credit for seven years and negatively effect your rating.
Yes, an apartment complex can refuse to rent an apartment to you if you have bad credit. A bankruptcy alone will not stop you from being approved or disapproved from an apartment, they will consider your overall credit score and credit history.
It hurts it very badly.
The fact that you have a repossession on your credit report is not a determining factor of whether your can file for bankruptcy. Generally in bankruptcy you can remove the debts from the repossession of your vehicle.
i need to get a repossession off my credit report
Any repossession will negatively impact your credit. Organizations using the credit report do not differentiate between voluntary and non-voluntary. Rather, the organizations see that you were not responsible with credit and what you purchasd needed to be taken away. Generically, a repossession is considered the same as a chargeoff or writeoff, so the impact on the credit score may be anywhere from 50 to 200 points, depending on one's personal credit situation.