A Brief History of Finances

Bankruptcy and Home Rentals: A Guide

Our credit scores are analyzed in almost situation which will involve finances including when we are seeking a loan approval. Our credit scores are also analyzed by potential business partners as well potential employers when we are seeking employment or interested in investing in different businesses. It is, therefore, the wish of every person to maintain a healthy credit score or a good financial reputation. In the recent times landlord are also keen on digging on one’s credit score where they avoid people who have poor credit score as they are considered a risk. When one is having a poor credit score it does not mean they are completely locked out of renting a house but the following ideas are useful when one is out to seek a house to rent.

When seeking a house or an apartment during a period when they have poor credit score they can enlist a friend or a family member. Enlisting a family member or a friend who has a stronger a credit score they can help you increase the chances of one securing a house that requires a comprehensive credit check done by the landlord. When a friend or family member are enlisted, and they cosign the lease agreement they accept liability where they are to pay any unpaid rent or damages on behalf of one.

It is also advisable that one is straightforward with the landlord from the start where you can provide information about your credit situations thus building trust. Whether you are meeting the landlord in person or you are applying through a rental application, it is advisable that you mention your financial status and in doing so one needs to be honest. Many people have found themselves in bankruptcy due to situations which they couldn’t control such as sudden medical condition or illness or job loss. One is better placed if they inform the landlord of their financial situation rather than letting them find it on their own.

One way of convincing a landlord is by promising to pay up front where one may even offer to pay their rent one month in advance. Another option is where one offers a bigger security deposit even when they have poor credit scores. Another option will involve sharing the house with an individual with better credit scores. One will not therefore need to sign the lease contract as the other tenant signs it.

To secure a house one needs to convince the landlord where they can offer to sign longer contracts or bigger deposit amounts, and also they can attach a referral from the previous landlord.

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