Bad Credit

BrokenLease.com not only offers people the ability to easily find a suitable place to rent whether an apartment, town home, condominium, house or other rental property but also to provide valuable information and resources to renters. When renting any property from a private landlord or management company, it means your credit history and rental history will be a huge factor in the decision of whether or not you will be approved for the apartment or other rental property you applied for. Potential landlords will pull your credit report to review your credit history to see if the report shows good credit or bad credit. For those individuals who have good credit, more than likely will be approved for the apartment or rental property they want while those who have bad credit, may have a hard time to get approved for their chosen apartment.

To potential landlords, credit score and credit history is important when making a decision to rent an apartment or other property or not. Unfortunately for renters who have unsatisfactory credit history, poor credit score and/or rental history, it can affect the approval process for a place to rent. BrokenLease.com has the tools in place to assist potential renters locate the place they wish to rent regardless of what is showing up on their credit report.

What is Bad Credit?

Bad credit is when you have a signed agreement that involves paying borrowed money back like a mortgage for a home, a car loan, loans, credit cards and more. A signed agreement is also give when renting an apartment, furniture or anything else. Also, unpaid utilities, cable bills and cellphones can show up on credit reports. When you have a signed agreement or have a service agreement, you are expected to make payments by the set due date. When payments are received after the due date, it will more than likely show as delinquent on your credit report. Every month a payment is past due, it can reflect on the credit report. If credit obligations are paid on time, then that means you have good credit and when they are not paid on time, you may very well have bad credit.

Bad credit can affect your life tremendously. Lenders of loans and credit cards may not want to give you a loan or credit card if your credit history has late payments on it or anything else showing on the credit report like a foreclosure, repossession, liens or anything else. A lender may decide to decline your application or inflate your interest charge, giving you higher monthly payments.

Did you know that bad credit can also possibly affect your vehicle insurance rate and whether or not you would be required to pay a security deposit for your new cellphone service? Also, if a potential landlord decides to rent you an apartment, they may require more of a security deposit like first and/or last months’ rent on top of the first month’s rent.

If you missed any payments on credit cards, loans or other payments, you probably already know you may have bad credit. If recently, you have had a credit application turned down, credit limits on credit cards lowered or interest rates have increased, it is sign your credit may not be in the best shape.

Bad Credit Can Be Reversed

You can improve your credit over time. To get started, request a credit report so you can see what is on your credit report. You want to check the items on the report and make sure everything on the credit report is yours. If you know you paid something in full and it is still showing you owe money, then you can contact the creditor and hopefully get it closed. Also, you can file a credit report dispute and hopefully get items off your report that may be impacting the credit score. Most importantly, start paying your debt on time. Lenders will see you had a bad time in your life in the past but now you are back on track. If you are able to open up a credit card with a small limit to start building your credit back, it can help too!

A low credit score does mean bad credit, while a high credit score indicates good credit. At any time, a creditor lends money to an individual with bad credit, the creditor faces a greater risk of the individual missing payments, which means the person is considered a higher risk. So, if the lender decides to lend you any money or approve you for credit, they may approve you with a higher interest rate, which can be upsetting! No matter what, you don’t have to deal with bad credit for long, you can make changes to start repairing it.

BrokenLease.com consists of experienced apartment finders, apartment locators and apartment and residential rental professionals help individuals find a place to rent at no cost for the service. We will help you find a place to rent regardless if you have bad credit. Unfortunately, life does happen and sometimes things happen affecting your credit. The process of searching for an apartment and getting approved by a landlord can be stressful, especially if you have bad credit. We have been working with numerous individuals just like you who have bad credit. So, you are definitely not alone.

BrokenLease.com services are absolutely free. We will help you locate your most ideal apartment, and it won’t cost you anything. To get started, just fill out the form, submit it as soon as you can and one of our professional apartment locators will get back in touch with you with a list of fantastic apartments that meet your requirements. We will end up saving you a lot of time and aggravation. You can sit back and relax while we get a list of suitable places for you to rent regardless if you have bad credit or not. What are you waiting for? Let’s get started. It won’t take you very long to see why BrokenLease.com will be your #1 source for landing a great apartment.