Hello all, I am a relative n00b here on the TFP, I lurk a lot but haven't posted much. I enjoy these forums and their information immensly, however, and am hoping that I can get some assistance or friendly advice.
I am in the (not-so) unique situation of having a horrible credit history. Between college, a business partnership that went south, and a divorce, my credit is pretty bad. To give you an idea:
Quote:
Account Summary
Mortgage 0 $0
Installment 2 $1,819
Revolving 3 $601
Other 4 $368
Total 9 $2,788
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quoted from my Experian report, and a bankruptcy in April 2003.
All of this is old debt that has been covered by the bankruptcy, as well as a ton of debt that never hit the credit report.
My problem is in getting into an aprtment. All of the larger leasing companies do thorough credit checks, and the bankruptcy DQ's me right there. I am also finding that more and more independant landlords are doing the same. As a matter of fact, after three months of apt searching (my current lease runs out in March, and a rent hike is coming), I have found exactly 0 apartments that will accept myself and my fiance as tenants.
The laughable part of this all, looking back, is that between my fiance and myself we bring home about 40K/year (which is not bad for rural ND). However, it is hard to hold a job without a place to live.
I don't understand how a landlord can look at a bankruptcy 2 years ago, and tell a young couple with a 40K annual income that they are a 'rental risk' to a $350/month apartment....
Any ideas/suggestion/comments etc?