ACX since you're in apartment leasing, riddle me this: My sister has an apartment collections on her report for $1151, date reported 6/1/2003, Type Collection. There are a ton of other collections and a few judgements on her report. Her and her 20 year old son are staying with us right now while I help her get back on her feet and with her credit. They are supposed to be out by Feb 1, 2004. My nephew and her both have good jobs right now and are starting to save some money. Is is possible for them to get an apartment in just HIS name but list her as a roommate who will make payments or will the fact that she'll be part of the application process and her credit report will deny them an apartment? Even is she were to pay off the $1151.00, will her credit score (443) and the other collections, derogatory info on her report be a killer in the app process? Do you have any suggestions for their situation?
Obviously you should start trying to clean up her credit as much as possible, but when it comes time for her to find an apartment I think the best approach is to be honest about everything up front. That way the apartment managers will see that she owns up to her past and is making an effort to clean things up, and also it will help weed out the apartments that flat out won't accept her. This will help keep the number of inquiries on her credit reports down. Also, I think she'll have better luck with individuals renting out a house or one side of their own duplex, or smaller companies that only have one apartment building. That way she's more likely to have contact with the person who makes the decision and they can see that she's making an effort. I think the bigger development companies are more likely to see her credit score and flat out refuse her. Also, it would probably be worthwhile for her to print out a copy of her credit report and take it when she's applying. This may help to further reduce the number of inquiries on her credit report. Finally, since she's living with you now and will be for several months it might be worthwhile for you to write her a credit reference letter as her 'previous landlord'. I don't know if she's paying you any rent, but it might be helpful for her to start... even if you just turn around and give her the money back. That way she'll have 6 months of canceled 'rent' checks to prove that she's been paying on time. If your last name is different than hers I think it will look much more credible, but even if not it may be helpful. HTH, Brett
