bad credit?
I am moving out of my apartment early and they are reporting me to a collection agency does this mean that I wont be able to buy a new car or get a credit card or will it just look bad when I try and rent another place
Public Comments
- Rental credit is just that... for rentals. This should not adversely affect your automobile, mortgage, or personal line of credit. That being said, try to talk them out of it as it may be harder to get a place in the future. Offer to pony up the money or get on a payment plan.
- See if you can find some one else to take over your lease and that should not make it so that they will report you. Most places will have a buy out where you pay $X amount and that will get you out of your contract. The only time that I am aware of something going to a collection agency is if you owe them money for anything and they have tried to get it and you wont pay it or it is just past due the time they said to pay it and if not they will report it and make you pay the amount plus the collection fees involved.
- Tell them if they report you.. you will get some relative that just got out of prison..to come over one night and cost them thousands of dollars....they can threaten you...and you can threaten them... bad things happen...like toothpicks broken off in all apartments door locks and all mailbox locks....motor oil in the pool....spray paint the walkways and buildings.....this did happen where I lived..no it wasn't me...I sure heard about it....my lock was hit..
- Easyrhino's answer is only partly true. As a mortgage lender (and author of a book on credit scores) I can tell you that if your apartment reports a collection on you, YES it will hurt your scores and increase your rate on an auto loan and mortgage loans. Avoid collections. Pay what you owe, if anything. Go to www.LearnAboutCredit.com
* Some answers may have been provided by Yahoo! Answers.