Dave Says: Credit Complications

Dear Dave,

What can you do when your credit is so bad that you can’t even rent an apartment? I make enough money now to afford one, but my credit history is so bad, no one wants to rent to me.

-- Ryan

Dear Ryan,

If your credit is in bad shape due to old, bad debts, the first thing you should do is systematically work through that list and clean them up. If you have outstanding debts, you have a legal and moral responsibility to repay them. Do a debt snowball, and make a list of all your debts from smallest to largest. Then, go to work paying off the smallest one first and work your way up the list. Wake one monster up at a time. Otherwise, you’ll have a real zoo on your hands.

Now, if you’re on the verge of being homeless and need a place to live immediately, find someone who will sit down with you and listen to your story. More than likely, this will be an individual, not a company, who owns an apartment or a house. Explain to them that you made some bad decisions earlier in your life, but that you’re making good money now and can afford an apartment. Find someone you can convince that you’ll be a good tenant in spite of the fact that your credit record is banged up, and that you’re working hard to pay off what you owe. Good luck, Ryan!

-- Dave