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Bad credit. Need to rent REALLY BADLY. What can i do?!!

Me and my partner both have bad credit.

We desperately need to rent a place. Really urgently. Is there ANYTHING at all we can do to improve our credit WHILST paying off the debts.

Our debts don't amount to too much, around 3k together. But we need to move away asap and can only clear the 3k in around 4-5 months.

Do many landlords really accept double deposit as insurance? Would i sound stupid if i phoned an estate agents to ask this? Has anyone done this?

Renee xxx
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Comments

  • SuzySu
    SuzySu Posts: 3,478 Forumite
    I will wait with interest for the replies to this Renee as I'm sure our credit is shot to pieces too (and we have a fair amount of debt) and we will be looking to rent as soon as our house is sold.

    Good luck to you.
    YOUR = belonging to you (your coat); YOU'RE = you are (I hope you're ok)

    really....it's not hard to understand :T
  • msmicawber
    msmicawber Posts: 1,962
    Debt-free and Proud!
    Forumite
    I managed to pass landlord's credit checks all the time I owed money on my credit cards, so think that provided you're paying regularly towards your debts it doesn't matter too much. However, I've never had CCJs and don't know whether that made a difference.
    Debt at highest: £6,290.72 (14.2.1999)
    Debt free success date: 14.8.2006 :j
  • mogimorgan
    mogimorgan Posts: 146 Forumite
    I was in the same situation - now I have a rented property.

    What we did is that we went to the local paper and found a private landlord advertising there property for rent. Most of them will check refferences - but won't bother with a credit check as this will cost them. And if they need a tenant then most will try to get anyone they can.

    If you can find the right landlord - with the right house - you will find somewere.

    Any respectable estate agent will perform a credit search - unless you know someone who works as one and willing to do something on the side for you lol.

    Hope this helps.
  • Renee_ wrote: »
    Me and my partner both have bad credit.

    We desperately need to rent a place. Really urgently. Is there ANYTHING at all we can do to improve our credit WHILST paying off the debts.

    Our debts don't amount to too much, around 3k together. But we need to move away asap and can only clear the 3k in around 4-5 months.

    Do many landlords really accept double deposit as insurance? Would i sound stupid if i phoned an estate agents to ask this? Has anyone done this?

    Renee xxx

    are you paying off your debts regularly - ie making the required payments on time every month - if you haven't missed any payments or paid late then there is no reason for you to have a bad credit record. Check out your credit report - see here

    It is possible to rent even if you have bad credit - different agencies have different checking criteria + private landlords tend not to check at all as long as they have proof of salary. You can also get round a bad credit check if you offer a gurantor- or if you don't have anyone willing to do this you can offer to pay say 3 or 6 months rent upfront.
  • SuzySu
    SuzySu Posts: 3,478 Forumite
    Good idea Mogimorgan. Can we negotiate on rent as we would on a house price?
    YOUR = belonging to you (your coat); YOU'RE = you are (I hope you're ok)

    really....it's not hard to understand :T
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    You can make an offer on rent same as everything else. If you dont pass the credit check you can offer to pay 6 months rent in advance. Its a stretch but if its the only way.
  • mogimorgan
    mogimorgan Posts: 146 Forumite
    You can make an offer on rent same as everything else. If you dont pass the credit check you can offer to pay 6 months rent in advance. Its a stretch but if its the only way.

    I wouldn't advise this as what if the landlord house was repossesed in the first 2 months? You would lose 4 months rent. And really how realistic is it that someone could afford this in the first place.

    I would get the local free paper - look through it - ring a few but don't mention your bad credit. As long as you are working, and can afford the rent, you should find someone or somewere that is willing to rent to you.

    Also, you could put your name down on the Coucil/Housing assisation waiting list too. However, I don't beleive you would be very high on the list and could take a while.

    Good look!
  • ruggedtoast
    ruggedtoast Posts: 9,819 Forumite
    We paid 6 months in advance. Had to, we'd just come back from 3 years abroad and had no jobs.

    We had to pay a monster deposit as well, but we didnt get repossessed.

    Im not saying its desirable Im just saying its possible.
  • SuzySu
    SuzySu Posts: 3,478 Forumite
    As stated on previous posts, we will struggle even to acheive one month's rent up front so 6 months is just impossible. If we had that sort of money to hand I would not be needing to sell in the first place.
    YOUR = belonging to you (your coat); YOU'RE = you are (I hope you're ok)

    really....it's not hard to understand :T
  • Fred1_2
    Fred1_2 Posts: 214 Forumite
    As a private landlord, I have rented to someone with a bad credit reference. She was able to supply a guarrantor who has a good credit reference. I would certainly recommend staying away from agents, they probably won't touch you with a bargepole and will charge you an extortionate fee to do the check. A credit check and refernce check gan be done for about £35 so if you're charged more than £50 in "admin fees" you're probably being ripped off.

    Get in touch with your council and see if they have a bond guarrantee scheme, that will save you having to find a deposit , if your new landlord accepts their scheme. Also ask if they have a list of accredited landlords, they may even have a list of accredited landlords with vacancies, depends on the council.
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