Bankruptcy advice again please

Ineedaname

Johnpj wrote: »

I will monitor though, and if I feel I have anything to add I will private message you with a REQUEST to send info. I will not send any info if you say no.

Providing advice via PM is not encouraged as it only provides one person's opinion and, if that advice is followed there is the potential for some very hot water if all goes wrong.

Better to have several opinions in the open forum so the member can benefit more.

philnicandamy

Ineedaname wrote: »

Providing advice via PM is not encouraged as it only provides one person's opinion and, if that advice is followed there is the potential for some very hot water if all goes wrong.

Better to have several opinions in the open forum so the member (and future members) can benefit more.

Just a small addittion

Maizy

removed post

NeverAgain_2

I'm getting frustrated with this renting/credit check m'larkey, and I'm not directly involved.

It's not as if the poxy landlord is offering the tenant any credit, so why the obsession with checks?

Still, Imindebtjayne's post proves common sense can still prevail.

kepar

NeverAgain wrote: »

I'm getting frustrated with this renting/credit check m'larkey, and I'm not directly involved.

It's not as if the poxy landlord is offering the tenant any credit, so why the obsession with checks?

Still, Imindebtjayne's post proves common sense can still prevail.

How do you think the Estate Agents can make easy money? How many apply for each rental? How many credit checks. I don't think it is the Landlords, Don't forget the housing market is slow at the moment. Some agents are closing.

silvercar

NeverAgain wrote: »

It's not as if the poxy landlord is offering the tenant any credit, so why the obsession with checks?

Because the landlord is running a business and wants to be reassured that the tenant will pay the rent. So checking on the financial history is a way of finding people who have previously kept to credit agreements.

Best advice is to be upfront and honest. If you know there is information that will be revealed by a credit check, inform the letting agent and landlord first and ask if that will mean that you won't be considered.

Ineedaname

kepar wrote: »

Don't forget the housing market is slow at the moment. Some agents are closing.

I would caveat that in that rentals are going up because mortgages are going down. So rental agents in many areas are doing very well.

Otherwise, I agree. A credit check costs, I think, around £30, then there's admin costs at the rental agency for posting off/ringing up for the credit check, bank reference and landlord reference. All in all, I reckon, should cost less than £50.

Which means those charging £200 have a big profit margin.

Don't forget they also charge the landlord a 'new tenant finding' fee and then charge both the landlord and the tenant for contract renewals, making another huge chunk of money.