Will Defaulting a few times affect me from renting at my age?

spoonynick

hello my name is nick, im 20 years old this year i will be 21 I hopefuly will be getting my flat near christmas, november roughly if all go's well, however, im in debt im still paying it was about 700pound at first now its below 300 well 249, im defaulted a few times only to change the date of when i can pay and what i can pay.

but when my debt is paid off will the "defaulting" affect me from getting a flat. as the flat i want is nice stylish however im worried that they may turn me down.

Worriedmummy

No not at all. Letting agents when they do what they call 'credit checks' are completely different to the credit check a credit card company or bank would do.

Your credit score which you describe is only available to credit companies, so you may struggle getting credit, but a letting agent can only see if you have anything nasty like a IVA, CCJ or if you are bankrupt - they cannot see your credit score, if you have defaulted or how much credit you have got.

Hope that helps.

PasturesNew

Renting a flat is the START of all the costs. Bills on top will cost you £200/month, then you have to eat - and buy house-stuff.

If you're that young and in that much debt and have already defaulted... I'd suggest you "rough it out" for 1-2 years in a shared house as a stepping stone to trading up a bit later... and "stylish" means you'd be paying a higher rent than less stylish places would be.

Remember - if you lose your job, your rent won't be paid, you'd only be able to claim a "room in a shared house" rate, instantly plunging you into more debt potential.

Why the rush??