Renting and bad credit rating.

Scarlett.1974

Hi, have posted this on DFW board too

Does anyone have an experience here? Did you find it difficult/impossible/not as bad as you thought?

Basically H and I will be going BR in the next 2/3 months and our house will be repossed. Plan is to rent privately, but I'm very concerned at the effect our already very poor credit rating could have on this. We're already on a DMP with Payplan, so credit rating will be in tattters already.

Surely we can't be the first people to need to rent due to repossession? Obviously we want to be in the property before BR, I imagine it would be almost impossible then? Would it be worth me contacting a local EA (without giving any info, name etc....) to ask what the effect of bad credit does have on our chances of renting privately?

Many thanks

tigerfeet2006

I think a lot of people use privare rentals as they do not often do credit checks. Some people have managed to do it by getting a guarantor (sp). Others have managed it by putting down 6 months deposit.

Hopefully you will be able to get some useful advice from some of the guys that have been through it.

Scarlett.1974

Thanks tigerfeet

6 months?? <faints> :eek:

Best start checking out the private rentals in the local paper this week then!

tigerfeet2006

No problems Scarlett. Hopefully some people will have some more constructive advice for you.

Scarlett.1974

Actually, giving this some more thought....... raising 6 months rent up front would be pretty much impossible. But.... my Mum has an immaculate credit rating and I bet she'd be willing to act as a guarantor for us Could be an option.....

betterlatethannever

I think its your best option Scarlett.
I've known one or two people on here who have managed to rent using a guarantor with no problem.
You could also try using smaller agencies. Ones not attached to an EA, and plead with them. They are sometimes more willing to accept you.
Can you provide any good character references? they may help you too
Good luck

tigerfeet2006

I also remember someone writing a letter to a potenial landlord stating why they would make a tenent and that seemed to help.

bobblebot

Hey, don't worry,
I was made BR in June 2007, just gone through voluntary repossessin after managing to get a lovely 3 bed semi in great area by private rental, little questaions asked. So just shows you, I'm also now claiming housing benefit just work PT-just shows you, no need of guarantors...I also am pregnant with 4 kids to boot....so if someone would ent to me guess they would def to you lol!

Scarlett.1974

betterlatethannever wrote: »

I think its your best option Scarlett.
I've known one or two people on here who have managed to rent using a guarantor with no problem.
You could also try using smaller agencies. Ones not attached to an EA, and plead with them. They are sometimes more willing to accept you.
Can you provide any good character references? they may help you too
Good luck

I'm sure I could you know Who would they need to be from? I'm guessing my friends writing "please rent my friend a house, she's lovely really" isn't exactly what they're looking for? I'm sure my employer would for sure....... who else?

Thank you xx

Scarlett.1974

bobblebot wrote: »

Hey, don't worry,
I was made BR in June 2007, just gone through voluntary repossessin after managing to get a lovely 3 bed semi in great area by private rental, little questaions asked. So just shows you, I'm also now claiming housing benefit just work PT-just shows you, no need of guarantors...I also am pregnant with 4 kids to boot....so if someone would ent to me guess they would def to you lol!

Thanks bobblebot, that's really encouraging. I'm going to start looking through the local paper tonight at the private rentals

Can I ask you, how was the process of voluntary reposession? Did you just stop paying your mortgage then and wait for the mortgage co. to start proceedings? How long did it take? Had you already moved out before the respossion was finalised then? So sorry for all the questions, but this is the bit that's confusing and concerning me the most

Scarlett xx

Scarlett.1974

tigerfeet2006 wrote: »

I also remember someone writing a letter to a potenial landlord stating why they would make a tenent and that seemed to help.

Thanks tigerfeet, I'll do whatever it takes (within reason!) to secure us somewhere to live