If you have bad credit and need a loan you might have a tough road ahead. The single largest factor that is used to decide if you will be approved for a loan is your credit. Just like renting an apartment if you have bad credit your options are severely limited but you are not out of the game entirely. Yes you can get a loan with bad credit but expect to pay much higher interest rates and you might need to shop around to get the best terms. If you want to try and get a loan with bad credit it can help to plan ahead, try and improve your credit so you can maybe go from bad to just not preferred or use an alternative type of loan like a payday loan or other short term type of loan. Some banks have their own form of short term similar to a payday loan that they call a direct deposit advance. This loan can even be used as an unemployment loan for those who have unemployment benefits direct deposited in their bank account. Getting a loan with bad credit is never easy and certainly not preferred but if like throws you an emergency there are loans out there even if you have less than desirable credit.

If you are an apartment renter with bad credit you might be wondering if you can actually rent an apartment with poor credit. The answer is yes but it may take some preparation and extra steps to get approved to rent an apartment. First find out what is on your credit.
If you have bad credit but have time before you need to rent an apartment you are fortunate. You may be able to improve your credit by paying your bills on time, reducing debt and allowing time to heal your credit a bit before you apply for your apartment.

Another tip that helps renters who have bad credit is to prepare to explain your bad credit to the potential landlord. Often being up front and honest about your credit and explaining any situation surrounding the poor credit can help your landlord give you extra consideration that you might not otherwise receive.

The most important tip is to be honest about your credit history. Don’t let the landlord “discover” your bad credit, fill them in before they run your credit so that what they see doesn’t shock them and if they like you they may approve your apartment rental.

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If you have a low credit score IE Bad Credit that can certainly make it tough to rent an apartment. However it’s not uncommon for renters to have bad credit and your landlord has likley seen all sorts of bad credit. They key to renting with bad credit is to be upfront about it to save time for yourself and your landlord. Call around and ask for the screening requirements. If credit is going to be a problem the landlord will tell you to save time. You may find that renting from a mom and pop operation vs a large apartment complex will increase the chances that you can be approved for the apartment even with bad credit. If you are finding it tough to get approved for an apartment you need to start working on repairing your bad credit. Pull your credit report and start trying to bring all debts current. Just doing this can move your score higher in a few months.

In many states renters are entitled to a renters rebate with the theory that their rent paid is used to pay property taxes on the unit they are living in. The landlord is usually required to provide statement showing how much rent was paid in the year. Then the state provides a renters refund based on the amount of rent paid. In many states this is called the Certificate Of Rent Paid and is usually due to be given to the renters by January 31st. The renters refund can be a timely infuse of cash and is great for stimulating the economy because many treat it like found money and go buy things vs paying off debt etc. To find out if your state offers a renters refund Google is a great place to start. Just do a search for state renters refund or certificate of rent paid state replacing the word state with the state you rented in. If you find that your state does offer a renters refund and you have not received your certificate of rent paid contact your landlord around the 15th of January and ask when they will be sent out.

If you think you might be moving to another apartment or rental house or even buying a house you will want to ensure you can get a good reference from your current landlord. How can you do this? Well start by paying your rent on time or even a week early. Hopefully you are already doing this and you can just keep your current habits. If your sending in the rent just prior to the 5 day grace period to avoid the late fee start getting it in on the last day or the 1st of every month. If you need repairs made, be polite and send your requests in writing. Follow up with the landlord to provide feedback on the repair and if the experience went well thank them for the prompt response. Hopefully you have a good landlord who is responsive so you can just provide positive feedback to keep the response quick and increase the chances of you obtaining a good reference. If you feel comfortable it wouldn’t hurt as well to make contact with the landlord and ask for feedback based on their experience. You could just say that you are doing a yearly update on your credit and references and wanted to see how the landlord was feeling about your relationship. Feedback is always key in knowing where you stand so you can be sure to get a good reference when needed.

Many renters wonder if paying their rent on time or early will boost their credit score.  The sad fact is that generally your landlord will not report your payment to any credit bureau so it will not increase your credit score to pay rent early and on time.  You should know however that paying rent late will also not show up on the credit report but if you are evicted or sued by your landlord the judgement will then be reported on your credit report.  So if you want to keep your good credit be sure to pay your rent at least on time and if late communicate well with your landlord.  In addition to your credit it’s good to pay on time and early to maintain a good reference which you will someday need when moving to another rental. So if you are with someone and they ask will paying my rent on time help my credit you can explain to them that no it won’t help your credit but there are other good reasons to pay rent on time that will help you. To find out for sure