GENERAL INFORMATION: My credit report is WRONG and I need to lease

My Credit Report is WRONG and I need to Lease!

What Do I Do?

Let's use the example that someone has two Broken Leases on their credit - one for $1200 is INVALID and one for $236 is valid. Here's what I would advise:

1. Run your credit report at www.annualcreditreport.com
2. Be sure to pick all 3 credit agencies and DISPUTE the incorrect BL on each. Print out your credit report on each one too (so you can show it to the new complex you are interested in).
3. Do not (unless you want to pay for it) pick your credit scores or ID theft protection; these are chargeable services.
4. Call the complex where you owe the $236 and make arrangements to pay them off; at this point tell them you can make 4 payments of $59. Get it in writing or you will not get any specials from any complex (and the specials should be worth more than the $236.
5. I will call the new complex and prepare the way for you so call me when the above steps are completed.
6. Go to new complex with the credit reports and the letter to the old complex where you will be making payments. The new complex may require the old place (the one accepting the payment arrangements) to give you a letter from them on their letterhead.

Then, be sure to follow up on the disputed item and make sure it is removed. Run your credit report every year. I suggest you run your credit on your birthday so you won't forget.

GENERAL INFORMATION: Before you lease - Run Your Credit Report

The second in a series called PICK MY BRAIN

Before You Lease 1 of 4 - Run your credit report

Run your Credit Report for free at www.annualcreditreport.com. The site will present six to eight questions that only you would know the answer to (example: what color was the car you purchased in 1997 or did you ever live on Bayshore Blvd.). The web-based program will then ask you which of the 3 credit bureaus you want to check – pick all three. Then the site will ask you if you want to purchase credit scores or other tools – just say NO to keep the session free.

Dispute any inaccurate information. If the report shows you have a broken lease or owe for a credit card you don’t owe – dispute this and follow the instructions on how to formally file a dispute (it usually involves writing a certified letter not just clicking on Dispute).

Doggedly pursue any disputed items; this can save you big bucks and increase the number of apartment complexes that will accept you. For example, if an apartment complex says you broke a lease, it may eliminate 8 of 10 apartment complexes from your search. Plus you are unlikely to get a special with a broken lease.