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Question for the Money Doctors

Question submitted on Mar 9, 2012.

Question

i am a 22 year old married mother of two. in 2010 i leased an apartment knowing that at the time i was not gainfully employed. they evicted me and took me to court. i didnt have valid transportation to make it there, as far as i was told it was reported as an eviction, however when i checked my credit report it was written as a broken lease. now two years later i am unable to lease an apartment in my name? what should i do?

Answer

You are in a tough spot.  Negative credit reporting can be very damaging.  There are a couple of things you can do to make sure you have somewhere to live:

1) if your husband has better credit than you, perhaps you could get a lease in his name until the bad reporting passes in your name.

2) Depending on where you live, buying a house is sometimes cheaper than renting an apartment.  Since the housing crisis in 2008, housing is very affordable, interest rates are low and there are loans through FHA (Federal Housing Administration) that require as little as a 3% down.

3) If you believe that this report on you credit report is false, go to this website: http://www.ftc.gov/bcp/edu/pubs/consumer/credit/cre13.shtm.  The FTC (Federal Trade Commission)  gives some good advice about how to dispute false and damaging items on your credit report. 

I hope this helps.  Good luck!


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