What To Do If Your Apartment Application Is Rejected

If your rental application was rejected due to a black mark onyour credit report, don't just ignore the situation out ofembarrassment... get a copy of the report and see what you cando to tackle the problem. You may find your credit report haserrors or marks you didn't even know about.

Three companies distribute your credit information:

Experian: 1-888-397-3742 Equifax: 1-800-685-1111 TransUnion:1-800-916-8800 You can call any of their toll free numbers tofind out how to get a copy of your credit report. If you requesta copy within 60 days of the rejected application, you canobtain the report with no charge. If you wait any longer thecharge is usually about eight dollars per report.

Don't assume that you know why your application was rejectedwithout examining your report. Recently, my friend Dave SmithJr.* applied for a loan and was rejected. He knew his recordsweren't the best in the world but decided to get a copy of thereport anyway--just out of curiosity. He was shocked to seeseveral black marks that were put on his report instead of hisfather's. The credit bureau had confused his credit history(Dave Smith Jr.) with his father's credit history (Dave SmithSr.) and noted a bankruptcy on his report! This wasn't all...Apparently, a dispute he thought he'd handled with a car companywasn't reflected on his report and the bad marks were stillthere.

So how do you get errors taken off of your credit report? You'llsimply fill out the "dispute form" included with the report orwrite a letter to the bureau about the problem. Unless thecredit bureau dismisses your request as "frivolous", they arerequired by law to contact the companies in dispute withinthirty days. If they find they have made an error, they willremove the bad information. However, if the company confirmsthat the information on your report is correct, it will remainthere for 7 to 10 years.

If you feel the company is incorrect, you are allowed to write a100 word statement which the bureaus are required by law todistribute along with your credit report to everyone who asksfor it in the future.

If there are no errors on your report, but your credit isn't toogreat, you'll need to do what you can to repair the problems.While you might think one of the thousands of "credit doctors"out there can help you... DON'T TRY THEM!!! Watch out for peoplewho claim they can "Erase bad credit...", "Help you start with aclean board..." or who promise "You'll have great credit in notime!" It can't be done. Some of their tactics are illegal andcan even get you thrown in jail. The only solutions for dealingwith black marks like late payments and bankruptcy are to:

wait it out and/or try to rebuilding your credit by getting yourfinances organized There are many systems out there to help youget things back in order and many of them are free. For a freeguide book for "Knowing and Understanding Your Credit" fromFannie Mae, click here. For an article with links to serveralfree credit counseling groups, click here.

To find out what possible errors to look for in your report,visit BankRate.com's "Credit How To Guide."

For great advice on understanding your credit report, visitBankRate.com.

*names have been changed

About the author:since 1989 dan the roommate man has helped 1000's of people findgood roommates.

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