Do you view your credit with contempt or respect?

This economy has taken it's toll... It's an interesting time.  Years ago, a poor credit score, a bankruptcy or foreclosure made it virtually impossible to  find a place to rent.  These days a short sale, foreclosure and/or bankruptcy are common place as are low credit scores.  People in those positions do need quality rental housing.

As a Realtor who manages rental properties for clients we analyze the credit scores, bankruptcy, short sale and foreclosure issues with an open mind.   After all, bad things happen to good people.  It's what they do with that adversity that makes the difference, the Credit report tells the story.

Simply put the credit before the "bad" thing and after the "bad" thing tell the story.  Have you had responsible credit history and a timeline when a job loss or health issue happened with a period of late payments, collections, etc?  That is a story of a responsible person that had a hard time and for a period lapsed and the credit before and after the event is exemplary.  I always ask prospective tenants if they have anything to explain to me so that they might have the opportunity to explain whatever I might find when I run the credit report.  Many will tell me their stories before I have to find out, taking responsibility and tell how they plan to handle it in the future.  After all the landlord's major worry, and my responsibility is, to assist them in finding the right tenant who will take care of their property as well as pay the rent so that they can keep up with their mortgage and taxes and keep their own credit clean. 

Contempt, blame and it's always something being done to me, we stay away from those tenants.  Those who blame the current economy but have a credit history of late payments and collections before and after "bad" things that may have happened, now that's another story.  Curious to me are people who default on their student loans and utilities, phone, and minor bills.  The justification that allows people to default on these type things change how I view that prospect.  If you won't pay your utilities, will you pay your rent?  I'm not sure.  If you can't or won't pay a student loan (generally very low monthly payments tailored to your situation) what happens with our rent?  If you won't pay the small dentist or doctor bills, when they were there for you when you needed them, will you pay the rent when the landlord needs to pay their mortgage?  I've seen a collection account for less than $200, $100 or even $25... what makes that ok?  Most medical and dental bills can be paid in small increments if needed.

Last and most absurd are the prospects who, when asked why they are moving, tell you how horrible their landlord is and all the stories about the awful property they are living in.  I stay VERY far away from those tenants.  Investigate of course, but generally stay away from the "blame person".

How you view your credit, with contempt or respect, makes a difference and it shows on your credit report.