Homeless because of bad credit?

[pinnjnnn]

I can't find anywhere that will rent me a house as I have bad credit and fail the credit checks
I work but my credit history is bad.
Nobody I know owns property so can't be a guarantor
What am I meant to do?
I'm gonna have no where to live
Can these letting agents do this?

Tbf if you have CCJs it means you would NOT always pay the rent. Even more, it actually shows that you let it go too far.
No solid landlord with survival instinct would let you a studio let alone a "nice 2 bad flat".

You need to lower your outgoings to an absolute minimum and pay your debt off.

Why so many nasty comments .
OP didn't say she was going to get pregnant to get a house did she so why make so many derogatory comments.
Debt can happen to anyone.

See the problem is that you may not be still getting into debt. You have zero knowledge of finances.

Paying £200 per month while living at home isn't helping. Now should be the time you are paying as much as you physically can to clear the debts and then start saving.

Even if you found a flat tomorrow how will you furnish it?You can't afford to pay more than £200 towards the debt. How will you pay your half of rent, council tax, contents insurance, gas electric, car finance, car insurance, petrol, food, phone etc AND the £200 per month towards the debt.

And save for a baby. All the baby's stuff. The mat leave? Childcare if you go back full time or part time etc?

How do you imagine you can do this when you work fulltime now but can't afford more than £200 a month towards debt, whilst living at your parents?

I am positive, that not only have you got ccjs due to losing your job, your money management was poor before and is poor now.

Debt can happen to anyone.

Yes it can. But when you live at home with your parents and got to The ops age, it's ridiculous.

You may not like the idea of using Spareroom but surely it’s a better alternative than being ‘homeless’ - which is what you have suggested in your thread title.

There’s no point paying them off quicker - once they’re on your file it makes little difference whether they’re settled or not.

I have JUST been able to get a mortgage after nearly ten years because of two CCJs (mental health issues after bereavement). Both were settled and both were less than £1000.

The fact is you are not going to be able to rent with that much adverse, and at two years old it’s still pretty recent.

I’d spend a couple of years saving and look to move then. It’s not going to happen yet.

How do credit ratings work?

I thought if you paid off debts or paid consistently, regardless of if you had defaulted they would get better?

Is that not the case? I thought it was always worth paying off defaults ASAP?

Sorry cross posted with BifsWif

Wait what? Is that true? So basically once you have any defaults you are basically fucked?

Defaults and CCJs will have a negative impact on your file for 6 years, settled or not. If it’s one default, and it was settled, a lender might look more favourably on it but with the amount the OP has it’s not going to make that much difference.

My last CCJ was settled, less than 800 and six years old; my credit score increased by 250 points on Experian when it dropped off.

It's always worth paying debts off. Least of all because it means you will have more spare money when they are done.

With a ccj, paying it off may improve the overall credit rating, but the can will remain.

If the op pays off her debt she will have more money to save and won't have to find money for bills AND this debt. She is in a prime position to pay more off.

Defaults aren’t great, but CCJ’s are worse.

Some lenders (mortgage I mean) will allow up to two defaults as long as they’re over two years old, or one within a year but you’ll pay a higher rate.

It depends on the amount of defaults, how old they are and the value.

Do letting agencies look at CCJ’s or defaults or both? I have a default and need to move and am worried it will impact! We have paid off all our debt if it helps but obviously the default (but not Ccjs - I don’t have any CCj’s) will remain on my file

I didn’t say don’t pay the debt off, the OP has an arrangement that she’s sticking to, I said it wouldn’t make much difference paying them off any quicker. There’s so many negative factors it wouldn’t make much difference.

Silverdoe,
Late and missed payments on your credit rating can be discussed with the conoanynto eb removed once settled, but this is up to their discretion.
Anything more than that remains on your file for 6 years, no matter what. It is ALWAYS worth paying them off quicker/when payments are due. Because although you may have 3 defaults, 3 defaults + positively paying back what you owe is much better than 3defaults and still running behind on payments. Besides, it much nicer to clear the debt, then have extra money to save for something nice.. like a flat or a house.

That’s Helpful BifsWif - do you work in the industry?

I didn't say you did say don't pay them off.

But it's worth paying them off quicker. For the reasons stated.

Damn :(

Well, OP if you google renting with bad credit it is possible. I think really you need a guarantor though to make it work.

I did a few years ago, yes.

More recently we’ve been through the mortgage process and I’ve spent two years (not an exaggeration) fixing my credit file and talking to brokers/specialist lenders. It’s been awful, I’ll never miss a payment again. It really does fuck you up for years.

Your credit rating is essentially a huge, monetary trust exercise. You don't pay, you fail.

You're not homeless if you live with your parents?

I'd stay with them until you can sort your credit out. save some money. Sounds risky to be planning a family in your position.

I can't even get a mobile contract.
That's in my dads name.
It's all a massive struggle

good, im bloody tired of people racking up debt and not paying the full amount back or paying nothing and carrying on as normal and think they should be able to get more credit and have no effect on their lifes

you say you dont want DP having the flat in his name but are quite happy for him to father your child in the future

you sound very imature

Apositivemind thank you that’s very helpful :)

Why have you got a car loan? Can you get rid of the car and get a cheap no financed car? Then put that money into repaying debts.

If you are struggling to make repayments and save when you rent is only 300 how will you cope with market rent?

You are 30 you actually have to take ownership of your money and your life.

I got a car loan years ago to be able to buy a car.
I got it through welcome finance and it's £250 a month ..the car was worth £4,500 and I'm paying back over £11,000
Then my insurance is £70 a month