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If I understand you correctly, the judgment shows up on the public record section of your credit report. What you can do about that, is go online to each of the credit bureaus and you can add a comment to that statement. Say that you cosigned for someone who was evicted and you are negotiating repayment. Something like that. You can do it free through this website:
Next, get a copy of the lease that shows you are the co-signer and not the tenant.
Then, go ahead and apply to apartments. Just tell them ahead of time that you co-signed for someone who ended up with a judgment, and you have proof that you were just the co-signer. Ask them if it's still worth it to go ahead and apply, that you don't want them to run a credit check and charge you a fee if they know they will turn you down.
You can honestly say that you were never evicted on the section of the application that asks you that.
I will assume that you otherwise have good landlord references. In that case, if you came to me and were honest and showed me the lease that shows you as a co-signer, and everything else looked good, I'd probably have rented to you. You can also print out your credit report and take that, too, to the property manager. They will still want to run your report, but you can give them the option of telling you if you'd automatically be turned down, and save the application fee and another run on your credit.
I've had applicants do such things, and tenants who were honest from the get-go got major points with me.
Anyway, I don't think this is a deal breaker for you, as you were the co-signer, not the tenant.
Sorry your friend took advantage. Sad lesson. Enjoy Atlanta!
What part of co-signing don't you understand?
If you co-sign it means you sign to be responsible and liable for the person who you sign for to make sure the person who is on the receiving end will get their money! If they don't than a judgment will be entered against all parties who signed on a lease! (if a case is filed in court)
If you co-sign it means you sign to be responsible and liable for the person who you sign for to make sure the person who is on the receiving end will get their money! If they don't than a judgment will be entered against all parties who signed on a lease! (if a case is filed in court)
What part of tenant vs co-signer do YOU not understand? Where on earth did you get the idea I thought the judgment wasn't legal against the OP? Never said that. I did say that as a manager, I would look at the situation differently for the co-signer vs. the evicted tenant.
Yes, a co-signer is responsible for money. But the co-signer didn't get evicted. He got stuck with the bill created by the evicted tenant.
Apples vs oranges.
If you'd throw them both under the bus equally, that's your prerogative. I wouldn't.
What part of tenant vs co-signer do YOU not understand? Where on earth did you get the idea I thought the judgment wasn't legal against the OP? Never said that. I did say that as a manager, I would look at the situation differently for the co-signer vs. the evicted tenant.
Yes, a co-signer is responsible for money. But the co-signer didn't get evicted. He got stuck with the bill created by the evicted tenant.
Apples vs oranges.
If you'd throw them both under the bus equally, that's your prerogative. I wouldn't.
We don't know for sure that he didn't get evicted.......he never made that part really clear. If they skipped out on the lease in the middle of the night, the landlord has to file eviction on everyone on the lease for non payment of rent. (doesn't matter if he lived there or not, he's on the lease, he can be evicted)
If the tenant was following the early least termination clause in the lease and just stop making payments, or the check bounced, or whatever...there normally wouldn't be an eviction (landlord already has the key and possession of the unit) It would go right to small claims court.
Again, a judgment is a judgment, the who, where, what and why doesn't really matter to some landlords. Once they see you were sued by another landlord and lost; games over. They might over look a judgment for unpaid medical bills or credit card debt, but not unpaid rent.
Again, a judgment is a judgment, the who, where, what and why doesn't really matter to some landlords.
To busy landlords and PMCs it doesn't matter at all as they don't bother to take the time to look into the ins and outs. Judgment = File 13. On the other hand many (particularly private) LLs don't bother with an extensive background check at all, many don't even check past landlord references.
To busy landlords and PMCs it doesn't matter at all as they don't bother to take the time to look into the ins and outs. Judgment = File 13. On the other hand many (particularly private) LLs don't bother with an extensive background check at all, many don't even check past landlord references.
We usually don't check LL references for one simple reason.
Any LL who wants to get rid of a tenant will not say anything bad to avoid the person from staying. That part I learned from a police officer when I dealt on my own rental with a tenant that had left overnight and I told the officer that I had given a positive reference since up to that time they always had paid the rent and that I felt horrible giving the positive reference since the tenant was now going to move to a street very close to where I lived and I didn't want the owner to think that I was doing it on purpose. The cop told me not to see a word since they tenant might show up again and move back in since some pieces were left as garbage and one big desk but all their clothes, beds, furniture was gone...
The office further stated that LL references are not to be held to much value since it is easier to get rid of a bad tenant by providing a positive reference than to be stuck with a tenant that can't find a new place and having to evict them.
That remark bothered me but in the end it makes kind of sense so due to that my value on LL references is not very high and a credit report and criminal report tell us way more.
Unfortunately a co-signer is to me liable since they sign to be responsible and should be careful what they sign for.
I happen to know that when a foreigner get sponsored for a greencard by a citizen the citizen is responsible and liable if the foreigner applies for government assistance and the government can recoup from the citizen which is similar.
Know why you sign for someone else.
Just watch some judge shows and you will see the dumb people who sign for other peoples phone bill and get stiffed...the others are stuck with a collection or high charges if the other person doesn't pay....
There are consequences for signing and even if you are a very good person it can cost you a lot of bad times, so never sign unless you are absolutely positive and willing to take the consequences...there is a reason why the other person can't get the item or rental due to their behavior and often they rent above their means and some fool will sign for them.
We had a mom who wanted to sign for her son who failed to disclose drug charges and arrests and pled guilty...lying is automatic denial. A mom willing to sign didn't matter for us since if they mom wanted to help she should have disclosed it when she called for her son to be able to rent and also failed to disclose his past.
Btw I know that in todays society many people don't feel responsible and liable for anything they sign...that is why were dealing with so many short sales and foreclosures. People sign easily but when you point out that it is a contract that they sign and that there are consequences, than all of a sudden we get excuses but to me people should act like an adult when they sign and act like an adult if something happens and deal with the consequences.
Sorry if you feel that I'm harsh about it but we see it daily with people who don't even take the time reading a lease, or contract.
Even though you never lived there...if you co signed the lease than you are evicted as the tenant who lived there and it will show up in your name. An eviction is filed for any person on the lease regardless where they live.
The same counts for people in foreclosure when they get served...all people get served incl. unknown tenants. Since in that case tenants are unknown it will not be filed in their name but as unknown.
When you name is on the lease you signed to be responsible so lesson learned and now you have to deal with the consequences and solve it.
You can't undo what is already done but you can work towards removal of it but it takes a long time before it won't show up anymore.
We had ourselves one time a SAMs club credit card and got gas for approx. $ 30. Never used the card anymore but we had prior to that and always paid it off in full. We moved and gave notice to SAMs club about our new address and got our fliers for SAMs club at the new address. After almost 3 years at the new address we got a suspicious looking letter stating it was from a collection company and an amount of more than $300 for a gas bill and fees, interest, etc.
After speaking with the collection comp. and going to SAMs club I learned SAMs club had made an error and never gave the new address to the credit card company as they should have and they apologized and paid the full bill to us so we could pay it off and SAMs club wrote a letter and called the collection comp. who closed out the account immediately but the 3 credit bureaus stated it would be off after 7 years and that is what happened. We had tried everything to get it off sooner but without success. Lesson learned and we closed our credit card after it was paid off and now only have bank credit cards and one store credit card, and a credit score of 815.
In the OP case reality is that if you want to act like an adult and sign for someone else you have to realize that you are signing to take the risks that anything that other person will do will reflect on them....
I truly agree... I am not looking for sympathy or any of that right now. At the end of the day... it is my fault and I am the one to blame for signing in the first place. Just wanted to read experiences and advice from others that's been through this sort of situation.
If I understand you correctly, the judgment shows up on the public record section of your credit report. What you can do about that, is go online to each of the credit bureaus and you can add a comment to that statement. Say that you cosigned for someone who was evicted and you are negotiating repayment. Something like that. You can do it free through this website:
Next, get a copy of the lease that shows you are the co-signer and not the tenant.
Then, go ahead and apply to apartments. Just tell them ahead of time that you co-signed for someone who ended up with a judgment, and you have proof that you were just the co-signer. Ask them if it's still worth it to go ahead and apply, that you don't want them to run a credit check and charge you a fee if they know they will turn you down.
You can honestly say that you were never evicted on the section of the application that asks you that.
I will assume that you otherwise have good landlord references. In that case, if you came to me and were honest and showed me the lease that shows you as a co-signer, and everything else looked good, I'd probably have rented to you. You can also print out your credit report and take that, too, to the property manager. They will still want to run your report, but you can give them the option of telling you if you'd automatically be turned down, and save the application fee and another run on your credit.
I've had applicants do such things, and tenants who were honest from the get-go got major points with me.
Anyway, I don't think this is a deal breaker for you, as you were the co-signer, not the tenant.
Sorry your friend took advantage. Sad lesson. Enjoy Atlanta!
Thank you for your input. I am going to take each step you stated.
I truly agree... I am not looking for sympathy or any of that right now. At the end of the day... it is my fault and I am the one to blame for signing in the first place. Just wanted to read experiences and advice from others that's been through this sort of situation.
I'm sorry it happened to you. You tried to help out and often this is how it ends because others don't care that someone else is trying to help out. It is a hard lesson learned and I hope you will not do it ever again...if people don't like you for not helping that just let them walk away, they are not worth your friendship.
Friendships are not based on helping people to get things they can't afford. Happy Thanksgiving and if you can pay it off and get a judgment against the people you signed for (if it even makes sense and are able to collect) than you may get something back, otherwise forget and move forward.
I can tell you from experience, you can still find an apartment. It might not be the one you really want. But there's landlords that will work with you. Especially if you have an payment arrangement and can show proof of that. No you won't be in a bad neighborhood, because of it. It can be a landlord who is in a nice neighborhood that will work with you. Now, with the deposit issue. Most apartments, want you to pay the same as your rent. But some will say from $150 and up, based on your credit. If your credit still good with only that bad thing on there. Your deposit still might not be high. Meaning you wouldn't have to pay the whole deposit. If I was you, sign more then one application, get a person who you lived with, or rented from to write a letter, saying you been paying your rent on time each month. Last, sign an app with the apartments, that has the management in the complex. Instead of signing it with the management, that office is somewhere else. Them the ones that will turn you down, no matter what.
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