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Location: Stuck on the East Coast, hoping to head West
4,640 posts, read 11,930,296 times
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Quote:
Originally Posted by TakamuraTakeshi
Not trying to twist. Trying to understand and learn thus think of my options since I was blindsided. If I'm screwed I'm screwed but I'm going to see what I can do.
Thank you for everything else. Only 3 months left on lease so here is hoping I can pay my lease in advance or get them to agree in writing that my name will remain on the lease so I am liable for damages or non-payments from her and my current roommate.
Just a thought, but the landlord can't collect money twice for the same space. There are scams where the LL will tell you they couldn't find another renter, even though they have, and attempt to collect rent from both of you. In other words, if you are still paying rent, keep the key, visit frequently to make sure no one else is in your space...despite having a roommate already there.
Also, if the gf can stay on property, she could reimburse you. I would do this as a last resort.
Someone else has done a good job of addressing your problem so I'm not going to get into it, short answer is you are screwed. Try talking to them on Monday and see if they will change their mind though.
Quote:
Originally Posted by TakamuraTakeshi
She has a lower 600 credit score due to a 6k student loan
You don't get a bad credit score just because you have student loan debt, $6k at 6% over 10 years is only $67. You get a low score because you don't make payments on time. Student loans aren't included in the debt to limit ratio because they aren't revolving debt so the best comparison to them is an auto or home loan. Having those doesn't bring your score down just for having them. Pay on time and open some credit cards, keeping their usage under 25% of their limit, and your score will go up quickly.
Someone else has done a good job of addressing your problem so I'm not going to get into it, short answer is you are screwed. Try talking to them on Monday and see if they will change their mind though.
Change their mind about what? Accepting her as my replacement?
Someone else has done a good job of addressing your problem so I'm not going to get into it, short answer is you are screwed. Try talking to them on Monday and see if they will change their mind though.
You don't get a bad credit score just because you have student loan debt, $6k at 6% over 10 years is only $67. You get a low score because you don't make payments on time. Student loans aren't included in the debt to limit ratio because they aren't revolving debt so the best comparison to them is an auto or home loan. Having those doesn't bring your score down just for having them. Pay on time and open some credit cards, keeping their usage under 25% of their limit, and your score will go up quickly.
On the flip side, not paying student loan debt is in vogue for some reason. My newest tenant has a horrendous FICO score yet when I did a full credit pull, the vast majority was due to non-payment of student loans. He was paying the other bills.
For the millenials on this forum and other posters, why is student loan debt the absolute last debt to get paid? Is it because it doesn't impact your ability to consume/live/drive/etc?
My parents were cosigners on some of my loans. When I was furloughed after 9/11, I immediately applied for deferment. After I was employed again, I prioritized those loans and was finally able to pay them off at 35 years of age.
Am I wrong in assuming that most student loans have cosigners? If not, why would you leave your folks holding the bag? Doesn't that make for awkward Xmas gatherings?
For the millenials on this forum and other posters, why is student loan debt the absolute last debt to get paid? Is it because it doesn't impact your ability to consume/live/drive/etc?
My parents were cosigners on some of my loans. When I was furloughed after 9/11, I immediately applied for deferment. After I was employed again, I prioritized those loans and was finally able to pay them off at 35 years of age.
Am I wrong in assuming that most student loans have cosigners? If not, why would you leave your folks holding the bag? Doesn't that make for awkward Xmas gatherings?
I would say most people did not have cosigners. Usually students only need their parents to cosign if they are getting non-federal student loans. And, if you are getting a non-federal student loan, you probably should wait to go to school because you will never get out of that debt
My student loan payment is set on autodraft. I don't even think about it. It is on a graduated plan and it increases every two years. They send me an email telling me what it is increasing to. Never missed a payment. Of course, when I graduated, I only had about $22K in debt, which is pretty low compared to many people. Especially because that was 5 years at university, no community college or anything.
My step brother, on the other hand, is an idiot. (He is younger and didn't listen to me.) He took out Sallie Mae loans in the beginning, and my step dad co-signed for them. He later realized how costly they were and began taking out federal loans for the remainder of his education. However, it took him EIGHT* years to graduate with a worthless degree in sports nutrition from a low ranking college. He lived on campus for the majority of the time, too, despite it only being a 30-40 minute commute. He has just shy of $100K in student loan debt. Because he cannot afford the payments, he keeps getting them deferred. He won't even take a decent job because he knows he will have to pay more and he cannot afford it (the entire increase would have to go to the loans). He did work at a grocery store and now he drives a city bus, lol. As I said, he is an idiot. He wishes he had listened to me.
*I don't knock people for taking longer to graduate. Just him, lol. It took me five years, but I also worked full time and took 6 classes that I didn't need because my advisor told me I did need them. He didn't work during the school year. He did seasonal summer work only. He failed several classes. Ridiculous since school was his only focus. Of course, he chose to focus on sitting on the couch smoking weed more than his actual studies.
I'........Hopefully they take my situation into account and allow me to vouch for her. .........
The only way you can "vouch" for her is to sign on as her cosigner. Do you really want to make yourself legally liable for her bills?
Although, you are already legally liable for your rent even if she lives for free in the apartment that you vacated.
Just a word of warning, as long as you are on the lease, you are not free from obligation when the lease term ends. You are in the hook until that apartment is returned to the landlord vacant. Leases have conditions for continuing occupancy automatically and your obligation is going to continue automatically.
You need to talk to your landlord and see if you can work something out, but be aware, your landlord is in no way responsible for roommate politics, which is what your problem is. You and the roommate are both responsible for the rent, and your roommate has chosen to break the rules, dragging you along with him. Not your landlord's problem, but maybe the landlord will work something out with you. Do not expect to get out of this for free.
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