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Residents: missing rent payment is risky.

SOMETIMES RESIDENTS need a gentle reminder about why paying the rent should be their top priority. Following are several of the ramifications that residents may face if they miss a rent payment:

* Possible eviction from community

* A paper trail record of poor rental history

* Denial of future mortgage or automobile loans or increased interest rates charged due to derogatory item on credit

* Possible "future" rental application approval issues, including a possible increase of security deposit fee

* Account could be sent to a collection agency

* Possible credit-report score dropping for consumer

* Possible additional sums due for interest and default charges as well as attorney's fees if account is sent for legal action

* Possible problems gaining security clearance or having a security clearance revoked (this also applies for government workers, including military)

* Possible denial for application for student loans

* Trouble gaining employment with employers who pull credit report as part of the hiring process

* Possible lowering of credit limits and or increases in interest rates by credit card companies

Source: Hunter Warfield
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Title Annotation:Hiring Trends
Publication:Units
Date:Aug 1, 2010
Words:170
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