National Credit Systems and IQ Data: Rental Debt Questions

Check the collector and the account

Start with the notice and the account details that came with it. Look up the company’s contact details yourself, and confirm the property, who holds the account, the amount and the dates.

A collector name you recognize doesn’t prove every charge is right. If you don’t understand the balance, ask them to break it down charge by charge. Keep every notice and write down any deadline to respond.

Read a settlement offer before you pay

• Confirm the account and who is allowed to take payment on it.
• Get the agreed amount and due dates in writing.
• Ask what happens if a payment is late or short.
• Ask what the account status and balance will be once you finish paying.
• Ask what paperwork you’ll get when it’s done.

An offer to settle doesn’t mean the account is closed out. Keep your receipts and ask for written proof once you’ve paid what you agreed to.

Paying the debt and finding an apartment are two different choices

Communities treat a finished settlement, a paid account and an unpaid balance differently. We call communities, ask what each one wants and keep notes on the answers. Paying often opens more communities and can remove a risk fee, but not at every community. Some communities take a paid receipt. Others want the account updated on your credit report before they’ll consider you. Don’t assume settling gets you approved or wipes the account off your report.

Get help for disputed or older debt

Do you dispute the account, or have court papers or a question about a lawsuit deadline? Talk to a lawyer or legal aid before you rely on a general guide like this one. We look for apartments based on the account status you give us, and an unpaid balance doesn’t stop us. What we don’t do is negotiate debts for you or tell you if a debt is too old to sue over.

Sources and more help

• CFPB: what a debt collector has to tell you about a debt