Low credit score realistic options

Advice/Question

Context: my credit score has dropped due to some poor financial decisions over the last 3 years and it is unfortunately sitting at 598. I have not been sent to collections or in default or have any negative reporting on my credit check, just have 3 credit cards that were maxed out so accumulated a lot of debt and only making minimum payments for awhile causing it to drop significantly.

I have lived in my apartment for 4 years with a roommate and she is moving in with her partner so if I want to stay in my current place with a new roommate, I will be treated like a new applicant and obviously have a credit check ran. My current apartment will only accept personal guarantors and I unfortunately don’t have someone who meets the 80x requirement for that. I have started to look at other apartments and I understand from this group my options essentially are find a place that takes third party guarantors or sublease from someone.

My question is: realistically how likely am I to actually find a place that will accept me even with a third party guarantor and that credit score? I have money in my savings, essentially 4x my anticipated monthly rent so hoping that is helpful as well when being reviewed. Is the third party guarantor really enough to satisfy them or would finding a personal guarantor be better? overall just concerned with being homeless because I won’t find anywhere.

Posted May 5, 2025, 2:16 AM UTC

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