Re: Should I Accept or Reject This Tenant - Posted by Jim Locker
Posted by Jim Locker on June 25, 2001 at 12:49:19:
First of all, a FICO of 591 is pretty good.
Second, R1 means “paid as agreed” - and implies payment on time consistently. It is the best rating.
You are describing the credit report of a responsible person who pays her bills. You are also describing someone who is living on the edge; if she gets laid off for more than a short time, she will be in trouble.
However, that is not your lookout; you simply CANNOT refuse people because of what MIGHT happen. Also, since it is credit card debt, if she does get into trouble, she’ll probably go Chapter 13 and work out a repayment schedule for that debt, while not involving you at all.
If she applied for one of my places, I’d accept her in a heartbeat.