Of the many misconceptions in and around the debt review, this is probably one of the most common ones that pop up.
In today’s post we are going to show you that you absolutely can apply to rent a property if you want to apply for debt review, or if you are already under debt review.
Many consumers who are struggling with debt, especially single parents who are renting, don’t want to apply for formal debt counselling because they believe that once they’re under debt counselling, they will not qualify for rental accommodation.
Estate agents do credit checks, and they will pick up the flag on your credit profile that you are under debt counselling, but this does not disqualify you for applying.
We have many clients who are under debt counselling and are successfully renting apartments and houses through registered estate agents.
I think the misconception that you will not qualify for rental property stems from the fact that many people think you will become blacklisted when you are under debt review.
After doing many consultations over the years, the blacklisting misconception comes from some consumers who are misinformed about the impact or effects that debt review will have on a consumer.
It is true that you cannot make use of any of your current credit facilities such as a credit card or store accounts, and you will not be able to apply for credit, once you are under debt review.
This led many consumers to automatically think that they would be blacklisted, and I believe that this is where the misconception of not being able to qualify for a rental property comes from.