What To Do If You Are Going To Be Late On Your Rent
Sometimes you may need to take out an emergency cash loan or a guaranteed approval loan to pay your late rent. If you are going to be late with your rent and need an emergency cash loan to make ends meet, the best thing to do is to tell your landlord that your rental payment will be late and that you are taking steps to obtain emergency cash or payday loan. Whether it is taking out a loan to pay your rent, borrowing from family members to pay your rent, or getting rental assistance from a charity that helps people pay their rent, you should let her know your plan to get her money to her as quickly as possible.
Times are hard and late rent payments are no longer an exception to the rule. In the economic downturn, people are doing all they can to make ends meet. Bad credit plagues our society and many of it is because people don't have the means to pay, not because they don't want to pay.
It is not compulsary for you to give your landlord a letter in writing telling him that your rent is going to be late, but you should do it for several reasons. The first is that it provides a paper trail and proves that you are at least communicating with your landlord about you specific situation and giving concrete dates as to when you will pay your late rent. Second, it establishes your credibility with your landlord because you have shown a sign of good faith and good character. You also have a written reminder to yourself of the promise you have made. Know that if you fail to follow the terms of the letter, the landlord can use the letter against you as a part of the eviction process. However, if your intentions are good and you intend on paying your late rent, then that should not matter.
You may want to look into several options to pay your rent, such as a payday loan, a bad credit personal loan or a no credit personal loan. A no cosigner personal loan is also another option as well as guaranteed loans of all sort that you can get even if you have bad credit. These are great options if you are working and have a steady income to pay it back. It is not a good idea for you to do this if you do not have a steady income to pay these credit loans back.
If you lost your job, there are other sources that can help you pay your rent until while you work to get back on your feet. However, also have the pay day loan, no cosigner personal loans and no credit personal loans in your mind as a valid last option. You may have to work twice as hard to find a job before you can get them, but you only have to be at the job for 3 months to qualify for some of these no credit loans.
Sample Letter To Landlord About Late Payment and Promise To Pay
Date (dd/mm/yyyy): _____________________
Your Name: _________________________
Your Rental Address:
Dear: Landlord's Name
First, I'd like to apologize for the fact that my rent, which was due on__________ is as of this point, late. I know and respect that you need the rent on or before the due day to keep your operation running smoothly and for my tardiness, I am truly sorry.
Due to a medical condition and my having to stay in the hospital for 2 weeks, I fell behind on all my bills. I am now working very hard to come in compliance and bring all my creditors current. I have borrowed money from my family members and I will be taking out a personal loan to bring all my accounts up to day.
I plan to have the full amount of $_____________, which was due on _______________, to you by ___________________.
Please accept my humble apologies for my tardiness. As you know, I have always been current on my rent and this is not something that will be a regular occurrence. I hope this arrangement is satisfactory to you and I hope my tardiness has not caused you any adverse reactions.
If necessary I will take out a pay day cash loan until the guaranteed approval loan that I applied for is ready in order to make sure I get my account up to date by the date specified. I love living here, and I will do all that I can to make sure my home remains secure.
Tenant's Name Signed
Tenant's Name Written: _______________________
Make sure you actually take the steps to get an emergency cash loan, work more hours, borrow money from your family or take out a payday or no credit loan to get yourself up to date on your rent payments.