How much will my credit drop after this hits? PLEASE HELP!

[Sabrian31487]

Hey all, I am so sick to my stomach over this. I have been great with my credit and it shows because i am at 700+ fico on all reports. Always pay my credit cards on time and everything. Well a year ago me and my partner serperated and left an apartment complex that had certain damage (Not going to deny it, we did have some damages in the apartment). Well a week ago i received notice in the mail that the apartment complex sent us to a collection agency and they are charging me 4500.00 in apartment damages (Which im going to dispute because there is in no way 4500.00 in damages). My questions is how many point's is this going to take as it is my only bad thing on my credit (Besides a lot of inquiries). When we moved out they did know about it and were going to do a walk through inspection and never did. PLEASE CALM ME DOWN!!!! Will Banks start to close my credit accounts for this ding or is it unlikely as long as i have a good relationship with them?

Thanks for all answers

[surferchris]

Sorry to hear about your issue.  I would think you would lose at least 50 points (certainly you will be below 700).  Of course this is just my opinion, so I wouldn't give it much credence...

[Anonymous]

Did you take pictures of the apartment when you moved in and when you moved out. I always do and save them on a memory stick for reasons like this.

I don't thinks banks will start to close accounts but you could see cl decreases and or have a difficult time getting new credit for a while.

If you're going to be looking for a new apartment this could be brought up during the credit check.

Most states say there is basic wear and tare expected when living in an apartment. Also did you get your deposit back? I would want to see a list of damages and cost to fix them to make sure some of them were not basic wear and tare.

[Sabrian31487]

No pictures taken, Did not get 500.00 pet deposit or 750 security deposit back. When we moved in the person who did the lease with us said the carpets were not new and would need to be replaced in 5 years and we lived there for 3 years. There is new management there though so they will probably deny that statement

[Momof5]

This is a 'lessons learned' experience for you.  NEVER move out of a rental w/o pictures and a walkthrough with the Landlord!

Unfortunately, your hit could easily be 100 pts.  DH lost that many for a $3500 Apt CA.  Have offered PFD and it is a no go so he has to wait for it to age off.

[surferchris]

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@Momof5 wrote:

This is a 'lessons learned' experience for you.  NEVER move out of a rental w/o pictures and a walkthrough with the Landlord!

Unfortunately, your hit could easily be 100 pts.  DH lost that many for a $3500 Apt CA.  Have offered PFD and it is a no go so he has to wait for it to age off.

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Agreed.

[gdale6]

OP if this is a new collection I would be calling the CA and arranging payment in exchange for it NOT reporting. Without pictures or a signed move out walk thru you have no leg to stand on. Good luck

[Anonymous]

That amount is pretty high though. I would want to see a list of things th hat had to be done to the place. Make sure both of your deposits are applied. Subtract any basic wear and tare like nail hole patching. Paint. Carpet shampooing.
You don't have picture but they don't either. At least not of the condition when you moved in. Ask to see them. Because this is a new manager and 99% of the time they don't have or make them.

[Anonymous]

And see if the OC can call it back from the collection agency so you could work something out