How landlords weigh your credit history when deciding whether to rent to you

I recently paid off a large amount of credit card debt: over $15,000 in total to several credit card companies. How long does it take for myto reflect that? I will be moving into an apartment in the next month or two. I don’t want my application to be denied because my debt is still listed on my credit report. I live with my father right now as he needs 24-hour care, but in the near future he will need to move into a nursing home as he has advanced dementia.

High debt levels relative to your income could be a concern for landlords. Typically, though, they’re looking for bigger red flags such as late payments and collections that indicate you don’t pay on time.Many landlords use credit scores as an initial way to evaluate applicants, followed by a closer look at applicants’ credit reports. If you maintain good scores and have no negative marks, you should be seen as a good candidate.My wife and I recently retired.

If your portfolio is lagging behind this benchmark, then ask the planner what changes can be made to improve your investment performance. Switching from actively managed investments to passive ones, such as index mutual funds or index exchange traded funds, could save on costs and improve performance because few actively managed investments manage to beat the market.

If your portfolio is performing appropriately relative to its benchmark, then discuss whether you want to take on more risk for better returns. Many planners recommend retirees have a substantial portion of their portfolios in stocks for inflation-beating growth. Your certified financial planner should be open to this discussion and ready to course correct if necessary. If you find that’s not the case, then it may be time not just for a second opinion but for a new advisor.My recently divorced girlfriend receives Social Security based on her ex-husband, who is still living.

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