I am a teacher and cannot pay August 1st rent in Rahway

(Request from Danielle in Rahway, New Jersey) My name is Danielle I am 26 and am a teacher. I am in a crisis I did not save enough money this summer and I am negative in my account. I will not be able to pay August 1st rent and I need help desperately. I don’t have good credit so finding a lender has been impossible. I have no family to go to and need help as soon as possible. Is there someone who can call me and we can work something out? Thank you.

Dear Danielle,

Since you are employed and have not experienced a financial emergency, it will be difficult for your case to be prioritized over others who are also being screened. Your income, even as a public school teacher will exceed the grant thresholds by many of the emergency rental assistance and prevention aid programs in Union County and New Jersey.

You can check with nearby social aid organizations like PROCEED to see if there is anything that they can do. Often times they cannot approve funding, but they can help with landlord mediation services, which is actually what I am suggesting you consider as a potential outcome.

Workaround Agreement

Whether you utilized the mediation services offered by some rental aid agencies or negotiate your own outcome, the best approach could be to contact your landlord immediately to discuss the situation. At issue is not necessarily your ability to afford your apartment or rental home. The issue is that you did not save enough over the previous months to cover all of your expenses prior to the school year restarting.

Your landlord will advise whether they are open to an alternate arrangement. One of the best outcomes is for you to be able to split the repayment of August arrears into 2-3 months, so that you would be completely caught up by November. Letting your landlord know now rather than August 5th will be a better option, since they still must make their mortgage payment on the property and/or pay any related costs on-time even if rent is late. Most landlords are more willing to work with you when you lay all of your cards on the table and provide advance notice.

If you feel comfortable you can discuss this directly with your landlord. A set arrears repayment schedule may make them more open to the idea. This is not uncommon, especially with teachers. They know you will be paid, and they know that the arrears will likely be satisfied. If they evict you, they risk lost rental income and court costs.

Having a case manager assist you with a workout arrangement can also be helpful. If PROCEED cannot provide it, then perhaps the local social services agency can assist. Churches also can sometimes help out with this process.

Loan

A loan may be the best option since it could help you avoid late fees and a damaged relationship with your landlord. Your bad credit will preclude you from borrowing money from a bank.

It may be possible to borrow money through a peer lending service. If you do so, just make sure that you investigate each option carefully and steer clear of any predatory products such as payday loans.

If you have at least a 630 credit score, then some credit unions may help. It is worth checking into if you believe you can at least meet their minimum credit standards.