Is it better to apply now or in a couple months for an apartment with declining credit?

I am in the process of settling my credit cards. Thus, they are all behind by a few months (none more than 60 days at this point). I have reached a deal with one of them so that one will go away in a week or two, but it's one of the smaller balances. I'll have about $7900 or so in credit card debt that will be behind at that point (right now it's about $8600). I do have a car loan at a credit union that is current, student loans are current, it's only the credit cards that are behind. My question is this, I'll be applying for a new apartment in the next few months (5 months max). It's not a highrise apartment in a big city, it's a one bedroom that goes for 400 a month. I make about 37k a year, and have solid renting history for around 7 years. Would I be better off applying now with the credit cards only a little behind, or should I wait a month or two and maybe have a bit of that balance knocked off at the expense of the yet-unsettled ones being even more behind? I Know this is a crappy time to be looking for an apartment while doing the somewhat messy credit card settlement process but my lease is up at the latest in October and I absolutely can't afford this current apartment after then (roommate leaving).

6 months ago - 1 answers