Credit Background Checks when Renting in Ecuador?

ActionMgtGuest07 April 2013 14:01:23

My husband and I made some bad investments in real estate and when the economy tanked we owned 4 houses and 8 condos. They soon became upside down on their mortgages. A year later, our property management company lost it's only client, a 216 unit condominium that we had been managing for 15 years. I was forced to file a Chapter 7 Bankruptcy, and he never did file - he just has bad credit. We have several foreclosures on our credit report and my bankruptcy. I was wondering if they do background checks in Ecuador to determine your credit score or credit background? We are excellent payers and are now living on Social Security as our only income, and have gotten two car loans since my bankruptcy, but was wondering if we would have any trouble renting because of this? thanks!

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Tameee New member

Member since 19 March 2013

TameeeNew member07 April 2013 18:48:15

I have never heard of that since I have been here. Their only concern is that you pay on time. The atmosphere is completely different here; somethings are not that important.

I must say though that I have only rented from Ecuatorians and I am not sure about renting from Americans.

ActionMgt Guest

ActionMgtGuest07 April 2013 19:18:33

Paying on time has never been a problem. In fact, on my car payments, I always pay two weeks early. Add to the credit problem is the fact that we have two little darling Chihuahuas who think they are our kids - 4 lbs and 6 lbs - and come with dresses and strollers, etc. Do you think they would create a problem?

Mermaid-57 Member

Member since 27 March 2013

Mermaid-57Member07 April 2013 20:42:53

I am currently living in Bahia, renting a little house for 5 months but will be moving to an apartment soon but have never heard of anyone doing a credit check here.I honestly don't think that it's ever done here.They do always ask for a deposit which is equal to a months rent.I would caution you that it is very difficult, if not impossible to get your deposit back when you move.The best way to get around that is not to pay your last month's rent. I have had a lot of friends tell me this and it works.

Which part of Ecuador do you have in mind?

ActionMgt Guest

ActionMgtGuest07 April 2013 23:30:24

Thanks so much for the info - that is great news!

We haven't totally settled on Ecuador yet - still going back and forth between Europe (France or Spain) and the Americas (Ecuador, Panama, Belize, Costa Rica, Nicaragua, etc)... but if we pick Ecuador, which is # 2 on the list, it will probably be Vilcabamba.
I'm afraid of Cuenca and Quito because I was a long term smoker and am afraid the altitude may affect me.

I love living by the water but was told the seaside areas were too hot and steamy and unsafe. Clue me in please if that is not true, as I'd much prefer the beach life to the mountains, any day!!! Right now we are in Cape Coral, FL at the intersection of 5 canals.
I love the wildlife here. The birds are awesome. We have turtles, otter, pelicans, etc. Even an alligator moses on by about once every six months or so.

Can I ask how much you had to pay to rent your house and what it looked like? Did you find it cheap to live there? Do you have a budget? I'd love to know what it is if you feel like sharing.. we will have $2150 a month coming in. IS that enough?
Thanks so much for your help!
Judy