How to read Smart Move Credit reports....

[Jason Krawitz]

Good Evening! I'm screening two joint-applicants and having trouble understanding the smart-move credit reports. The applicants are a married-couple, both professionals transferring to Nashville. The applicants scores are 604 (her) and 642 (him). Smart move is suggesting I accept them both. They have great income but several write-offs/un-paid collections on their credit but I can't tell if they are recent or really old. Can anyone help me with a "guide" on how to read this report? Here are the entries I'm confused about. If the account was closed in 2011 but the report date is December of 2014, what does that mean? Does "account closed normally" mean it was paid eventually?

Discover Account – Opened 11/02 – Reported 12/14 – Account closed normally 9/2011 (Charged off as bad debt – 9147 past due) Both Applicants

AMEX – Opened 4/07 – Reported 12/14 – Account closed normally 6/2010 (Charged off as bad debt/cancelled by credit grantor - 8909 past due) Lady Applicant

KOHLS – Opened 12/00 – Reported 3/12 – Account closed normally 6/2010 (Charged off as bad debt – 770 past due) Lady Applicant

WFHM – 120 Days past due Settled – Less than full balance – Opened 6/05 – Reported 10/10 Lady Applicant

They both have good "recent" credit and the male applicant explained some of his bad history was due to divorce etc. Here is my dilema... Not all, but many renters are renting for a reason. If they had perfect credit, they wouldn't rent a house in this price range, they'd likely buy. I've gone from an applicant I declined due to a bankcruptcy and already being 2 months behind on a new car, to an applicany with a credit score over 800 that I accepted and backed out on me at the last minute, now to these folks, with mediocre scores. After meeting them, the subjective factors were strong but I want to make sure I understand this credit report to make an informed decision.

Any help is greatly appreciated! Thank you!