Low Credit Score - High Debt - No Late Payments For 4 Years?

[Robert Smith]

I have an applicant who has a credit score of 650, $97,000+ in debt ($53,000+ in credit card debt, and $42,000+ in auto loan debt), but has not been late on a payment in 4 years according to his credit report.

He claims he is working on paying his debt down. My question for experienced landlords, do you typically take a chance on someone with a low credit score if they appear to pay on time, and monthly debt to income is reasonable?