What Happens to My Credit Score If I Get Evicted?
Going through an eviction can make your life very difficult. Not only do you lose your home, but you may also find your credit affected, making it hard to get another apartment. A report of your eviction can find its way to the credit reporting bureaus in a couple of different ways, and it may have a negative effect on your credit score.
Reporting
Major property management companies usually have regular reporting arrangements with the major credit bureaus. If you were renting from a smaller landlord -- an individual with one or two units -- he is less likely to have a direct relationship with the credit bureaus. However, there are online services that offer individual landlords the opportunity to notify bureaus about an eviction for a small fee. In addition, your eviction will become a public record through the courts, and will eventually be picked up by the bureaus this way.
Credit Score
There is no set points value for an eviction on your credit report. If the judgment was for possession of the property only, this will have less effect than a court judgment that included a monetary damage award. The effect on your score depends on the state of your credit before the event -- the better it was, the more it will fall. If your landlord decides to send your unpaid rent bill to a collections agency, expect a much more negative effect on your credit score.
Length of Record
The report of an eviction remains on your credit report for seven years before it is deleted. While your credit score should improve over time with financial responsibility, the record of a prior eviction could still put off potential landlords who check your credit report -- even if it was some time ago. If you apply for a mortgage in the future, the record of an eviction on your credit report could affect your prospects of a good rate.
Mitigating Circumstances
If you feel there were mitigating circumstances to the eviction, or if you believe it is on your report in error, you have a couple of options. You can dispute the record by writing to the credit bureaus. Each credit bureau provides a dispute procedure on its website. You also have the right to write a 100-word explanation of the circumstances surrounding the eviction and submit it to the bureaus. They are then obligated to forward this explanation to anyone who requests your report in future.
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