The mere filing of an eviction has severe consequences that can impact your life negatively for decades.
Most people eventually understand how an evictin impacts your FICO score.
What Happens To Your Credit When You Get Evicted? | Credit.com
It's important to know that just receiving an eviction notice isn't what puts it on your credit report. An unlawful detainer must be filed in court. The property manager has to obtain an eviction judgment from local small claims or civil court.
Once the judge has ruled in favor of the property manager and the judgment is final, the three major credit bureaus will receive notices of the eviction and add it to the your credit report in the form of a public record.
How will an eviction affect my credit? Evictions that go to court and are filed as judgments against you are treated as public records on a credit report. A public record stays on your credit for up to seven years from the date it's filed, and it won't be removed early in many cases.
It can have several affects on your credit and your life in general:
It'll ding your credit score. This is the most obvious affect. You can simulate how several different types of public records can affect your credit score with the many Credit Simulators available online!
It'll hurt your chances at a job. Though not all do, an employer can check potential job candidates' credit reports. A public record on your credit report can be a red flag for some employers. But there are ways you can prepare yourself if you're on the job hunt and you're worried about a black mark on your report.
Here's the worst thing an evcition filmg means. It'll make it very hard for you to rent again. It might be decades before you can rent DECENT housing. It's not impossible, but finding a new apartment with an eviction under your belt can be tough.
If you ever plan to buy a home, that's going to require work, too.
Here are a few tips to help:
Start improving your credit health immediately.
Use a rental brokerage service. Explain your situation to them and see if they can help you find an apartment without a background or credit check.
Be willing to compromise. Offer to pay a higher security deposit and definitely be ready to explain any helpful circumstances of your eviction.
Bottom Line: No one should have to tell you to avoid an eviction at all costs, as that much is too obvious and unhelpful if you already have one on your credit report.
The hope is that you need to better understand how this sticky situation can devestate your life going forward.
You can turn things around for the better.
It won't be easy, and it can take decades.
Good luck!
