Ever wonder why you are having problems finding an apartment in the Dallas/Ft. Worth market with bad credit? Most of the apartment communities have guidelines regarding what type of credit “dings” they will accept. I can work with you if you have rental debt, evictions, foreclosures, bankruptcies and some criminal. We will need to talk to determine where I can place you. This is an example of how long bad debt stays on your credit file:
A foreclosure remains on your credit report for 7 years, but its impact to your FICO® score will lessen over time. While a foreclosure is considered a very negative event by your FICO score, it’s a common misconception that it will ruin your score for a very long time.
A chapter 7 bankruptcy filing remains on your credit report for 10years. Chapter 13 bankruptcy remains for seven years. Under chapter 13 bankruptcy you repay at least a portion of the debt, so it is removed a little sooner.
More Credit Q&A
Chapter 7 & 13:How long will negative information remain on my credit report?
It depends on the type of negative information. Here’s the basic breakdown of how long different types of negative information will remain on your credit report:
Late payments: 7 years
Collections: Generally, about 7 years, depending on the age of the debt being collected.
Public Record: Generally 7 years, although unpaid tax liens can remain indefinitely.
Keep in mind: For all of these negative items, the older they are the less impact they are going to have on your FICO® score. For example, a collection that is 5 years old will hurt much less than a collection that is 5 months old
If you need help – call me at: 972-369-3120 or submit your request for apartment hunting help at: http://www.thepadhunter.com