07/09/2021
Let’s talk about EVICTIONS and JUDGMENTS! If you are wanting to lease an apartment, duplex, or home make sure you take care of any money judgments on your credit report. If a landlord has filed a judgment against you, it can legally remain on your credit for 7 years from the filing date. It’s standard for landlords to verify your eviction history (through a tenant screening company) and your credit history during the screening process and now due to effects of Covid, they are hardly making ANY exceptions. If a recent judgment has been filed against you for non-payment of rent, here are some steps that you can take to get them paid off:
1. Contact your old landlord(s). Find them, their representative, or their attorney. Get all the information you need about what is owed. Running from it will get you nowhere and you won’t even be able to purchase a home with this on your credit.
2. Ask for a settlement amount. Depending on the landlord and how old the debt is, they may settle with you. When you pay the settlement amount, get a written receipt.
3. Negotiate payment arrangements. If payment arrangements are negotiated, make sure you get the agreement in WRITING and keep receipts of those payments! Some landlords will approve your application if you can prove that you have made at least 3-6 payments toward a judgment from a previous landlord.
4. Pay the amount owed in full. If you pay the debt off, make sure you get a WRITTEN RECEIPT. You can use this document for your new lease and submit it to the 3 major credit agencies to clear your credit.
Be proactive and pay what you owe! Most landlords will not approve your application with judgments and evictions. Unfortunately, due to the effects of Covid, it has gotten worse for applicants. If you have any questions or need help leasing, buying, or selling your home, contact our team at Realty Solutions. We are here to help!