Eviction and How it Affects You

how eviction affects credit

Join Date Dec 2006 Posts 24

Eviction and How it Affects You

Would a letter like this to my tenants help?

Dear Tenant,

As you know, your account is now or soon will be in “Eviction Status”. It’s possible that you may not know about or understand the ramifications of what it means to be the subject of an eviction proceeding. Below is a list of easy to understand consequences a person will face as a result of a legal eviction:

1. Eviction Court. This can be a humiliating experience and also matter of permanent public record.

2. Dispossession. You will be forcibly removed from the premises. This can be a humiliating experience and also matter of permanent public record.

3. Judgment

(s). Your credit rating will be severely damaged. This may also result in

• A collection process until your debt is paid in full

• Possible seizure of assets you may own, including bank accounts

• Garnishment of wages

• Notification of credit bureaus causing inability to qualify for lines of credit, including credit cards, car loans and mortgages.

• Notification of National Tenant Reporting Services causing inability to qualify for rental housing (Most quality rentals require credit & tenant screening)

We understand that you are having difficulties paying your rent or complying with your lease agreement. We sincerely hope you will be able to resolve any problems you are currently experiencing and bring your account out of eviction status.

Sincerely.

Source: www.expertlaw.com

Category: Credit

Similar articles: