Felony convictions can have a tremendous impact on a person's credit report
Felony convictions can have a tremendous impact on a person's credit rating
Most criminal records, such as information about indictments and arrests, may be reported
for up to 7 years. However, records of criminal convictions may be reported indefinitely.
What is important to know is, that even though the law states that records are to be
deleted after 7 years, if you apply for credit or life insurance in excess of $150,000 or if you
apply for a job that pays an annual income of $75,000 or more, negative information may
still be reported beyond the 7 year limit.
Most criminal records, such as information about indictments and arrests, may be reported
for up to 7 years. However, records of criminal convictions may be reported indefinitely.
What is important to know is, that even though the law states that records are to be
deleted after 7 years, if you apply for credit or life insurance in excess of $150,000 or if you
apply for a job that pays an annual income of $75,000 or more, negative information may
still be reported beyond the 7 year limit.
The 7 years start from the date of
'last activity'.
Keep in mind that a credit report is a
record of your past. It is used by
interested parties as a measure of a
person’s credit worthiness and
personal character.
If you have a criminal conviction, you
cannot run from it. Facing it head on
and putting it behind you and
rebuilding your character over again
is the best you can do.
It is a tough situation, but it is one
that can be overcome with time and
your personal actions of good works.
'last activity'.
Keep in mind that a credit report is a
record of your past. It is used by
interested parties as a measure of a
person’s credit worthiness and
personal character.
If you have a criminal conviction, you
cannot run from it. Facing it head on
and putting it behind you and
rebuilding your character over again
is the best you can do.
It is a tough situation, but it is one
that can be overcome with time and
your personal actions of good works.
Debt Solutions to help you improve your credit score!
Debt Credit Learning Center
Re-building a good credit record is exactly like re-building a good reputation.
Be honest and sincere with the people you come in contact with and present them with your
best. If you get declined for credit or turned down for a job, move on and keep fighting to
improving yourself and adding to your good reputation and good credit record.
It is essential that you create a good relationship with your bank by maintaining a checking
account, savings account and a money market account. Keep them all in good standing.
Take it one day at a time and it will eventually work out. All in good time.
Be honest and sincere with the people you come in contact with and present them with your
best. If you get declined for credit or turned down for a job, move on and keep fighting to
improving yourself and adding to your good reputation and good credit record.
It is essential that you create a good relationship with your bank by maintaining a checking
account, savings account and a money market account. Keep them all in good standing.
Take it one day at a time and it will eventually work out. All in good time.