5 Proven Steps to Remove EVICTIONS from Credit Reports

Hey, credit heroes. Dealing with an eviction can be really, really scary, especially when it lands on your credit report. And the number of evictions continues to rise every year. That's why today I'm going to explain exactly how evictions impact your credit score and how you can remove them. So you better stick around.

So the big question is this. How can we take our passion for helping people with their credit and turn it into a successful business without taking loans? Spending a fortune by bootstrapping it from nothing so we can help the most people and still become highly profitable? That is the question and this podcast will give you the answer. My name is Daniel Rosen and welcome to Credit Repair Business Secrets.

If this is your first time listening to my podcast, every week I give credit repair tips and advice on bootstrapping your business from nothing. So. So be sure to click subscribe now and get ready to start changing lives. Okay, let's get into this. Going through an eviction is a very stressful process, even without considering the impact on your credit score. Have you ever been evicted or threatened with an eviction?

I have.

And it was so terrible and so embarrassing. And I didn't even get evicted because I did anything wrong. I was a great tenant. I paid my rent on time. I. I fixed my own stuff and I left my landlord alone. But my landlord was really, really mean and he evicted me so that he could raise the rent. It was terrible. We went to court and I thought I had a great case. But then he said all this terrible stuff about me that wasn't true and I lost. And suddenly I had to move everything and find a new place to live. Getting evicted sucks. It's a horrible process for everyone involved and it leaves the evicted person in the very diffic of trying to find new housing with an eviction mark on their record. Here's how this relates to us. Evictions have been a problem for a really long time. Even before the pandemic, things were bad with about 7.6 million people being evicted each year from 2007 to 2016. But now things are even worse. Eviction rates are more than 50% higher than the pre pandemic average in a lot of cities. And if you have a kid, your chance of being evicted is even higher, which is really scary for a lot of families out there. The eviction rate for people living with a child is over 10%, more than double the risk for those without kids. Additionally, ever increasing costs of things like groceries and childcare, plus reduced working hours or discrimination from landlords all contributes to this. And everyone is impacted by the skyrocketing rents, affordable housing, housing shortage and high inflation rates, which make evictions even more of a threat. Here's the thing to remember. Evictions can be tricky when it comes to credit repair. But understanding how they impact your credit and how to bounce back from them is key. Now, I say tricky because evictions usually won't show up on your credit report at all, but they typically stay on public records for up to seven years. So even though evictions might not show up on your credit report directly, the stuff that happens because of the eviction can still give your credit a bit of a hit. And here's why this is important. There are a lot of reasons why someone can get evicted. Everything from the tenant breaking the lease agreement to the owner wanting to use the property personally, which is how I got evicted. And while most evictions can make it harder to find another place to live, they shouldn't impact your credit score. But if someone is evicted because they didn't pay their rent and now they have a collection account open, their credit reports will have a derogatory mark for that collection. And that can stay on their credit report for up to seven years. So that collection account will negatively impact your credit score. Beyond credit, if a legal case is brought up to evict a tenant, that case file can be accessed indefinitely through the court records. While evictions may not hit credit reports head on, they still leave a mark on your credit. They can drag down your credit score, hike up your interest rates, and stain your public record, making finding rental housing very, very difficult in the future. Here's what you need to know. Even though it's not always possible, the best thing you can do is to try to avoid the eviction altogether. With that being said, if you've been evicted for something besides non payment of rent, your credit won't be affected. Just be sure to explain the situation to your next landlord and expect to pay slightly higher rent. Now, if you're being evicted for non payment of rent and you are still in the process, you want to try to do everything in your power to fix the problem before going to court. I wish I had known this when I was evicted, because that's on my record forever. Seriously, settle, pay back the rent, work with the landlord to come to a solution. Do anything that doesn't involve the courts. Wrongful evictions do happen, and you should consider pursuing legal action in court if that happens. The CFPB outlines a whole list of renter Protection Resources on its website now. If you or your client has been evicted because of non payment of rent and that debt went to collections and here are five steps you can follow to remove that from your credit report. 1. Attempt to repay or settle the debt. Negotiate with the property manager, landlord or collection agency and determine a sum or payment plan 2. Work out ahead of time in writing that once the debt is settled or paid off that any collection accounts will be removed from the credit reports 3. Ask to have the eviction records removed from the tenant screening reports as a condition of repayment 4. Verify that the items related to the eviction have indeed been removed from the credit report and the tenant screening report and five Dispute any inaccuracies related to the eviction with the credit bureaus and the tenant screening agencies. If handled correctly, evictions can be avoided, but when circumstances cause them to be unavoidable, you can still ensure that the impact is minimal instead of devastating. Here's my final point. Evictions are a very stressful thing that happens to so many people. They can be unfair and they can make it hard to find your next home. As eviction rates continue to rise, we have to be prepared to help a whole lot of people. And now for my favorite part of the episode. Every week I feature one of our credit heroes inside our Credit Repair Cloud Facebook community so that you can see firsthand what real people are doing as they run and grow their business. And today's spotlight is on Aaron Burger. Aaron shared some awesome news in our community saying a great milestone, first of many paid clients excited and motivated for a prosperous future. Congratulations Aaron. Getting your first paid client feels so good and it is a huge milestone. I can't wait to see you change a ton of lives. And I'll end by saying if you still need a credit repair cloud account, check it out. It's the software that most credit repair businesses in America run on. Just sign up for a 30 day free trial at creditrepaircloud.com freetrial. And if you'd like to change lives and grow your very own credit repair business, check out our Credit Hero Challenge. It's a live experience that has helped tons of credit heroes to get certified in disputing and gain confidence as they run their credit repair business on a solid foundation so they can change a whole lot of lives and make a great living in the process. We're starting the next challenge very soon, so you want to join before the doors close or you're going to have a long wait until the next one. So sign up right now@creditherochallenge.com if you're finding value in the things that I share on this podcast, click below to subscribe and follow. Also, give me a five star review or share the show and help me to change more lives. If you'd like to read the show notes, they're posted on my blog. If you have a question or a comment, drop it down below because I read each and every one of them. I would love to hear from you and I'll respond as soon as I can. So take care Credit Hero and keep changing lives.

Hey everybody, it's Daniel again, and really quick. I'd like to invite you to join what I believe is the best thing we have ever created inside the Credit Repair cloud community. And it is a challenge that we call the Credit Hero Challenge. If you're just planning out your business or you're just getting it started and you dream of having a successful business of your own, so so you can quit your 9 to 5 and fire your boss and have financial freedom or so you can add another revenue stream to your existing business. If that's your dream, you need to get into this challenge. We created this challenge to help you to create and launch your very own Credit repair business to build a proper foundation for a really successful business. This challenge is going to help you to understand the strategy, the tactics and all the things you need to be successful at Credit Repair. It really is the greatest thing we have ever built and it will change your life. So I recommend you do it right now. Stop everything, pause this audio, go online and go to creditherochallenge.com that's creditherochallenge.com and join the next challenge. And there's a challenge that's starting in just a few days. So go get started right now@creditherochallenge.com.