Credit and Credit Reports
questions & answers
Question: When does a foreclosure come off a credit report? Seven years from the date the loan went into foreclosure, from the date of last payment or from the date of the sale at auction?
Answer:
Specifics about the impact of a foreclosure on a credit report are beyond the scope of AZLawHelp as the consumer credit reporting agencies exercise a great deal of control over information about what effects credit reports. However an individual may contact the credit agencies for more information. There are 3 credit bureaus that creditors use to evaluate the credit of a potential borrower: Equifax, Transunion, and Experian. According to information on Transunion's website, 7 years is the amount of time that a foreclosure will remain on a Transunion credit report. http://www.transunion.com/personal-credit/ask-audrey/how-long-does-foreclosure-stay-on-credit-report.page Additionally, consumers are entitled to a free credit report from each bureau every year. The site set up by the government to request the reports is https://www.annualcreditreport.com/index.action (see also http://www.usa.gov/topics/money/credit/credit-reports/bureaus-scoring.shtml) Individuals faced with loss of a home through foreclosure/trustee sale or dealing with issues related to a foreclosure can apply for free and reduced fee legal services through the Access to Justice Online Intake System, the link is also available on the top right of AZLawHelp under the “LegalLEARN” section. Individuals may also contact legal aid directly, however due to high call volume there may be long wait times on the phone and the phone system may disconnect calls when overwhelmed. To find the legal aid agency serving a particular county in Arizona, select the desired county in the drop-down under the section titled “FIND FREE LEGAL HELP” on the right column of AZLawHelp.
QUESTIONS
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When does a foreclosure come off a credit report? Seven years from the date the loan went into foreclosure, from the date of last payment or from the date of the sale at auction?
STORIES
LegalLEARN
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Free & Reduced Fees Legal Aid Resources
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866-637-5341.
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OTHER LEGAL RESOURCES
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State Bar of Arizona
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Maricopa County Bar
www.maricopabar.org
Referral number 602-257-4434 -
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Referral number 520-623-4625 -
National Domestic Violence Hotline
800-799-7233 -
Bankruptcy Court Self Help Center
866-553-0893 -
Certified Legal Document Preparer Program
Link
ORGANIZATIONS
- Catholic Charities - Central & Northern Arizona
View full description - Arizona Corporation Commission
View full description - Community Legal Services - San Luis - Yuma County
View full description - DNA - People's Legal Services - Chinle
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