Does a Criminal Record Impact Your Credit Score?
Having a criminal record can have serious consequences on various aspects of your life, including employment, housing, and financial stability. One common question many people with a criminal record ask is whether their credit score will be affected.
This article will explore the relationship between criminal records and credit scores, and how an Arizona Expungement Lawyer can help.
Why is My Credit Score so Important?
Before we dive into the impact of criminal records on credit scores, it’s important to understand what a credit score is and how it’s calculated. A credit score is a numerical representation of your creditworthiness and financial stability.
Your credit score is based on various factors, such as your payment history, credit utilization, length of credit history, types of credit accounts, and recent credit inquiries.
Lenders and other financial institutions use your credit score to assess the risk of lending you money or offering you credit. A high credit score indicates a low risk of default, while a low credit score indicates a high risk of default.
As a result, a low credit score may make it harder to obtain credit, and you may be charged higher interest rates and fees.
The Connection between Criminal Records and Credit Scores
A criminal record may or may not have an impact on your credit score, depending on various factors. In general, criminal records do not directly affect your credit score, as they are not reported to credit bureaus.
However, if a criminal record leads to financial problems, such as outstanding debts or bankruptcy, this may have an indirect impact on your credit score.
For example, if you have a criminal record that results in a lawsuit or court-ordered payment, this can lead to a judgment against you.
A judgment is a legal decision that states you owe a certain amount of money, and if you do not pay it, the judgment may be recorded on your credit report.
Judgments can have a significant impact on your credit score, as they remain on your credit report for seven years, possibly longer.
Additionally, if you have a criminal record that results in a bankruptcy filing, this can also have a significant impact on your credit score.
Bankruptcy is a legal process that allows you to discharge or reorganize your debts, but it also stays on your credit report for seven to ten years.
During this time, your credit score will likely be negatively impacted.
How an Arizona Expungement Lawyer Can Help
If your criminal record is affecting your credit score, an Arizona Expungement Lawyer can help. An Expungement Lawyer can assist you in having your criminal record sealed or expunged.
This means that your criminal record will no longer be accessible to the public and will not be considered in background checks. As a result, the negative impact of your criminal record on your credit score may be reduced or eliminated.
Expungement is a legal process that requires a petition to be filed in court, and it can be a complex process that involves various steps and deadlines.
An experienced Arizona Expungement Lawyer can guide you through the process, help you understand the requirements and eligibility, and assist you in preparing the necessary paperwork.
With the help of an Expungement Lawyer, you may be able to have your criminal record sealed or expunged and improve your credit score.
A criminal record can have an indirect impact on your credit score if it leads to financial problems, such as outstanding debts or bankruptcy. However, if your criminal record is affecting your credit score, an Arizona Expungement Lawyer can help.
An Expungement Lawyer can assist you in having your criminal record sealed or expunged, which can reduce or eliminate the negative impact on your credit score.
With the help of an Expungement Lawyer, you can take steps to improve your financial stability and rebuild your credit.
How do I Begin the Process of Sealing my Criminal Record in Arizona?
To begin the process of sealing a criminal record in Arizona, individuals should contact an experienced criminal defense attorney for guidance and assistance. You can also begin by taking our Free Eligibility Survey Here.
Start With Your Free 5-Minute Eligibility Survey
Take our free online eligibility test to find out what choices are available for your specific Arizona case and get started in the right direction to getting your rights back!