As a felony conviction, it is natural to worry about one’s credit score because of one’s criminal history. An individual who was earlier incarcerated could harbor complaints and believe that his criminal record has affected his credit score. However, the truth is that the credit score of a felony conviction is solely depends on the credit history.
What affects the credit score?
There is only one way that being sentenced affects your credit score. That is defaulting on your payments when you serve a sentence.
That’s because even as you serve, your loans, car insurance, and phone bills still need to be paid.
In case you are unable to pay your bills when in prison, your credit score will reduce. Paying your bills on time, after all, is an important tenet of maintaining a good credit score.
Even if a stint in prison has affected your credit score negatively, you can build it back upon completing your sentence.
Will a misdemeanor have any effect on credit score?
A misdemeanor is vastly defined as a non-violent felony and stands to be a minor crime. It does not affect your credit score.
Top examples of misdemeanors include theft, assault, and DUI. Upon doing a misdemeanor, one may be assigned to do community service, pay fines, or serve a year in prison. A misdemeanor is not considered a felony.
If you land in prison, how is your credit score affected?
Landing in prison and serving a sentence has no direct implications on your credit score. But, related factors could have implications on your credit score. This includes not being able to work and not having an income. This may translate to not having funds to pay the prevailing obligations.
Your net worth has no bearing in this matter. When you fail to pay off your obligations when in prison or even otherwise, your credit score is affected.
The right way to go about the matters is to have someone manage and pay your bills when you complete your sentence.
Can Felons Build Credit?
When you complete your sentence, you get a second chance to build your life. Building good credit will be a part of the opportunity.
If it is only recently that you have been incarcerated and you come to realize that your credit score is badly affected, you should aim to build your credit score afresh. One of the ways to go about it is to find a high paying job for felons. Even going for one of the regular jobs hiring felons will help. ReeCareers is an agency that can help you out with this.
Recovering from a bad score is difficult and the bid takes time. If something affects your credit score, your credit history will be permanently scarred, even while you are not a felon.
Will a criminal background check affect credit history?
If you have maintained a good credit history and taken care of your expenses when serving your time, this is not a matter to worry about.
However, after you complete your sentence, try and get one of the jobs hiring felons so that you can build your credit score. ReeCareer will help you out in the bid, and also provide resources for housing for felons, rehabilitation, and counseling.