Does being convicted of a crime affect your credit report?

My friend has an excellent credit report but was just convicted of a crime for the first time. He is planning to get a mortgage loan within a year and I'm wondering if this will interfere with his credit.

Does being convicted of a crime affect your credit report?
The only time this would affect his credit report would be for employment purposes.





TITLE 15--COMMERCE AND TRADE





CHAPTER 41--CONSUMER CREDIT PROTECTION





SUBCHAPTER III--CREDIT REPORTING AGENCIES





Sec. 1681k. Public record information for employment purposes





(a) In general





A consumer reporting agency which furnishes a consumer report for employment purposes and which for that purpose compiles and reports items of information on consumers which are matters of public record and are likely to have an adverse effect upon a consumer's ability to obtain employment shall--


(1) at the time such public record information is reported to the user of such consumer report, notify the consumer of the fact that public record information is being reported by the consumer reporting agency, together with the name and address of the person to whom such information is being reported; or


(2) maintain strict procedures designed to insure that whenever public record information which is likely to have an adverse effect on a consumer's ability to obtain employment is reported it is complete and up to date. For purposes of this paragraph, items of public record relating to arrests, indictments, convictions, suits, tax liens, and outstanding judgments shall be considered up to date if the current public record status of the item at the time of the report is reported.





Otherwise, it will not alter his credit score (just make sure he pays his attorney :-)





Hope this answers your question.


LEGAL DISCLAIMER: The advice contained herein is for informational purposes only. It is not to be construed as Legal Counsel nor Legal Advice.
Reply:No, not the financial aspect of his credit report. It will not have any bearing on his scores or anything like that.





I work at a social service agency where we run background checks on folks and we have software that will provide any criminal activity/information. We can see that on the credit report, but they are seperate sections. I don't think a mortgage lender pulls that information.
Reply:Unless the crime was money related like theft or an overdue account that was reported to a collection agency, I doubt his credit is ruined. Credit is usally fixable and will self-remedy after 6-7 years. Now a conviction is much,much more serious. You can't do a pay for delete for crime!
Reply:No they are 2 seperate things. BUT if you do not pay your fines that it will reflect on both!





Good Luck