What is considered “Adverse Credit”?
Conditions for a Denied Credit Check • Bankruptcy (Chapters 7,11, or 12 within the past 5 years) Note: Department Policy does not consider Chapter 13 bankruptcy adverse. • Voluntary surrender within the last 5 years • Repossession within the last 5 years • Foreclosure proceedings started • Foreclosure within the last 5 years • Deed in lieu of foreclosure • Accounts currently 90 days or more delinquent Note: Accounts currently reported, as 90 days or more delinquent, which are over 5 years old since the last reported delinquency, are not considered adverse.
