When you get a tenant evicted you get a judgment for the amount of money they owe you. In reality all you get is your house back. Don’t count on getting any money. Just clean up your house and rent it again. What you really want is your house back not any money. If you really feel bad about the past money then hope for one day that they may get around to trying to buy their own house the mortgage bank may require them to find you and pay you what they own you. (Don’t bet on it)
The eviction does show up on their background report so they will have a hard time renting in the future, but none of that gets you any money.
About evictions. The worse thing is not having an empty rent house sitting there not paying you any rent, the worse thing is having a bad tenant in your rent house not paying you rent. It is worse because you can’t get a good tenant in there to pay you rent because that bad tenant is sitting in there blocking the house from the good tenant you are looking for. So that is why you throw a single mom that is 20 months pregnant and her retarded blind child out in the snow in the middle of winter if she is not paying her rent. You want to look forward to the next 2 years of lease payments not look back at the 2 or 3 months of rent they owe you.
In most states, a money judgment is good for ten years and can be renewed for another ten. If your judgment is recorded in the county where your tenant lives (or moves to after eviction), it will appear on his credit report.
If your tenant tries to get a loan to buy a house, the lender will require your judgment be satisfied as a condition of the loan. In most states, wage garnishment is allowed if the wages are higher than minimum wage. If your tenant is not making enough now, maybe he/she will be a few years from now.
The IRS does not collect your judgment for you. The IRS will not withhold the judgment from any tax refund your tenant might have coming. If you decide to abandon your judgment collection effort and just forgive the debt, then you can send the tenant (and the IRS) a 1099-C for the amount of the forgiven debt. This will make the forgiven debt taxable income to your tenant and the IRS will assess income taxes on that amount.
I recently collected on a judgement (used an attorney), what he did was send property seizure notices and then levied the tenants bank account. The tenant has been making monthly payments ever since. Depending on what state you’re in you may be able to garnish their wages and even reposses their car. Check the laws in PA and ask the county clerks, they can be a pain, but they know the process.
if you file for eviction in court, and get it,it should show up on a background check if a landlord is using a good service,they search the county records for evictions,but it doesn’t automatically show up on a credit report