Good news for renters who have a good history of timely rent payments: Experian is including that information on credit reports now.

Chicago Breaking Business article via The Consumerist

I am not a credit report expert, but what I talk about here is based on my years of experience as a bankruptcy attorney.  First the bad news: a bankruptcy filing will stay on your credit report for 10 years and you’ll take a hit on your credit (FICO) score.  But, here’s the good news: usually within a year after filing, your FICO score will actually increase.  The real damage to your credit score is caused by high outstanding balances on credit cards and other debts, late and missed payments, and accounts turned over to collection agencies.  Bankruptcy wipes out those debts and late payment history, leaving a much cleaner credit report.

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