The next time you review your credit reports you’ll likely see a section titled “Public Record Information.” The credit reporting agencies routinely include certain financial related public records in their consumer credit reports. If you’re unfortunate enough to have public record information on your credit reports there are several things you need to know and, unfortunately, the news is mostly bad.
When a public record appears on your credit reports it is likely to cause considerable damage to your credit scores. Public records are commonly included in any list containing derogatory credit entries. The list of public record options that can appear on credit reports is limited to three.
Which Public Records Appear on Credit Reports?
First off, while there are many different types of public records, there is no such thing as a good public record when we’re on the topic of credit reporting. They are tax liens, judgments, and bankruptcies. The tax liens can be either state or Federal and the judgments can be in any court jurisdiction including Federal or state.
How Public Records Find Their Way onto Credit Reports
Consumers are often very confused about the way the public records find their way onto credit reports. Traditional credit accounts such as loans and credit cards appear on credit reports because the lender reports them to the credit bureaus. Public record credit reporting works in a very different manner.
As the name suggests, public records are public information. Anyone can see them including me, you, your neighbors, and any other interested party. The credit bureaus themselves actually seek out public record information in order to include them on credit reports.
Public records vendors and electronic access to court records, such as PACER, are used to collect information about bankruptcies, tax liens, and judgments
How Long Do Public Records Remain on Credit Reports?
Not only do public records have the potential to cause damage to a consumer’s credit scores but also they have to potential to damage those credit scores for a very long time.
Like any other type of negative information that appears on credit reports, the Fair Credit Reporting Act defines how long a public record is allowed to remain on a consumer’s credit report. Credit reporting limitations vary depending upon the type of public record being reported. Here is a quick guide.
1. Judgments – Judgments must be purged from credit reports 7 years from the date filed. Paid or unpaid, satisfied or unsatisfied, 7 years is the limit. However, if a judgment is re-filed with the court it will be given a new filing date and potentially cause it to remain for 7 more years.
Vacated judgments are removed from credit reports immediately. Vacating a judgment means it never existed.
2. Bankruptcy – Consumer bankruptcies have arguably the most confusing statute of limitations when it comes to credit reporting since the credit reporting “time limit” changes based upon a variety of factors. Chapter 7 bankruptcies can remain on credit reports for 10 years from the filing date.
Chapter 13 bankruptcies can remain on credit reports for 7 years from the discharge date; however, they cannot be reported for longer than 10 years from the filing date. In most cases a Chapter 13 bankruptcy takes several years to discharge so most of them remain on file for 10 years, like Chapter 7 bankruptcies.
3. Tax Liens – Paid and released tax liens are removed from credit reports 7 years from the date of release on the lien, not the date filed.
Federal tax liens that have been withdrawn are removed immediately, although the consumer will typically need to inform the credit bureaus about the lien withdrawal in order to have it removed. Unpaid tax liens can remain on credit reports indefinitely.
I saw someone leave an info under comment section on helping to repair credit I was interested in knowing more and if the hacker still does this. I had bad credit, a old bankruptcy & problems with getting approved for a apartment due to 2 broken leases from the past which I explained to CREDIT BRAINIAC when I made contact to him. The hacker cleared my bad records and improved my credit score at a good cost. Everyone having credit issues should reach him at creditbrainiac (@ gmail . com).
The Department of Education, aka the federal government, needs to give victims of student debt a real break. They’ve stripped away of practically every consumer protection.
I have a niece that has been convicted of many counts of I. D. Theft. Although she did not go to jail she was to reimburse, pay the victims back of what she stole from them, but she has not done a thing and this does not appear on her credit report. How is this possible?
so if you pay a debt that the creditor filed in 2008 as a default or charge off and you pay them in 2014 the credit rating agencies says you still will have 7 more years of the derogatory rating by this company. so in essence if you didn’t pay them at all the derogatory would fall off after a certain amount of time but by paying when you were able you get 7 more years why is that ?
Let me no why
You started the time clock over.meaning you have a current agreement to pay so the process started over
Derogatory marks fall off after 7 years. You paid the debt. It should state paid but still negative marks stay in place as late payments. Paying a debt with out a written contract stating they will remove after paying in full stays on your credit for years showing length of time of credit history
When it comes to time limits (7 yrs or 10 yrs) most creditors and the three major credit bureaus well use the maximum time allowed. Although the Fair Credit Reporting Act does not indicate that it is required. The Act states: “May” report up to a maximum of 7 or 10 years. “May” is the operative word. Nothing stops them from removing paid, settled or discharged accounts from the reports earlier other than their own in house rules. Find a good attorney, who knows what they are doing and who knows the law and then challenge these companies. It well be hard finding an attorney who really knows the law. Most are lazy and like sheep just follow the heard as it is easy money for them. They well talk with you and in the end tell you nothing can be done and charge $250.00 – $500.00. That is BS. You have to decide if it is worth the time and money to challenge these companies, however. Most of the time you can have items removed by yourself. More information can be obtained by contacting the Federal Reserve Board of Governors or your State Senator, who well have a staff member contact the Federal Reserve on your behalf. Be patient, consistent, courteous and tenacious.
I won a case against against a credit card through small claims It is still on my credit report eventhough I never owe them any money I need to get reccomend a someone who can actually get that and 2 other items of my report Do you reccomend anyone or company without doing all the paperwork myself due to arm and back injury
Why don’t u do it yourself dispute it with the creditors and send a dispute too the three credit bureau with a copy of your judgement. Also send same items to the consumers federal bureau. I always like to keep my state attorney general off the golf course, send a letter there too. Then sit back and see what happens
i want to clean my credit accounts up because i want to purchase a house
These tips are great, wished I wouldst know this stuff before I messed up my credit.
What about child support (CA)? How long does it stay on you credit report? Anyone else feel free to comment
Child support remains on the credit report until it is paid in full. CS is much like student loans and federal tax liens, they can’t be included in bankruptcy filings either.
Oh, and just because you defend yourself from being taken unfair advantage of by the individual, guess what? Now your FICO Credit Score is assessed a new 7 year prison sentence for defending yourself against being extorted.
I had a judgement filed against me for an unpaid credit card in 2011. I later paid the card in 2012 and the judgement/lien was released. On my credit report, the judgement is listed as “filed” but not “released”. Is there a difference in how it is reported regarding how it affects your credit score? Should I send a copy of court records to the 3 credit bureaus?
Personal judgments by individuals SHOULD NEVER enter into anyone’s Credit Report. A business creditor or tax YES is fair. Not so for an individual type. EXAMPLE: You agree personally and owe an ex bf/gf or something mutually agreed to while parting ways. The vindictive person demands more (or double) at some point then you actually agree to owe AND YOU HAVE PROOF! IN WRITING! You MUST allow to go thru a civil process to prove it. The judge n court honors and upholds your PROOF to the original amount owed an individual in spite of them attempting to inflate the amount. Nonetheless you now have Public Record of the event which the Credit Bureaus now can tank the crap out of your scores with UNFAIRLY! This is total BS and grossly unfair system against the innocent is EVIL PERIOD and need be changed. Thank You!
An atty ‘friend’ was going to help me straighten out all my bills anc work on credit score after I moved 400 miles away and was depressed and financially paralyzed. After three years he had done nothing, making thr situation much worse. He loaned me $1600 at one point nto file bankruptcy in IL, I went to do so and was not eligible. I used part of thid $ to pay off current bills. He then told me not to worry about paying him back. I signed no loan papers but the check he wrote was from his law firm in Wisconsin. I am in IL. I was not a paying client. His failure to do anything in over two years caused me to get a judgement from Discover card and my payroll check was garnished S1100/month because he told me he was fighting it and we would settle before it got that far. Paid garnishment for over a year and is off my report. However he was mad at me because I told him I wanted my POA revoked and nothing to do with him, he then sued me forth the original $1600 he had told me not to worry about, I appeared by phone and paid $800 with balance due in 30 days. I did not call back into court for second hearing date as I paid him direct. He said not to worry, he did not file judgement, it was paid ofg, nothing would happen, thennit showed up on my credit report after it was paid and he falsely told me in writing that it was never filed. What can I do to get it removed?????
Don’t worry..BE HAPPY
If a bankruptzy was DISMISS how long will it last on your credit report.
Recently had to deal with both federal & state tax liens..Able to get the feds to send me a withdrawal..Still fighting the sate..Thanks
How do I get rid of a tax lien that was paid in full 5 years ago?
I am so thankful for these posts, they have helped me to turn my life around!