While this section of your credit reports can be difficult to navigate, the information contained here is never good news for you as far as your credit report and score are concerned. While you may not see a huge impact on your overall FICO with a Public Record item, lending decisions are made using this data.
Civil judgments happen when you are sued and you lose. The court awards a judgment to the party that sued you. These judgments remain on reports for a minimum of 7 years from the date of the filing.
Tax liens happen when you fail to pay your taxes. If you have a tax lien that goes unpaid, it can remain on your credit report for up to 15 years. Paid liens stay on your report for 7 years in most cases, but we have seen them as old as 10 years.
With judgments and tax liens, just like the rest of the information on your credit report, the data has to be correct. We have had tremendous success removing Public Record items from credit reports. When a court, a creditor or a vendor hired by the court supplies factually inaccurate information about you, we can assist in clearing it from the 3 credit bureaus.
The Consumer Data Industry which represents Experian, Equifax and TransUnion has indicated that the bureaus have adopted ‘enhanced public record data standards’, but most civil judgment data and many tax liens contain information and amounts which are not correct.
Let us review the Public Record section of your credit report to see how we can assist you. Contact us for more information at 702-778-2000 or click below