What Does Item of Public Record Mean on a Credit Report?

A public record is legal information that appears on your credit report.

A public record, such as a divorce record or a bankruptcy, is legal information that is accessible by anyone who wishes to search for it and knows where to look. Some types of public records will appear on your credit report.

Facts

A section of each of your credit reports is reserved for items of public record. These entries will often have a negative effect on your credit score.

Time Frame

Public records such as a judgment, foreclosure or Chapter 13 bankruptcy will be removed from your credit report after seven years. Chapter 7 bankruptcies remain for 10 years, while unpaid tax liens can appear within your credit file for 15 years.

Significance

The older a public record is, the less of a negative impact it will have on your credit score.

Features

A public record will appear within a trade line on your credit report. The trade line will include which type of record the item is, who originally filed the record and the date on which the record was filed.

Options

If you find that an item of public record contains inaccurate information or appears on your credit report in error, you may dispute the entry with the credit bureaus and request that it be removed.

References

• TrueCredit: Credit Report Guide
• Experian: Credit Score Basics
• Cardreport: The Fair Credit Reporting Act (section 611)

Resources

• MSN Money: How to Read Your Credit Report