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Public records on a credit report may include information such as judgments, foreclosures, suits, wage attachments, bankruptcies, state and federal tax liens, and past-due child support. This information is reported by county, state, and federal courts to various credit reporting agencies. The agencies retain the information in a credit report and use the information along with other relevant credit data to determine your credit score. Since public records reflect poorly on your credit rating, you’ll want to make sure that this section of your report stays spotless. Additionally, criminal activity is not reported to the credit bureau; the public records sections of a credit report will only include financial-related information. This information will remain on your credit report for seven years. However, if the record relates to bankruptcy, it will remain on your report for 10 years.
If you do have a public record, it’s important to make payments toward them regularly and make every effort to pay them off as quickly as possible. To some extent, having an aggressive plan to pay off such debts could mitigate the negative aspects of having a public record on your credit report. If you have further questions about how to deal with information on your public record, seek the advice of a trusted financial advisor or credit counselor. Also, many credit counselors recommend reviewing your report periodically to ensure accurate reporting of your credit history. If you are interested in reviewing your credit report, you can access it through several agencies including Experian, TransUnion and Equifax.
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