Each item on your credit report, including a public record, is subject to the reporting periods outlined in the Fair Credit Reporting Act. After the reporting period for each public record expires, the information must be removed by the credit bureaus.
Facts
Public records almost always consist of debts that went through the court system. Public records have a negative effect on your credit score.
Time Frame
Paid tax debts, judgments, Chapter 13 bankruptcies and foreclosures will remain on your credit report for seven years. A Chapter 7 bankruptcy will appear for 10 years and an unpaid tax debt can appear on your credit report indefinitely.
Misconceptions
Although a judgment may be renewed by the original creditor prior to the date the judgment expires, the judgment will still be removed from your credit report after the initial seven-year reporting period.
Considerations
If you review your credit history and discover a public record reporting in error, you may dispute the information with both the information provider and the credit bureaus. This will result in the information being removed prior to the expiration of the reporting period.
Warning
Paying a debt that appears as a public record will not result in the negative information being removed from your credit report. Nor will it improve your credit score.
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