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The Frugal Creditnista

Have A Public Record On Your Credit Report?

Many people ask how to remove public records from their credit report. In some cases the public record is so old it's not even affecting your score. So, ask yourself, is it worth pursuing? Especially if your more recent credit items are reporting negatively.

Your credit score is mainly comprised of five items:

Payment History – 35%; Amount You Owe – 30%; Length of History – 15%; New Credit – 10%; Mix of Credit – 10%.

Public Records, Collections, Late Payments, Positive Payment History all falls within that 35% Payment History.

Items that are 0-12 months old make up 40% of that 35%.
Items that are 12-24 months old make up 30% of that 35%
Items that are 24-36 months old make up 20% of that 35%
Items that are 36-48 months old make up 10% of that 35%

Anything older than that is affecting very little of the 35% portion of your score. And if your public record is recent? Go ahead and dispute it. But have a reason. Is it reporting the docket number correct? The filing date correct? The resolution date correct? The amount reporting correct? The status?

Literally look at every aspect of the public record reporting and see if it's accurate. And if you have no idea if it's reporting accurately or not? Get a copy of the public record; heck that's how the bureaus get the information when placing it on your credit. Check it up against what all 3 bureaus are reporting to ensure every one of them are reporting the exact same thing as the public record. Is the public record correct?

There are errors in the public records as well (I know this first hand). Does that mean that the bureaus are absolved from reporting accurate information? ABSOLUTELY NOT! Challenge your public record on the basis of obtaining the bureau's method of investigation; who they obtained their information from; and the documentation used to verify your public record. (Another tip is that public records do not contain the full social security number and date of birth)

And if that doesn't work, send a letter to the courthouse reporting to see if they verified the information with the bureaus as all 3 credit reporting agencies will state in their response to you.

I obviously can't guarantee that this will result in a removal 100% of the time, but it definitely increases your chances.

At the end of the day, it's really a decision of do you want to stick with the public record reporting and just focus on rebuilding or spend the next 3-12 months challenging an accurate credit reporting? To rebound from a resolved public record it takes roughly 18months depending on what else is reporting on your credit report. Getting to the 700s in that time frame is definitely doable for most.

And if you need professional assistance, please feel free to reach out to me!

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