PUBLIC RECORD ERRORS AND CREDIT REPORTS
Consumers often contact The Adkins Firm because they have public record errors on their credit reports. Public records may include judgments and liens, such as tax liens. After a judgment or a lien is filed with the court, consumer reporting agencies include the public record information on the consumer’s credit report. The public record information is used by potential and existing creditors to determine whether the consumer is eligible for credit.
Public records are frequently updated and the new status is recorded with the court. For example, a tax lien may be paid, satisfied or withdrawn. The notice of release or withdrawal is filed with the court after entry of the lien. Likewise, after a judgment is entered, judgements may be vacated or satisfied. A court may enter an order vacating the judgment. In this case, the credit reporting agencies should not be reporting the judgment at all because there is no judgment. Or, if the judgment creditor files a notice of satisfaction of judgment, then the lien or judgment should be reported by the credit bureaus with the updated status.
However, some credit reporting agencies may continue to report the public records after the records have been updated. Outdated public record information harms consumers. When a lien is paid, but not reported as paid, it appears that the consumer has more debt. Likewise, when a judgment is paid or vacated, but still reported as owing, creditors may be concerned that the consumer’s wages may be garnished to satisfy the judgment.
The Fair Credit Reporting Act (“FCRA”) is a federal law that requires credit reporting agencies to follow reasonable procedures to assure the maximum possible accuracy of a consumer’s credit report. If a credit reporting agency violates the FCRA, then the consumer may be entitled to actual damages, including credit or a reduced credit score. Consumer may also be entitled to statutory damages, punitive damages, attorney fees and costs.
Do you have a judgment or tax lien reporting incorrectly on your credit report?
Has the lien been resolved, satisfied or withdrawn? If you paid it or the lien was withdrawn, do you know how the lien is being reported by the credit bureaus?
Has the judgment been vacated or satisfied? Do you know how the public record is being reported by the credit bureaus?
The Adkins Firm represents consumers with public record errors under the FCRA. If you had a lien that was paid, satisfied or withdrawn, but being reported as owing, then you may have a claim under the FCRA. If you had a judgment that was paid, satisfied or vacated, but being reported as owing, then you may also have a claim under the FCRA. Contact consumer protection attorney Micah S. Adkins for a free case evaluation.
Remember, it’s your credit report!