How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site.
    Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Lane Your Own Question
Lane
Lane, JD, CFP, MBA, CRPS
Category: Tax
Satisfied Customers: 10142
Experience:  Law Degree, specialization in Tax Law and Corporate Law, CFP and MBA, Providing Financial & Tax advice since 1986
1929974
Type Your Tax Question Here...
Lane is online now
A new question is answered every 9 seconds

My FICO score is being affected by a public record I have.

Customer Question

My FICO score is being affected by a public record I have. It is a tax lien from California FTB. The lien is paid in full. It has been reported as released.
I need to know what are my options to remove it from my credit reports?
Is there a way to fight it.
Submitted: 3 years ago.
Category: Tax
Expert:  Lane replied 3 years ago.

NPVAdvisor :

No. The credit bureaus are private companies, and choose to do things the way they do, without regard to anything other than what the law MAKES them do.

The applicable here if the Fair Credit Reporting act, and it does not require the credit bureaus to remove liens from the report ... at all.

They are required to report that the lien has been paid, but that is all.

All three of the credit bureaus (as you probably know) DO currently have a policy of removing these and other negative issues after 7 years.




What you CAN do is have your credit reports frozen, so that no one can see them.

The California law on security freeze is in the California Consumer Credit Reporting Agencies Act, at California Civil Code §§ 1785.11.2-1785.11.6 and 1785.15

Here is the California Attorney General's page on how to do that:

http://www.oag.ca.gov/idtheft/facts/freeze-your-credit

Hope this helps

JACUSTOMER-8hgejee1- :

Are you telling me that I cannot find any attorney that can challange the CBs and have them take it out from my public record?

NPVAdvisor :

Any attorney will tell you that the Fair Credit Reporting act is the governing statute, and that there is no recourse here. As we have discussed, your public record HAS be cleaned up. You credit report with the bureaus (private companies), however, is a different matter. That we must all live with what they say is common knowledge.