Derogatory public records

VantageScore code numbers

Code numbers can differ by bureau and score version. The wording of the statement is what to match.

What puts this reason on your score

VantageScore says public records can have a significant negative effect on your score. The CFPB found that new reporting standards removed all civil judgments from the nationwide credit reports in July 2017, and that by April 2018 no tax liens remained. It says bankruptcies are now the only type of public record on those reports.

So when this code appears, look for a bankruptcy first. VantageScore 4.0 also has a separate 'Bankruptcy' code, 88. On 3.0, code 88 means a public record that's too recent and bankruptcy is code 98, so check which version printed the number.

What to check on your credit report

• The public records section of each report
• Any judgment or tax lien listed on a nationwide bureau report, since those bureaus stopped carrying them
• The filing date and chapter of any bankruptcy shown

What you can do about it

• Dispute any judgment or lien entry, or a bankruptcy that isn't yours, with the bureau showing it.
• If the bankruptcy is accurate, the work is rebuilding: new on-time history on top of it.
• Make sure every account included in the bankruptcy shows a $0 balance.

The free drop off calculator can help with this step.

How soon a change can show

Federal law lets a bankruptcy stay up to ten years, and TransUnion says a Chapter 13 comes off seven years after filing. Its weight fades as the filing date gets older and new on-time history is reported.

If you are applying for a mortgage

Mortgage programs set their own waiting periods after a bankruptcy, separate from the score. Check the waiting period for your chapter and loan type before you pick an application date.

Guides that go deeper

• Rebuilding credit after bankruptcy: the first 24 monthsWhat your report should look like after a bankruptcy discharge, which accounts to open first, which offers to ignore, and how long the record stays.
• Mortgage waiting periods after bankruptcy, foreclosure, or short saleFHA, VA, USDA, Fannie Mae, and Freddie Mac waiting periods after Chapter 7, Chapter 13, foreclosure, short sale, and deed in lieu, with sources and start dates.
• Chapter 7 vs. Chapter 13 on your credit report: the timeline differenceChapter 7 can stay on your report 10 years, a Chapter 13 usually 7, both from the filing date. How each one reports, and how mortgage rules treat them.
• How to dispute a credit report error, step by stepA step-by-step guide to disputing credit report errors with Equifax, Experian, and TransUnion: online vs. mail, what to include, and how to keep proof.
• What your credit score reason codes are telling youReason codes list what held your score back the most, in order. What the common ones mean, which you can act on, and which to leave alone.