Back on July 1, 2017, you may have noticed up to a 20-point increase change in your credit scores if you had certain collections on your credit reports. 20 points may not sound like much but when you are only 20 points away from the 620-middle score most lenders require for a home loan, or that perfect low rate it can become one of the most important 20 point increase you will ever acquire.
A change came from the Three Big Credit Reporting Bureaus (Experian, Equifax, and TransUnion) who have decided the change information that is currently used to calculate scores.
Due to a settlement with lawmakers in over 30 States across the U.S. the credit Bureaus have agreed to dropping information after a settlement. Attorney generals across the country alleged liens and civil judgments were often attached to the wrong consumer who shared similar data information, which in turn unfairly hurt their ability receive a fair interest rate or to obtain credit for credit for purchasing a home, auto, renting an apartment, or even in worse cases being denied for something as simple as a gym membership.
As of last summer, in 2017 when a judgement or lien does not match three of the four criteria of name, address, birthdate, or social security number, then it will no longer be allowed to appear on a person’s credit report.
At In-House Credit Repair, LLC we are constantly fighting for your rights. We do not let credit Bureau’s, or collection agencies take advantage of any of our clients. Register today and you will see why we are changing the Credit Repair Industry for the better.