Your Credit Score May Increase - Here's Why
I hope this email finds you doing well. For this newsletter, I'd like to discuss an important recent change to credit reporting procedures that could have a positive impact on your credit score.
Recently, Experian, Equifax and TransUnion (the three credit reporting agencies) decided to no longer report civil judgments and tax liens on consumers' credit reports. This could have a positive impact on the credit scores of approximately 19.8 million Americans who have had civil judgments and tax liens reporting on their credit reports.
As of July 1, 2019, nearly all civil judgments had been removed from consumers' credit reports and about half of all tax liens had already been removed. It is estimated that over 75 percent of those impacted will see a jump in their credit score of 20 points or less. While not a big jump, any increase in consumers' credit scores is helpful, nonetheless.
This new policy change should be helpful to consumers as they apply for new credit or financing now that civil judgments and tax liens will no longer be reporting on their credit reports.
Remember that once a year you can pull one free credit report from each of the credit reporting agencies by going to www.annualcreditreport.com.
If you pull your credit report and see that a civil judgment or a tax lien is still reporting on your credit report, contact a competent consumer attorney as soon as possible so that you can initiate a dispute of the credit entry.
I hope this newsletter may be helpful to you and your family. I hope you all have a great day!
Ryan Torrens, Consumer Litigation Attorney
Disclaimer: The information provided in this email does not, and is not intended to, constitute legal advice; instead, all information, content, and materials available in this email is for general informational purposes only.
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