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Coming July 10, 2017: Tax Liens, Judgments Removed from Credit Reports, per New Policy

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The credit bureaus (also called credit reporting agencies or CRAs) have adopted a new policy: tax liens and judgments will be removed from credit reports if they do not include the proper information identifying them to the individual.

It is estimated that 60% of tax lien information will be removed from credit reports and ALL civil judgment records will be removed!

A release from TransUnion gives some insight about what to expect:

  • Based on feedback, most Bankruptcy information will meet the minimum reporting requirements, so don’t expect those to go away.
  • The new standards will apply to both new and existing public record data.
  • Minimum identifier data required: Name, Address, Social Security # and/or Date of Birth
  • Minimum frequency courthouse visits to obtain newly filed data: 90 Days

When it will roll out: During the week of July 10, 2017, the CRAs will remove from their databases previously collected public record data that does not meet the enhanced standards.

Please pass on/share this news, because it will give a lot of folks new hope that they are not forever stuck in bad credit.

Many thanks to Credit Repair Resources, Inc. for this information. benjamin@crr760.com

 

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