3 Major Credit Bureaus

What do you think, will it boost real estate sales?

Will it help dying appraisal profession?

On the 8th of June, there will be changes on how your credit is reported. These include:

• Collections that aren’t at least 180 days old will be rejected by the 3 major credit bureaus. You will now have time to pay them off before it is even reported.

• Medical collections will no longer show on credit reports as long as it is being paid (through either you or insurance)

• Collection accounts that have not been updated in six months or more will not be factored into scores.

• Any collection that did not result from a contract or agreement to pay by the consumer, will be removed.

 

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