There are big changes to the way creditors report to credit reporting agencies. Changes that you will want to be aware of.
In 2015, Equifax, Experian and TransUnion announced the National Consumer Assistance Plan to enhance their ability to collect complete and accurate consumer information and provide consumers more transparency when interacting with consumer reporting agencies about their credit reports. The plan was announced after cooperative discussions and an agreement with the Attorneys General of multiple states.
In 2016 the three major Credit Reporting Agencies (CRA’s) stopped allowing the reporting of debt that did not arise from a consumer contract or agreement to pay. This included, […]