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Public Record Changes in Credit Reports

Member

Re: Public Record Changes in Credit Reports

I trust we will collectively notify others when the deletions begin to occur. It will be a interesting day imdeed.

Message 81 of 262
Valued Contributor

Re: Public Record Changes in Credit Reports

I think they may have started. Due to id fraud dw and I early this year ended up with tax lien. IRS quickly gave us a withdrawal. TU and Exp were good to pick up the withdrawal asap but on DW Equifax  fought DW for months and would not even withdraw it with a CFPB complaint. They claimed LN supplied the info but her LN report was clean.  I even had a letter from LN to that.   Finally even with Equifax saying they needed more time it just went away about 3 weeks ago. No notice from CFPB. It raised dw from I think  740 to 760 real Fico

Message 82 of 262
New Contributor

Re: Public Record Changes in Credit Reports

Hi All,

 I think Backwoods is right...I have been watching my scores closely but not my reports. It looks like in April EX had removed 3 discharged federal tax liens that were still on there in the Jan. 3b reports. No huge jump in my score I guess because the BK is still listed. EQ has not removed the liens yet, we will see what happens next week. Ironically, they were never listed on TU, my lowest score....good luck!




Message 83 of 262
Senior Contributor

Re: Public Record Changes Will be Effective the Week of July 10th (Tax Lien Removal)


koolerthanmost wrote:

Many of you are aware of the upcoming public record changes that will affect tax liens and civil judgements, but no one has been able to pinpoint the timeframe of the exact change. On July 1st the CRAs must start to follow the guildlines agreed upon in 2015, however the timetable public record data belonging to those affected has mostly been assumptions. According to the article below: "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 PII standards." PII refers to: "Minimum consumer identifying information (name, address, social security number and/or date of birth)." Personally, I have one lien that I'm still paying through a payment plan with the DOR and two that are paid and released. Given this, I am eager to have this data which does not meet the minimum standards permanately removed from my credit file. 

 

https://www.birchwoodcreditservices.com/about/news/public-record-reporting-changes-coming-july-1st


Thank you for your post and the link...

 

... I guess theres always NEXT week....



Zero percent financing is where the devil lives...

10/01/17 Fico8 scores: EX 660, EQ 647, TU 663
Message 84 of 262
Established Contributor

Re: Public Record Changes Will be Effective the Week of July 10th (Tax Lien Removal)

I'm interested to see what happens with my Transunion report. That's the only one of the big three that's reported my 2011 civil judgment from when I was living in a condo at the time and owed several thousand dollars in back homeowners' association dues. I don't know why Experian and Equifax have never reported it, but that's how it is, and it's probably a significant factor, now that I think on it, as to why my TU FICO scores are significantly lower than EQ and EX. If there's anything incorrect as specified under the new guidelines about the way that judgment was reported on TU, it should be removed this month and hopefully my TU scores will see a bounce. If not, it only has about one year left to go before it drops off the report on its own anyway!

Ch 7 BK discharged 12/14, well along in rebuilding credit. FICO 12/1/17:TU 663/EX 697/EQ 688 FICO 8 (Aug 2017) or 680 FICO 9 (Penfed Sep 2017), VS 3.0 12/1/17: TU 699/EX 687/EQ 693. $33.2K revolving credit as of 11/7/17; $951 Cap One secured Platinum MC, $2000 Apple FCU Platinum Visa, $3500 Amazon Prime Store Card, $3500 Walmart Store Card, $3500 Cap One Quicksilver MC, $4000 Care Credit, $4300 Overstock Store Card, $4500 Discover It, $7000 Penfed Power Cash Rewards Visa, $10k PenFed used car loan, $5k Navient student loan. In the garden again from 10/26/17 for at least the next 3 months unless I get a really really good preapproval.
Message 85 of 262
Valued Contributor

Re: Public Record Changes Will be Effective the Week of July 10th (Tax Lien Removal)

I'm going to use tax liens as an example.  They will no longer count against a lot of people's credit scores so those will improve but I believe a person could still be denied for a credit card or loan because the liens still exist.  Is this correct? 

Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 86 of 262
Established Contributor

Re: Public Record Changes in Credit Reports

Unless they can still see them somehow or they ask or something how would the creditors know about them to deny you.?
Current FICO 8's: EX 713, TU 700, EQ 706
Gardening for 18 months
Oldest TL: 5yr 10mo - AAoA: 2yr 11mo - INQ: EX(7) - EQ(1) - TU(6)
Plans: Pay off medical debt; Get a car
Message 87 of 262
Valued Contributor

Re: Public Record Changes in Credit Reports

So they will totally be removed from our reports? I was thinking they'd still be there but no longer count against our scores.
Cap 1 - $23,000 / Lowe’s - $17,000 / Barclay Rewards - $16,400. / Capital 1 - $15,000 / Walmart - $15,000
Cap 1 - $12,000 / PenFed - $10,000 / Penney - $10,000 / Barclay Apple Rewards - $4000 / Merrick - $2500


EQ - 740 / TU - 748 / EX - 748
Message 88 of 262
Senior Contributor

Re: Public Record Changes in Credit Reports

It says in the article that all lien information that doesn't meet the new standards will be removed.  Not just "not scored", but removed.

 

So a credit card issuer would no longer see it.

 

If you're going to apply for a mortgage, they won't see it on your credit report, but they will see any active liens via the title search.

 

 



Zero percent financing is where the devil lives...

10/01/17 Fico8 scores: EX 660, EQ 647, TU 663
Message 89 of 262
Established Contributor

Re: Public Record Changes in Credit Reports


tcbofade wrote:

It says in the article that all lien information that doesn't meet the new standards will be removed.  Not just "not scored", but removed.

 

So a credit card issuer would no longer see it.

 

If you're going to apply for a mortgage, they won't see it on your credit report, but they will see any active liens via the title search.

 

 


I also read that liens and judgments will also appear in a search by lenders via Lexus Nexis.



EX 753, TU 778, EQ 779
|| NFCU CashRewards $16.5K || Discover IT $7.5K || NFCU Platinum $7.5K || Macy's $7.5K || CitiCostco $5.5K || Chase $5K || CitiDC $4.8K ||
Message 90 of 262