April 2018 TransUnion Stops Reporting Tax Liens
Starting April 15th, 2018, TransUnion will no longer accept tax lien information for their main repository file. Over the last three years, the National Consumer Assistance plan has been rolling into effect and I’ve done a number of videos on this topic.
There is a new wrinkle recently though starting April 2018 and over the rest of the month, all of the three major repositories will no longer collect tax lien information from the courts. When the National Consumer Assistance Plan went into effect. It originally did away with the civil judgment information and now the tax lien information is going away as well. Bankruptcy will still remain in the repository file for now. Because the tax lien information was so inaccurate from the courts they’ve decided to do away with accepting that information. I would rather have a more accurate credit report and I think this is a move towards that. Some lenders might be concerned because they’re missing out on that type of data but there are other ways to gain access to tax lien information. Lenders who use FICO 9 will have an improved way to predict the repayment so from a lenders perspective, from a consumer perspective I think is a win because they are getting more accurate information on their credit report and that’s what we all want.
Remember my book is still for sale on Amazon is selling quite well and if you are a lender I would definitely recommend it to you it’s just laid out in a very easy to read format and I think that it will help any lender deal with a variety of credit situations so that’s really what I wrote this book for you can get it on Amazon I’ll put the link down below for that as well as the TransUnion announcement I think it’s big news and I think it helps a lot of people so please do me a favor and share this video out that way you with a little bit of me we can change the credit industry thank you