Why Your Credit Score Could Get a Big Boost This July

If you have a tax lien or judgment on your credit report, you are in for some potentially good news this July. The credit bureaus recently announced that they are going to remove most of these liens and judgments from credit reports, and it will be effective July. This is big news because a judgment or a lien can be a blemish on your credit report for years. Read on for more details.

Key Takeaways:

  • If you have a tax lien or a judgment on your credit reports, that information is going to be removed.
  • Unpaid tax liens don’t ever have to be removed from credit reports. Even when a lien has been paid and released, the credit reporting can continue for another seven years.
  • So, this move by the credit bureaus will result in the removal of some of most persistent negative information in the credit reporting environment.

“The credit bureaus this week announced they’re going to delete or “purge” the vast majority of tax liens and judgments from consumer credit reports; that’s a big deal for many consumers.”

http://www.thesimpledollar.com/the-credit-bureaus-just-did-you-a-solid-if-you-have-liens-or-judgments/

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