YOUNGSTOWN, Ohio (WKBN) – You may be one of the millions of Americans who could see their credit scores go up this month. That’s thanks to a new federal credit reporting law.
Credit scores take into account payment history and loan balances.They also look at judgments or civil liens. Starting July 1, the new law tightens up the rules for bad marks on your credit but taking care of account information.
Apprisen Regional Operations Manager Victor Russell said name, address, social security number and date of birth all have to match or that information for that account is coming off your credit report.
If it’s a legitimate debt, you still have to pay it back. It just won’t hurt your credit score.