30 State Attorney Generals including Ohio Attorney General Mike Dewine announced a settlement with the major credit reporting agencies. The settlement will bring more light to how information is reported on your credit report. It will make it easier for consumers to dispute errors on their reports. Some of the changes will include generally preventing the reporting of information about fines and tickets, medical debt can not be placed on a credit report for at least 180 days after it has been reported to the bureau, and debt collectors must state who they are collecting for. A link for online credit disputes must be added to the Annual Credit Report website. There are requirements in the settlement to limit the agencies for selling their products and for providing consumers with more education.
This is just another step in helping consumers protect their credit and to make the public information about each of us more accurate