Equifax Data Breach Obtain My File Disclosures for Free
Learn What's
Reporting about You

New York Consumer Law Blog

Tuesday, May 30, 2017

CRCs Might Now Ignore Certain Kinds of Data in Calculating Your Credit Score

As the CRCs roll out improvements under NCAP [National Consumer Assistance Plan], tax lien and public records data that historically was used to calculate consumers’ credit scores likely will be eliminated entirely or in part.

With those changes in mind, VantageScore 4.0:

- Distinguishes medical collections from other types of collection accounts, ignores medical collections less than six months old (to allow time for insurance-payment processing) and penalizes medical collections less than non-medical ones.

- Relies less on derogatory collections and public-records data to ensure that the model will not lose substantial predictive strength in the likely event that these records fail to meet enhanced data quality standards and are removed from consumer credit files under provisions of the NCAP program.


Archived Posts

2018
July
June
May
April
March
February
January
2017
December
November
October
September
August
July
June
May
April
March
February
January
2016



© 2018 Law Office of Adam G. Singer, PLLC | Disclaimer | Attorney Advertising
60 E. 42nd St., Suite 4600, New York, NY 10165
| Phone: 212.842.2428
75 Montebello Road, Suffern, NY 10901
| Phone: 212.842.2428
445 Hamilton Ave., Suite 1102, White Plains, NY 10601
| Phone: 212.842.2428

About | Practice Areas | FAQ

Law Firm Website Design by
Amicus Creative