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CREDIT BUREAUS REMOVING LIENS, JUDGMENTS FROM CREDIT REPORTS
- Experian, Equifax, and TransUnion have agreed to remove civil judgments and tax liens from the credit reports of individuals starting July 1, according to a report. A lack of complete identifying information of the individual, such as name, address, Social Security number, and date of birth, on liens and judgments is being cited as the reason behind the decision. The decision is expected to raise the credit scores of 12 million individuals in the U.S., which represents about 6% of those who have credit scores.
BANNED COLLECTOR GETS CAUGHT RUNNING NEW AGENCY
- Being banned for life from the debt collection business was not enough to keep Nelson Macwan away. The Illinois man is facing charges for running an illegal debt collection operation. Macwan was banned from the industry back in 2012 as a result of a lawsuit against his former company, but Macwan started up a new microsoft10.com company, New Britain Financial, and has deposited nearly $2 million into his bank account, while racking up more than 100 consumer complaints nationwide.
CITY TO RE-UP CONTRACT WITH AGENCY EVEN THOUGH RECOVERY RATE IS NOT AS GOOD AS OTHER CITIES
- The city of Vacaville, Calif., is planning to extend a 15-year partnership with Credit Bureau Associates for two more years, even though the recovery rate is lower than has been reported by other cities. CBA is recovering about 20% of unpaid fees from city residents, compared with 23% in neighboring cities. The discrepancy is likely due to the city not engaging in any collection efforts prior to referring the account to the collection agency, according to a report.
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The Daily Digest is sponsored by TCN, a leading provider of cloud-based call center technology for enterprises, contact centers, BPOs, and collection agencies worldwide.