Three Credit ReportsThere are three credit reports
Those amendments will significantly impair the credit assessment capability on the basis of information obtained exclusively from those credit reports. By 2015, Expertian, Equifax and Transunion launched the National Consumers Assistance Plan as an effort to increase the precision of credit reports and offer consumers a better way to interact with these credit bureaus.
In order to comply with the provisions of this Schedule, credit bureaus will only receive and declare credit information from countries that indicate (1) name, (2) street and ( 3) either date of origin or national insurance number in connection with the judgements and pledges. Currently, most of the information transmitted to these credit bureaus does not contain a date of origin or a national insurance number and is therefore deleted from the credit reports.
Indeed, a provisional study has shown that Transunion will remove all information from civilian justice and 60% of official information from its database. According to Experian's provisional study, about 96% of information from official registers is taken from civilian courts and up to 50% from liens.
Elimination of these dates may significantly impair the assessment of consumer credit standing against which civilian judgements or encumbrances have been handed down. In fact, judgement and pledge information can be some of the most important elements in the assessment of credit, as they represent confirmatory findings that cash is due by the borrower to another borrower.
Deleting this information from credit reports can make a consumer's credit value appear much higher than it should otherwise be. Whilst these credit bureaus exclude this information from credit reports, judgement and pledge information is available from other resources. We recommend that if you have a suspicion that a judgement or pledge is not contained in a credit history, you consult your lawyer to perform a more thorough investigation to assess your soundness.