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According to FICO, out of the 200 million Americans with credit scores, 12 million consumers will see them increase in July. FICO projects 11 million consumers will see a score increase of less than 20 points.
"It's good news for the consumer, clearly, because the credit score is used almost ubiquitously across the world of consumer finance, and lenders use it, insurance companies use it, credit carders use it," said John Ulzheimer, a credit specialist who has worked for Equifax and FICO.
This summer, if a lien or judgment does not match three of their four criteria of name, address, social security number or birthdate, it will no longer appear on a credit report.
"Liens and judgments are in the major derogatory events category," Ulzheimer said.
You can include a copy of the settlement letter and the proof of payment.
You can also send a copy of the dispute letter to the credit card bank that is reporting in error.By regularly monitoring your credit, you can reduce the damage from credit fraud.