New credit reporting system just released court hurt people even more

A company called CoreLogic has just introduced a new credit file on consumers to compete with Equifax, Trans Union, and Experian. They will now sell credit reports to creditors and mortgage companies that include information which was not traditionally reported before such as: evictions, payday loan applications, rental payment history, property tax liens, homeowner's association payment history, whether you are upside down on your mortgage, etc.

Bottom line-even more of your personal and financial information will now be shared which could be very damaging when you apply for loans if it is not accurate. This new credit report will also have a FICO credit score attached to it. My fear is that this new system will hurt consumers, not help them.

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