On the 8th of June, there will be changes on how your credit is reported.

Changes include:

**Collections that aren’t at least 180 days old will be rejected by the 3 major credit bureaus. You will now have time to pay them off before it is even reported.
**Medical collections will no longer show on credit reports as long as it is being paid (through either you or insurance).
**Collection accounts that have not been updated in six months or more will not be factored into scores.
**Any collection that did not result from a contract or agreement to pay by the consumer, will be removed.

This means that now is the perfect time to speak with a loan professional about how this will impact your ability to buy a home.

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