They Said Once a Debt Falls Off Your Credit Report, You Don’t Owe It Anymore. Not True.
A debt falling off your credit report after 7 years doesn’t erase it. Three separate clocks are running — here’s what the CFPB actually says about old debt.
Credit Reporting
They Said Buy Now, Pay Later Isn’t Real Debt. It’s On Your Credit File Now — Just Not Scored Yet.
BNPL is now on your credit file — Affirm reports to Experian and TransUnion. But it’s not yet scored by lenders. Here’s what that means for you and when it changes.
CFPB Is Making It Harder to Complain About Financial Companies
The Consumer Financial Protection Bureau is adding new barriers to its complaint portal — including disclaimers, proposed two-factor authentication, and complaint limits — after lobbying from the credit bureau industry. Consumer advocates say the changes will hurt the people who need the system most.
Wells Fargo Owes You Money: $56.85M CARES Act Forbearance Settlement
Wells Fargo will pay $56.85 million for allegedly misreporting California mortgage borrowers’ CARES Act forbearance status to credit bureaus. No claim form is needed — eligible borrowers get checks automatically after final approval in April 2026.
CFPB May Block Your Credit Report Complaints
The CFPB has started a process that could make it harder for consumers to file complaints against credit reporting companies. The move responds to industry requests to require additional personal information, limit complaints per phone number, and restrict IP addresses — changes that would hit vulnerable consumers hardest.
Data Broker Complaints: 61 Companies Track You
Quick Answer: Beyond the big three credit bureaus (Equifax, TransUnion, Experian), 61 companies create consumer reports that can impact employment, housing, insurance, and banking decisions. Consumers have the right to access these reports and dispute inaccuracies that could be affecting their financial opportunities.Think the Big Three Are the Only Ones Watching You? Think Again.Most people …
