By Aparna Zalani | CBS Special Project's Producer

NORTH TEXAS (CBSDFW.COM) – Policy changes taking into effect on July 1st could see an improvement in your credit scores.

Almost 12 million Americans could see their scores go up about 20-40 points through an effort to improve accuracy in data collection for credit reports.

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Dana Cobb of Dallas is in the market for a new car. Her credit scores are in good standing but she realizes the score could determine if she can buy a sedan or an SUV.

(credit: Thomas Trutschel/Photothek via Getty Images)

“Your credit score can always dictate what sort of interest rate you are paying,” she said.

The new rule is part of the National Consumer Assistance plan which changes the way the three credit reporting agencies collect data on consumers…

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The changes include:
– Removing incomplete data on tax liens and civil judgements on credit reports.
– It makes it easier for consumers to dispute credit errors.
– And it removes traffic tickets and court fines from consumer’s files, which the three bureaus have already begun.

“That allows a consumer to have a better credit scores,” Wanda Saunders of non-profit credit consulting agency Transformance said.

The new plan is a result of a settlement between the credit bureaus and 31 states including Texas. However, some lenders worry about the borrower’s credit worthiness. Saunders said it might be a bit of an overreaction, “When you look at it, only 8 percent of consumers have civil judgements tax liens.”

“Eight percent of all consumers is not a huge number.”

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To avoid errors on the reports, credit bureaus will have to update information every 90 days.