(AP File Photo)
(AP File Photo)

Changes are coming that could help more Americans get a car loan or mortgage.

FOX News Radio's Tonya J. Powers has the story.

You've heard of the all-important "FICO" credit score?

Now, FICO says it will stop including records of people failing to pay a bill if the bill has been paid or settled by a collection agency.

That may translate into an easier time getting a loan for tens of millions of Americans.

Under the new change, FICO will give less weight to unpaid medical bills that are with a collection agency.

Since the recession, many banks and lenders have approved only people with spotless credit; and this may open up the chance for more loans without creating more credit risk.

Toyna J. Powers, FOX News Radio.