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How Long Does a Collection Stay on Your Credit Report?

CreditStrong for Business

Evidence of the collection account remains on your credit bureau report regardless of whether the old debt remains as an unpaid collection account or if it was paid through a debt settlement agreement. How Do Collections Affect Your Credit Score? The consumer’s existing credit score at the time.

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How Will the Impending Credit Changes Affect Your Score?

Fundera

This is why it’s important for business owners to stay abreast of how their personal credit score can affect their ability to get credit for the purposes of funding their business’ operating costs. Fortunately, some changes coming down the pipeline could positively affect millions of Americans’ credit scores.