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The 8 Most Damaging Things You Can Do to Your Credit as a Small Business Owner

Fundera

Bankruptcies, liens, foreclosures, and lawsuits. According to a 2016 study by Experian, small business owners have an average personal credit score of 721 , while the average consumer score is 673. Defaulting on a loan. The difference between a delinquency and a default is mostly a matter of time. Credit Utilization.

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The Credit Score Guide: How Raising Your Score Can Save You Thousands on a Loan

Fundera

Payment history—including bankruptcies and judgments. But overall, your credit score is a good measure of how you repay your debts, what kind of credit you look for, how well you understand the amount of debt you can actually take on, whether you’ve successfully avoided bankruptcies and tax liens, and more. Don’t default.

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What Is a Good Credit Score, and Why Should You Care?

Fundera

Logically, lenders only want to work with the borrowers that pose the least amount of risk of defaulting on their loans. 2016 data by Experian shows that Americans had an average credit score of 673—that’s squarely within the good credit score range. Public record information, like judgments, collections, and bankruptcies.

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What Is a Good Credit Score? (And How to Get One ASAP)

Fundera

Logically, lenders only want to work with the borrowers who pose the least amount of risk of defaulting on their debt. 2016 data by Experian shows that Americans had an average credit score of 673—that’s squarely within the good credit score range. Public record information, like judgments , collections, and bankruptcies.