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The Potential Impact of Adverse Public Records on Credit Reports

CreditStrong for Business

Evictions, foreclosures, bankruptcies, and judgments are terrible news for your credit. Public records, such as bankruptcy filings or outstanding tax obligations, were entries that could hinder a consumer’s credit history. This resulted in bankruptcy being the only type of reportable derogatory public record.

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How to Recover From Business Credit Card Debt

Fundera

That’s why they’re so ideal to finance startup costs, for instance; according to the US Small Business Administration, as of 2017, more than 10% of startups use a business credit card to get things off the ground. No one wants to—nor should—go straight to filing bankruptcy. Declare bankruptcy. Pay off high-interest debts first.