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If a Collection Account Is Deleted, Does Your Credit Score Increase—Answered

CreditStrong for Business

If a collection account is deleted, does your credit score increase ? The short answer is that it depends on the credit-scoring model used to evaluate your credit. If a collection account appears on your credit, it highlights a crucial issue with your financial health, which you should immediately work to improve.

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How Many Points Does a Mortgage Raise Your Credit Score—Explained in Detail

CreditStrong for Business

If youre about to apply for a mortgage loan, you are most likely concerned about how the loan will affect your credit score. This is because your credit score significantly influences your financial prospects and your chances of qualifying for loans, lower interest rates, cash back rewards, and travel points.

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Resolve to Be More Proactive in 2024

Your Virtual Credit Manager

Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics.

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Payment History and How It Affects Your Credit Score

CreditStrong for Business

Payment history is the most important factor in calculating your FICO® credit score. Your payment history accounts for over a third of your overall FICO credit score, comprising 35% of the impact of all FICO credit score factors. Read more about the factors that impact your credit score.

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Kabbage Vs. OnDeck: Which is Best for Your Small Business?

Fundera

In this article, I’ll try to help out by taking a closer look at two very popular alternative financing sources, Kabbage and OnDeck, and when it comes to Kabbage vs. OnDeck, how they differ. . Personal credit scores. Once money is drawn from the credit line, it must be repaid within six months.

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Is Your AR Generating All the Cash Flow It Should?

Your Virtual Credit Manager

Starting in October, free subscribers will only receive the introductory section of our weekly articles. Plus, you get full access to our growing archive of over 100 articles! To make matters worse, invoice errors also tend to generate payment deductions (partial payments). Offer ends 9/30/23. Subscribe now 2.

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Sole Proprietor vs. LLC vs. S-Corp

CreditStrong for Business

Your net earnings after allowable business deductions are subject to ordinary income tax rates, just like W-2 wages. File the state-appropriate paperwork: Depending on your state, you may need to file forms like articles of organization or a certificate of formation. for Social Security tax, and 1.45% for Medicare tax.

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