Your Virtual Credit Manager

JUNE 18, 2024

Photo by Muhammad Daudy on Unsplash ) The problem with startup companies: there is a high probability they will fail , leaving you with a bad debt on your books. That’s why it is standard to ask on a credit applications the year in which the business was formed. Do you need help managing credit and collections?

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Bad Debt Credit and Collections Credit Risk Credit Card Companies 100

CreditStrong for Business

SEPTEMBER 4, 2024

The trade-off for having your debt eliminated is a long-lasting derogatory mark on your credit report identifying you as a huge credit risk. Your credit report sees the effects of a bankruptcy filing for ten years for a chapter 7 bankruptcy. With a chapter 13 bankruptcy, your credit is affected for seven years.

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CreditStrong for Business

SEPTEMBER 12, 2024

Unfortunately, regardless of the reason, they will affect your credit score. Still, you may be wondering—how long do late payments stay on your credit report? How Different Entries Affect Your Credit Score Equifax , Experian , and TransUnion , the three major credit bureaus, compile the data that creditors report.

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Credit Scoring Credit Card Payments Credit and Collections Bankruptcy 52

Lendio

JANUARY 11, 2023

When it came to collecting on unpaid invoices, that was my first mentor’s mantra. Yet, most of the entities you pay (utility companies, credit card companies, the IRS, etc.) Preparing to send them to collections. At this point, I’m out of options: I contact my collections agency.

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Past Due Invoices Credit and Collections Bad Debt Credit Card Companies 52

Lendio

JULY 18, 2024

While some debt is considered good debt for small business owners—debt that ultimately helps the borrower net more in savings or income—other debt is deemed “bad debt.” Past-due debt, sometimes referred to as “delinquent debt,” falls into this category. What is past due debt?

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Credit Scoring Credit and Collections Bad Debt Credit Card Companies 52

CreditStrong for Business

MARCH 10, 2023

Late payments remain on your credit bureau report and influence your credit score for seven years. Fortunately, there are ways to improve your overall credit profile to offset the adverse results that late payments have on your credit score. What Is Considered as a Late Payment? on the due date are deemed as late.

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