CreditStrong for Business

SEPTEMBER 4, 2024

Making the decision to file for bankruptcy is far from easy. 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.

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CreditStrong for Business

OCTOBER 24, 2024

However, in 2009 legislators passed the Credit Card Accountability Responsibility and Disclosure Act of 2009 (Credit CARD Act), which might make qualifying more challenging. One provision of the Credit CARD Act requires that issuers of cards assess an applicant’s capability of repaying any debt incurred.

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Bankruptcy Credit Scoring Credit and Collections Credit Unions 52

CreditStrong for Business

NOVEMBER 7, 2024

Carefully review your credit history for any potential errors that might hinder you from achieving a good credit score. The first option involves directly contacting the lender regarding the potential error on your payment history, such as a credit card company or student loan issuer.

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Credit Scoring Credit and Collections Credit Reporting Agencies Credit Card Companies 40

CreditStrong for Business

AUGUST 2, 2024

Lenders perceive consumers with high credit utilization ratios as potential credit risks, as they may be “overextended.” According to Experian, credit utilization ratios of less than 30% are typically considered as good. Other documentation: Evidence of bankruptcy filings, canceled checks, and others.

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Credit Scoring Bankruptcy Credit and Collections Third Party Collections 52

CommandCredit

OCTOBER 11, 2021

Experian gathers data from lenders and suppliers, credit card companies, collection agencies, banks, and public filings. In addition to the business credit score , you can also get: Financial stability risk ratings Banking, trade, and collection history Liens, judgments, and bankruptcies Credit limit recommendations.

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Credit Scoring Credit and Collections Credit Reporting Agencies Bankruptcy 40

Fundera

SEPTEMBER 1, 2017

A short list of factors affecting your score also includes: Credit utilization ratio. Length of credit history. Public records that include bankruptcies and judgements. Company size. Risk factors in your industry. Most of these bullet points make up what it takes to have a strong personal credit score, too.

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Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 70

Fundera

JULY 12, 2016

A short list of factors affecting your score also includes: Credit utilization ratio. Length of credit history. Public records that include bankruptcies and judgements. Company size. Risk factors in your industry. Keep your credit utilization at around 25% to keep creditors happy. . Payment history.

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Credit Scoring Credit and Collections Bankruptcy Credit Card Companies 75