Remove Bankruptcy Remove Credit Reporting Agencies Remove Credit Unions
article thumbnail

RMAI Update August 2024

RMAi Blog

First Credit Union v. Seventh Circuit Rejects Consumer’s FCRA and FDCPA Claims Arising from Post-Bankruptcy Collection and Reporting Freeman v. The consumer filed for bankruptcy and eventually cured her pre-petition mortgage default through her bankruptcy plan payments. T-Mobile USA, Inc., 23-1952, 2024 U.S.

article thumbnail

How Soon Will My Credit Score Improve After Bankruptcy?

CreditStrong for Business

Filing for bankruptcy sets your credit score back significantly, but you can usually begin to recover within a few months and make meaningful progress within a year. Within two years, your credit score could be even better than before you filed. Filing for bankruptcy is a serious setback, but it’s not insurmountable.

Insiders

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

How To Rebuild Credit After a Financial Crisis

Due

Life’s uncertainties—job loss, emergencies, foreclosures, bankruptcies—can severely damage credit. With a commitment to bouncing back, discipline, careful planning, concrete goals, and strategic choices, it is possible to recover from financial troubles and rebuild your credit status.

article thumbnail

Why Did My Credit Score Go Down When Nothing Changed?

CreditStrong for Business

Inaccurate Information on Your Credit Report Consumers should regularly check their current credit bureau reports to assess their overall credit rating and look for any potential errors. Each credit reporting agency will provide you a free copy of your credit report that allows for reviewing your credit history.

article thumbnail

If You Have No Credit, What is Your Score?

CreditStrong for Business

Without any credit history, you don’t fall into any credit range. You’re credit invisible. It wouldn’t be fair at all to lump people who have made no mistakes in with those who have a low credit score because they declared bankruptcy. Most modern credit scoring methods bottom out at 350.

article thumbnail

25 Ways to Get Out of Debt Fast

Due

Also, if you pay your credit card bill regularly, your balance/utilization ratio may decrease. An individual’s credit utilization ratio indicates what percentage of their total available credit they are currently using. Bankruptcy counseling. You can also get free credit counseling through your credit union.