CreditStrong for Business

AUGUST 9, 2024

FICO, the model used by the majority of lenders, generates credit scores using the FICO® Score 8 version with a range beginning at 300 up to an 850 maximum score. However, certain industry-specific FICO credit score versions use a 250 to 900 range. Given that, 300 is often the lowest credit score.

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CreditStrong for Business

SEPTEMBER 12, 2024

Public records include filings in local, state, or federal courts or other community resources that have traditionally appeared on consumer credit reports. Equifax, Experian, and TransUnion are the major credit bureaus or credit reporting agencies that collect and report this information.

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Lendio

MAY 9, 2024

Some will require waiting seven years when the bankruptcy will be removed from your credit report. Others will consider your application within two to three years after the bankruptcy is closed if you’ve rebuilt your credit score. Type Description Chapter 7 Known as “liquidation bankruptcy.”

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Due

APRIL 2, 2024

Bankruptcy will likely exacerbate any credit issues, causing an initial drop of about 100 to 200 points in your credit score. Getting on top of your financial woes and rebuilding credit as soon as possible is vital to financial recovery. Hence, in the process of rebuilding your credit, you cannot afford a late payment.

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CreditStrong for Business

NOVEMBER 7, 2024

Prospective homebuyers seeking a mortgage loan may use several strategies for improving low credit scores. Examples include reviewing credit bureau reports for possible credit account errors, avoiding late payments, paying down debt, and getting a credit builder loan.

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CreditStrong for Business

SEPTEMBER 17, 2024

Each credit reporting agency will provide you with a free copy annually and offer easy ways of disputing any errors that are contributing to your low credit score. When checking your report, ensure the information on it is accurate. Consumers actively rebuilding credit must pay all current credit accounts on time.

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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? Still, you may be wondering—how long do late payments stay on your credit report? How Does a Late Payment Affect Your Credit?

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