Your Virtual Credit Manager
OCTOBER 15, 2024
Over the next couple of years, many more companies are expected to file bankruptcy chapter 7 liquidations, or simply close their doors for good. This forecast aligns with rising corporate bankruptcies, stricter bank loan standards, and increasing consumer debt and delinquencies.
CreditStrong for Business
AUGUST 23, 2024
When VA borrowers default, the VA reimburses their private lenders for a significant portion of their mortgage balances. You usually have to wait four years after filing Chapter 7 and two years after the discharge of Chapter 13 to get one. How Does Having a Good Credit Score Affect the Rates and Terms of a VA Loan?
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CreditStrong for Business
AUGUST 20, 2024
Similarly, Chapter 7 bankruptcy will cost you more points than Chapter 13 since the latter involves paying off a higher portion of what you owe. The two most common types of consumer bankruptcy are Chapter 7 and Chapter 13, named for their respective sections in the United States Bankruptcy Code.
Your Virtual Credit Manager
AUGUST 11, 2024
Chapter 11 filings, used by businesses hoping to reorganize, have increased by 34 percent in the first six months of 2024 compared to last year. Chapter 7 commercial liquidation filings are up 28 percent and sub-chapter V small business elections are up a staggering 61 percent despite the filing threshold recently being cut in half.
CreditStrong for Business
APRIL 3, 2023
When VA borrowers default, the VA reimburses their private lenders for a significant portion of their mortgage balances. You usually have to wait four years after filing Chapter 7 and two years after the discharge of Chapter 13 to get one. How Does Having a Good Credit Score Affect the Rates and Terms of a VA Loan?
Due
DECEMBER 2, 2023
It would also include the number of times you’ve applied for credit or your “hard inquiries,” your repayment history and record of derogatory marks for late payments and defaults, and the types of credit in your report. This practice protects service providers against the possibility of defaults on monthly bills.
tillful
MAY 17, 2023
A derogatory mark on a credit report refers to a negative item such as a late payment, a loan default, a repossession, or a foreclosure. ❗Important: While the original creditor is no longer trying to collect the payment from you, you’re still legally obligated to pay the debt. What is a derogatory mark on a credit report ?
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