CreditStrong for Business

JULY 29, 2024

The negative credit report entry will also have an adverse impact on your credit scores. The credit score of an individual with otherwise good credit will typically decline somewhere in the range of 100 points after the unpaid collection debt becomes formally factored in by the credit reporting agency.

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CreditStrong for Business

JULY 24, 2024

It can be nail-biting to wait for your credit score to update after paying off debt. Especially if that bump in your score is helping you get approved for a new car loan, mortgage, or revolving credit account. In some cases, it can take up to two months for your credit score to reflect the payoff.

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CreditStrong for Business

OCTOBER 8, 2024

Missing utility payments can hurt your credit. Your utility provider won’t report missed payments, but they may sell your account to a debt collector. The collector will report a collection account, which can then do serious damage to your credit. What Bills Affect My Credit Score?

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Fundera

SEPTEMBER 18, 2018

When a credit bureau computes your credit score, their job is to produce a number that estimates—given your past and current financial history—how likely you are to default on future debts. There are five notable components of a personal credit score. There are five notable components of a personal credit score.

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CreditStrong for Business

SEPTEMBER 12, 2024

The company that has furnished or reported unpaid debts or other forms of adverse payment history to the credit bureaus is typically a third-party debt collector; however, it might be the original lender associated with the debt such as a bank or credit card company. Can I Fix My Credit By Myself?

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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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