CreditStrong for Business

FEBRUARY 25, 2025

If a collection account is deleted, does your credit score increase ? The short answer is that it depends on the credit-scoring model used to evaluate your credit. If a collection account appears on your credit, it highlights a crucial issue with your financial health, which you should immediately work to improve.

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Your Virtual Credit Manager

JANUARY 9, 2024

Two weeks ago we recapped the three most read articles from 2023: identifying red flags, understanding why customers pay late, and the secrets of successful collectors. Then last week we looked at credit hold best practices. From a credit management perspective, these are largely reactive topics.

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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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Fundera

MARCH 3, 2019

Online alternative lenders often deduct payments automatically from your bank account. Your Credit Score Will Take a Hit. After you are 30 days late, lenders can report the late payment to the credit bureaus. And a lower credit score makes qualifying for future business loans more difficult.

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Fundera

JULY 22, 2018

Online alternative lenders often deduct payments automatically from your bank account. Your Credit Score Will Take a Hit. After you are 30 days late, lenders can report the late payment to the credit bureaus. And a lower credit score makes qualifying for future business loans more difficult.

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MNS Credit Management Group

DECEMBER 2, 2022

Who are debt collectors? A corporation or agency that recovers money owing on past-due debts is known as a debt collector. Many businesses that owe money to creditors use debt collectors, who work for a fee or a portion of the total amount collected. Another name for a collection agency is a debt collector. Introduction.

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MNS Credit Management Group

SEPTEMBER 24, 2023

Because consumer debt is routinely reported to major credit bureaus like Equifax, Experian, and TransUnion, it may have an effect on a customer’s credit score. Equipment There must be open lines of contact between local collectors, banks, and clients for debt recovery efforts to be fruitful and successful.

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