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.

Credit Scoring 52

Credit Scoring Credit and Collections Medical Billing Collector 52

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. How Credit Bureaus Calculate Your Credit Score.

Credit Scoring 93

Credit Scoring Small Businesses Credit and Collections Collector 93

Fundera

JULY 22, 2018

Default vs. Delinquency. Loan defaults and delinquencies both stem from overdue loan payments. If you miss several payments or can’t make payments for an extended time (usually 90 to 120 days), the lender will place the loan in default and can start collection proceedings against you. Your Credit Score Will Take a Hit.

Default 59

Default Collector Credit and Collections Credit Scoring 59

Fundera

MARCH 3, 2019

If you miss several payments or can’t make payments for an extended time (usually 90 to 120 days), the lender will place the loan in default and can start collection proceedings against you. Both delinquencies and defaults damage your credit. Your Credit Score Will Take a Hit.

Default 59

Default Collector Credit and Collections Credit Scoring 59

MNS Credit Management Group

JULY 12, 2023

A person’s credit score is negatively impacted by a thin profile. Alternative credit scoring may offer a remedy in certain circumstances. For instance, when adopting alternative scoring, some individuals with strong traditional credit scores may raise red signals. Risks do exist, though.

Bad Debt 52

Bad Debt Collector Debt Collections Credit and Collections 52

Fundera

MAY 25, 2017

This is why it’s important for business owners to stay abreast of how their personal credit score can affect their ability to get credit for the purposes of funding their business’ operating costs. Fortunately, some changes coming down the pipeline could positively affect millions of Americans’ credit scores.

Credit Scoring 74

Credit Scoring Credit and Collections Collector Credit Application 74

Lendio

NOVEMBER 29, 2022

It’s important to understand that P2P platforms are not lenders themselves. Is Peer-to-Peer Lending Safe? Small Business Administration (SBA) notes that peer-to-peer loans could be a practical alternative financing solution for small businesses.

Credit and Collections 72

Credit and Collections Collector Credit Scoring Small Businesses 72