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.

Credit and Collections 130

Credit and Collections AR Aging Accounts Receivable (AR) Deductions 130

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.

Credit Scoring 72

Credit Scoring Bankruptcy Credit and Collections Chapter 7 72

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?

Credit Scoring 52

Credit Scoring Collector Credit and Collections Credit Reporting Agencies 52

CreditStrong for Business

SEPTEMBER 12, 2024

Next, the credit repair company communicates with either the credit bureaus or the companies that reported the negative information associated with any debt. Experian states how some unscrupulous companies in the past tarnished the credit repair industry’s reputation. Ask your credit repair company about their expectations.

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Collector Credit Scoring Bankruptcy Credit Reporting Agencies 52

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. Unfortunately, derogatory marks cause your credit scores to drop and alert future creditors that you present a higher credit risk. What is a derogatory public record ?

Bankruptcy 52

Bankruptcy Credit and Collections Credit Reporting Agencies Credit Scoring 52

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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Debt Collections Credit and Collections Collector Credit Management 52

Fundera

JULY 23, 2019

Businesses at risk for a high number of chargebacks or fraud, those with poor credit scores, those based outside of the U.S. While they’re not the only quote-based company, there is a history of high-risk businesses being presented with unfavorable pricing or contracts because they have fewer options.

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Credit and Collections Collector Transactions Credit Card Payments 40