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If a Collection Account Is Deleted, Does Your Credit Score Increase—Answered

CreditStrong for Business

A collection account is a record on your credit report that notifies lenders and other financial institutions that you have defaulted on paying a debt. The other widely used version, FICO Score 8, does not ignore paid collections or medical bills. You may choose to wait out the seven years.

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RMAI Update March 2023

RMAi Blog

Maryland HB 127 – This bill would prohibit a district court in aiding in the enforcement or execution of a small claims money judgment by ordering an individual to appear for an examination or answer interrogatories. RMAI, the creditor’s bar, and the judiciary oppose this bill. A veto this year would be less likely.

Collector 100
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13 Surprising Factors That Affect Your Credit Score (and Why Small Business Owners Should Care)

Fundera

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. Unlike the IRS, your local municipality might report your unpaid tax bill directly to a debt collector. Utility Bills.