Due

APRIL 2, 2024

Life’s uncertainties—job loss, emergencies, foreclosures, bankruptcies—can severely damage credit. With a commitment to bouncing back, discipline, careful planning, concrete goals, and strategic choices, it is possible to recover from financial troubles and rebuild your credit status. Bad credit carries numerous disadvantages.

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CreditStrong for Business

OCTOBER 8, 2024

Most utility payments will not appear on your credit report and will not affect your credit. Some services are available that will report utility bill payments, but some only report to one credit agency, and others charge a fee. Does Paying Utilities Build Credit? Sign up for eCredable Lift.

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Credit Scoring Collector Credit and Collections Credit Reporting Agencies 52

CreditStrong for Business

OCTOBER 8, 2024

Building credit is an important part of your financial life. Your credit score determines the loans and credit cards you can qualify for and the interest rates of the loans you can get. What Bills Help Build Credit? What Bills Help Build Credit?

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Credit Scoring Credit and Collections Medical Billing Credit Reporting Agencies 52

tillful

FEBRUARY 2, 2023

Can a checking account help or hurt your credit score? In most cases, the answer is neither — it doesn’t connect to business credit at all. However, there are some exceptions, and credit scoring models may be moving in that direction in the future. Do checking accounts affect your credit score?

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Credit Scoring Credit and Collections Credit Unions Credit Reporting Agencies 52

CreditStrong for Business

MARCH 9, 2023

When making improvements to your credit score, watching for any small movements can be anxiety-inducing. Credit score updates can happen on a daily basis. However, most people won’t notice it change that often because many credit monitoring tools only update credit scores once per month. That’s not entirely true.

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Credit Scoring Credit Reporting Agencies Credit and Collections Credit Card Payments 52

CreditStrong for Business

AUGUST 27, 2024

You’ve taken the time to review your credit report, but some of the information isn’t correct. You may even see an account reporting to your credit that is expired or doesn’t belong to you at all. A credit report mistake could be the cause behind a low credit score. Duplicate credit accounts.

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Credit Scoring Credit Reporting Agencies Credit and Collections Credit Unions 52

CreditStrong for Business

AUGUST 2, 2024

In many cases, a consumer who has seemingly been managing their finances responsibly will notice an unexpected credit score drop. This negative credit score fluctuation is particularly troubling for those concerned with maintaining good credit for an upcoming home or auto loan. 8 Reasons Why a Credit Score Drops 1.

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Credit Scoring Bankruptcy Credit and Collections Third Party Collections 52

CreditStrong for Business

JULY 1, 2024

Building credit is an important part of your financial life. Your credit score determines the loans and credit cards you can qualify for and the interest rates of the loans you can get. What Bills Help Build Credit? What Bills Help Build Credit?

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Credit Scoring Credit and Collections Medical Billing Credit Reporting Agencies 40

CreditStrong for Business

AUGUST 23, 2024

Small business owners looking for a way to finance and organize purchases will want to know how to get a business credit card. In addition to having the application information ready in advance, you’ll want to know how both personal credit and business credit scores are considered for approval. Why do they ask this?

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Credit Scoring Credit and Collections Credit Reporting Agencies Small Businesses 52

Due

OCTOBER 23, 2023

trillion in debt , with an average household debt of $101,915 Additionally, the Federal Reserve Bank of New York reports Americans’ total credit card debt was $1.031 trillion in the second quarter of 2023. Get your credit card statements, car loan statements, and medical bills together. Put an end to borrowing. The reason?

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Credit and Collections Credit Scoring Bankruptcy Credit Card Payments 52

Fundera

AUGUST 8, 2018

Even so, you likely are aware of another financial reporting system that operates in much the same way: your personal credit report. In addition to listing individual infractions on your ChexSystems report, the agency also calculates a “Consumer Score” on the basis of the reported information.

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Fundera

SEPTEMBER 27, 2019

To open a business checking account online with no ChexSystems report run on your financial history, you have a few options—BBVA Compass Bank, Chime Bank, as well as a handful of local banks—although many local banks will require you to apply for an account in-person. Chime Second Chance Banking.

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Credit and Collections Credit Reporting Agencies Small Businesses Credit Unions 57

RMAi Blog

MARCH 14, 2025

The ANPR on coerced debt seeks to broaden the definitions of identity theft and identity theft report under Regulation V to address coerced debt scenarios, such as those arising from domestic violence or elder abuse. RMAI feels the $5,000 threshold is excessive and would essentially end bank garnishments as a collection tool in Virginia.

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RMAi Blog

JANUARY 14, 2025

In This Update Last week the CFPB released its final rule on removing medical debt from credit reports. Among the new regulatory restrictions, the final rule states that creditors can no longer use medical debt information in credit eligibility determinations unless specific exceptions apply. New York A.1356

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RMAi Blog

NOVEMBER 13, 2024

Ninth Circuit Affirms Ruling for CRA in Medical Debt Case; Vacates Ruling for Collection Agency Riser v. 7, 2024) A consumer incurred medical debt that was sent to a collection agency that reported it to a credit reporting agency (“CRA”). Portfolio Control, Inc. , 23-35502, 2024 U.S.

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