Category: Credit

Going through a divorce can be incredibly difficult and stressful, influencing everything from your credit score to other aspects of life. The division of assets, liabilities, and alimony can have a major effect on your financial security, influencing your capacity to get loans, obtain a house, or even secure credit. In order to ensure your […]

Dealing with credit can be difficult, so it’s important to consider the repercussions of closing a credit card account. Your creditworthiness is determined by your credit score, and it can be impacted by things like your credit utilization ratio, the average age of accounts on your credit report, and the total number of open accounts. […]

Credit bureaus play a crucial role in determining credit scores. In the US, Equifax, Experian, and TransUnion are the three main credit reporting agencies. These companies use collected consumer credit data to generate credit reports, which are used as the foundation for credit scores. Knowing how credit bureaus work and the data they collect is […]

What is a Tax Lien and How Does it Affect My Credit Score? When taxes are not paid, the government can place a lien on a property or asset as payment. Different types of taxes that can be paid include income and property taxes. Tax liens can have a major impact on individuals and businesses, […]

An persons credit mix, which includes mortgages, loans, and credit cards, is taken into consideration when calculating their credit score. The amount of impact it has may depend on the credit scoring model used. Different types of credit accounts are beneficial for establishing and maintaining a good credit score. To prove financial responsibility, lenders and […]

Introduction Missing or delaying payments can dramatically lower your credit score by up to 180 points and stay on your report for 7 years, so making on-time payments is essential in keeping a good credit score. Lenders generally only report late payments after 30 days have passed, thus ensuring that your credit score won’t be […]

Can You Improve Your Credit After a Bankruptcy? Deciding to file for bankruptcy can be tough and have a long-term effect on your credit score. It’s essential to understand that this damage is not lasting and will reduce with time. While you wait, there are strategies for increasing your credit score. To start fixing your […]

Introduction The COVID-19 pandemic has had a significant impact on the global economy, leading to widespread job loss, financial hardships, and economic uncertainty. One of the areas that has been affected by the pandemic is credit scores. A credit score is a numerical representation of an individual’s creditworthiness, and it is used to determine their […]

Credit plays a major role in personal finance, which can affect your chances of getting loans, credit cards, and even an apartment or job. Factors such as payment history, credit utilization, and credit mix are used to determine your credit score, a numerical representation of your financial background. Establishing and keeping a good credit rating […]

A Foreclosure is a legal action that occurs when someone hasn’t paid their mortgage and the lender takes control of the property. This form of debt collection can have a devastating effect on a person’s credit score, making it hard for them to get loans, rental agreements, and even regular credit cards. A foreclosure can […]