Collections

When an account becomes seriously past due, the creditor may decide to turn the account over to an internal collection department or to sell the debt to a collection agency.

Bankruptcies

  The impact of bankruptcy on a credit report can be devastating and entirely depends on your credit score prior to filing. According to FICO’s published Damage Points guidelines, the effects range

Inquiries

What is a hard inquiry? Hard inquiries (also known as “hard pulls”) generally occur when a financial institution, such as a lender or credit card issuer, checks your credit when

Repossessions

When you take out a loan on a new car, boat, motorcycle, or other type of possession, it essentially becomes collateral or security for the loan. The bank or lender specifies when

Charge Offs

“Charge off” means that the credit grantor wrote your account off of their receivables as a loss, and it is closed to future charges. When an account displays a status