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Derogatory Public Record or Collection Filed? Here’s What It Means For Your Business

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How long do collections and other derogatory marks stay on your business credit reports ? While the Fair Credit Reporting Act only allows consumer credit reporting agencies to show negative information like lawsuits, judgments, charge-offs, and collection actions for seven years, the law doesn’t apply to business debts.

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Online Credit Reports & How They Are Tracking Everything You Do

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There are dozens of places where you can obtain your credit report. The three big credit bureaus, however, are Equifax®, Experian®, and TransUnion®. Often referred to as credit reporting agencies, these companies work independently. Credit Reports vs. Credit Scores.

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How To Rebuild Credit After a Financial Crisis

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When you understand the components of your credit score , you can find out what’s been bringing it down. With this review, you can also monitor and confirm whether your bankruptcy has been removed from your report as soon as possible. In the US, it’s after ten years under a Chapter 7 and seven years after a Chapter 13 bankruptcy.

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How Long Do Late Payments Stay on Your Credit Report?

CreditStrong for Business

Most negative information such as late credit card payments, collection agency activity, and other missed payments toward debts remain on your credit report for seven years. Bankruptcy is an exception that may remain on your credit bureau report for up to 10 years. What Is Considered as a Late Payment?

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How to Rebuild Credit [Plus What NOT to Do] – CreditStrong

CreditStrong for Business

In the meanwhile, consumers should make timely payments on all available credit accounts and use strategies to rebuild credit. 7 Strategies to Rebuild Credit The first step for rebuilding credit involves obtaining a recent copy of your credit report.