1.Charge-offs Missing your payments for 6 months or more could cause your creditors to deem your account as uncollectible. When this happens, the creditors write that debt off as a loss against their income taxes. Charged-off accounts are allowed to
Since credit and debit payments account for the majority of consumer in‐store purchasing in the United States – is one considered a better option than the other? The debate over which is better to use – credit versus debit –
According to MyFico®, the following information is not evaluated or included when determining your credit score: • Your race, color, religion, national origin, gender or marital status. Additionally, the Equal Credit Opportunity Act prohibits lenders from using this criterion when
Ever wonder what exactly goes into your credit score? The five categories below will outline it all for you. Your Payment History: determines approximately 35% of your current credit score. The credit scoring model is looking to see if you