Author Topic: Certainly, many items can influence your credit report and tank your own score  (Read 36 times)


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Our invoices vary from credit card payments, mortgages, phones, and utility payments. Basically, loan issuers would come to their own money if you don't make payments on time. Every collection adds to your credit report and can cripple your loan negotiation capability. At the most recent FICO models, paid collections will not hurt your score, but outstanding ones certainly will. If among your account goes into group, your credit score plummets depending on a few components. If your score is high, you'll lose more points than someone with a small number of points. If you skip a payment, your lender would report it to the bureaus as"late payment." But if you don't pay penalties or bring your accounts to standing, you may experience a collection. Instantly you encounter a collection; your credit score would drop drastically. Resolving a collection is a painstaking process, hence making timely payments is always an ideal way.

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