If you have a car loan, the lender holds the vehicle title as collateral. If you fall behind on the payments, the lender may reclaim the vehicle. A repossession will usually act as a devastating force on your credit score. We will explain some of the best remedial strategies for your credit following repossession. How

The term “derogatory” implies that something is negative. It is an expression that detracts from an otherwise high opinion or good character. On a consumer’s credit report, a derogatory entry has an adverse effect on a credit score. Prospective lenders perceive derogatory accounts as “red flags.” What Does Derogatory Mean? The three primary consumer credit

Lenders will repossess vehicles from consumers who fall behind on their car payments. The associated negative entry will remain on your credit report for up to seven years.  But in response to a formal written request, lenders might remove the derogatory entry from your credit report as a goodwill gesture. Can a Lender Remove a

Most know that personal credit scores affect your ability to get a loan or rent an apartment.  But some may not know that businesses have credit scores as well.  Navigating today’s business landscape relies on having excellent, all-around credit.  Many businesses rely upon their credit to secure financing as they scale. Whether you need a

Good business credit is crucial to running your own business.  But what exactly constitutes a good business credit score? How do you know if you’re on track or what to do if you find that your score is lower than it needs to be?  In this guide, we’ll take a closer look at the various

3 Ways You Can Add Tradelines to Your Credit Report Tradelines are types of accounts that appear on consumer credit reports. The three primary credit bureaus are Experian, Equifax, and TransUnion. Lenders usually report tradelines automatically after a consumer opens a credit card, auto loan, or other account. The tradelines that compose your credit history

A tradeline is an entry that appears on your credit report when a consumer opens a new credit account. Experian, Equifax, and TransUnion are the three primary credit reporting bureaus.  Each credit account has a tradeline. Tradeline legality usually applies to the controversial practice of “buying” or “renting” them. How Buying Tradelines Works    The

A tradeline is a listing on a credit report that appears after opening a loan, credit card, or other account. The major credit reporting bureaus include Equifax, Experian, and TransUnion.  Each tradeline represents a component of a consumer’s full credit history (profile). FICO and VantageScore use tradeline data when calculating consumer credit scores. What Are

A tradeline is a term referring to a credit account that appears on a consumer credit report.  After adding a new tradeline, an entry should appear on the report within 45 days, but this depends on many different factors. What Happens After You Buy a Tradeline? Consumers looking to quickly boost credit scores often consider