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What is Debt Consolidation and How Does it Work?

Better Credit Blog

Debt consolidation is when you bundle several debts together into one larger sum and then make a single monthly repayment instead of multiple smaller ones. Consolidating debts with different interest rates and repayment schedules can make it easier to manage your finances. Debt Consolidation Guide.

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Understanding Why You Have So Many Different Credit Scores

Titan Consulting

Due to the fact that not all companies report to all three credit bureaus, there are often differences in the information retained by each credit bureau. Credit scoring companies like FICO rely primarily on the information contained in the credit report, which can result in a different credit score for each credit bureau.

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How to Use Alternative Data to Build Your Credit Report

Titan Consulting

Rent Bureau , now owned by the credit bureau Experian, electronically compiles rental data from property management companies and individual landlords. Rental agencies and alternative credit providers use the data to screen applicants and establish consumer credit scores.

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Top Challenges Consumer Face When Using Alternative Credit Scoring Systems

Titan Consulting

Even though all these companies review credit to determine deposit requirements, they do not report on-time payments to the credit bureau because it is not considered debt. To address these disparities, some lenders now accept credit scores like the FICO XD , which uses alternative data.

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Paying Bills Later: Considering Financial Consequences of Delayed Payments Due to COVID-19

Titan Consulting

Contacting the company by phone is the only way to get help, which typically includes the following: waived payments, interest, and penalties, along with suspended credit bureau reporting. In some cases, the company could extend the credit line. However, aid is not automatic or uniform. About Titan Consulting Group.

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7 Reasons Your Credit Score May Suddenly Drop, Even if You Never Miss a Payment

Titan Consulting

However, skipping a payment before getting an approved forbearance will result in a delinquency reported to the credit bureau. You increased credit card spending in a manner not typical of your prior spending history. In most cases, lenders continue to report the account as current.

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5 Best Credit Repair Companies – Updated April 2022

Better Credit Blog

A good credit repair agency should start out by determining exactly which items they can help you with. Doing this typically requires a copy of a credit report from each credit bureau — TransUnion, Experian, and Equifax. But don’t expect the same level of care you can find from a paid credit repair service.