Collections Consumer Credit Credit Bureau Personal loans 
Fico Collections
APRIL 28, 2022
BNPL loans are cited as a potential driver of greater financial inclusion, both in terms of consumer access to the BNPL loan themselves, as well as access to credit products that could enable unbanked and underbanked consumers to establish (or re-establish) their credit histories with one or more of the Consumer Reporting Agencies (CRAs). .
Collection Industry News
JANUARY 12, 2023
Credit card balances reached a record-setting $866 billion in the third quarter of last year, which represents a year-over-year increase of 19%. Credit balances reached a record-setting $866 billion in the third quarter of last year – and they are expected to keep climbing, the report from TransUnion said.
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Fico Collections
DECEMBER 4, 2020
To further enhance flexibility and predictive power, the addition of FICO® Score 10 T incorporates trended credit bureau data. FICO® Score 10 and 10 T provide a precise assessment of consumer credit risk on all credit product lines, including mortgages, auto loans, credit cards and personal loans.
Fico Collections
AUGUST 29, 2022
As the independent standard in credit scoring, FICO® Scores are the leading credit scores used extensively across the lending ecosystem ranging from originations, underwriting and account management to collections and asset-backed securitization. consumer reporting agencies (CRAs). in April 2022.
Fico Collections
OCTOBER 28, 2022
Information and data continue to be key tools at our disposal to better understand the dynamics of the last couple of years, and better navigate what lies ahead for the Canadian consumer credit environment. Comparing Canadian credit bureau data between April 2021 to April 2020, we saw a notable decrease in missed payments.
Better Credit Blog
APRIL 5, 2022
A collection account will lower your credit score and can generally stay on your credit report for up to seven years. Often, a collection entry will even keep you from getting a mortgage or securing an auto loan, which is why it’s important to do all you can to remove collections from your credit report quickly.
Fico Collections
JUNE 20, 2022
How Might Buy Now, Pay Later Loans Impact FICO® Scores? Key findings from FICO research on consumer credit files with recently opened Buy Now, Pay Later loans. consumer credit files. But on the other hand, adding positive BNPL payment data in the consumer credit file could help the FICO® Score.
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