Better Credit Blog

JANUARY 29, 2021

Credit applications result in hard inquiries, which allow lenders to access your credit reports. Microbilt is a third-party credit report provider that helps lenders assess how risky prospective borrowers are. They occur when you apply for credit, and they allow lenders access to all the data in your credit reports. Charge offs.

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Better Credit Blog

AUGUST 7, 2020

Synchrony offers several financial products, from CDs, MMAs, and IRAs to credit cards and loans through partnerships with other lenders. As long as a hard inquiry is on your credit profile, it can drop your score and hurt your chances of getting approved when you apply with lenders in the future. Property repossession.

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Better Credit Blog

DECEMBER 31, 2020

A hard inquiry is simply a way for a lender to check your credit reports before approving your application. A hard credit check lets the lender see your full credit report, which can give them insight into your history as a borrower. Repossessions. Have a hard inquiry on your credit report from Comenity Bank/VCTRSSEC?

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Better Credit Blog

NOVEMBER 19, 2020

It occurs when you complete the application process for a loan or a credit card, allowing the lender to see your actual credit report. Your credit report paints a clearer picture of how you’ve used credit in the past to help lenders determine whether or not they should approve your application. Repossession. Charge offs.

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Better Credit Blog

DECEMBER 2, 2020

Lenders access your entire credit report from Experian, Equifax, TransUnion, or all three bureaus. Your credit report gives lenders a better idea of your previous credit use to help them decide if you’re a reliable borrower. Repossessions. Hard Inquiries. A hard inquiry is more invasive. Charge-offs. Collection-stage debt.

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Better Credit Blog

DECEMBER 2, 2020

Lenders access your entire credit report from Experian, Equifax, TransUnion, or all three bureaus. Your credit report gives lenders a better idea of your previous credit use to help them decide if you’re a reliable borrower. Repossessions. Hard Inquiries. A hard inquiry is more invasive. Charge-offs. Collection-stage debt.

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Better Credit Blog

DECEMBER 23, 2020

But soft inquiries allow you, lenders, and other companies to check your credit score without approving you for an actual loan application. This type of inquiry lets lenders access your full credit report, using your history with credit to determine whether or not they should approve your application. Repossession. Foreclosures.

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Better Credit Blog

FEBRUARY 17, 2021

Collections accounts appear on your credit report when you fall behind on payments to a lender or a service provider. These agencies either work on behalf of your original lender or service provider, collecting a fee, or they buy your debts outright at a deeply discounted rate. Repossession. It’s worth a shot. Charge-offs.

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Better Credit Blog

DECEMBER 31, 2020

They allow lenders to get an inside look at how you’ve utilized credit in the past, helping them to determine whether or not you’re a responsible borrower. Whenever you submit an application, you’re authorizing the lender to obtain a copy of your credit report(s). Repossessions. Late payments. Identity fraud. Charge-offs.

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Better Credit Blog

DECEMBER 9, 2020

Hard inquiries happen whenever you apply for funding from a bank, retailer, or lender. These credit pulls let lenders, landlords, and employers take an in-depth look at your credit usage, granting them access to your full credit report. This guarantees that your interactions with the bureau and lenders are well-documented.

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Better Credit Blog

DECEMBER 30, 2020

Most of the time, a hard inquiry from a lender or service provider is nothing to panic over. When you get pre-qualified for financing from Dell or any other lender or creditor, all that’s involved is a soft inquiry. Do you dread the task of filing disputes and contacting lenders about hard inquiries? Repossessions.

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Better Credit Blog

AUGUST 21, 2020

But what score do lenders consider to be good? Repossessions. VA loan No minimum from VA; lenders may require a 580 or 620. USDA loan No minimum from USDA; lenders will likely require a 640. Cars are riskier to finance for lenders. To compensate for that risk, lenders charge high-interest rates. Bankruptcy.

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Better Credit Blog

FEBRUARY 12, 2021

EPR may show up on your report if you’ve fallen behind on payments to a service provider or a lender. While you may not be familiar with the agency, they collect for popular lenders and providers across several markets. Any time you miss a payment, your lender will contact you to collect. Repossessions. Commercial.

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BN Lawyers

MARCH 23, 2020

Most creditors (lenders, suppliers, employees) will be aware of the distress facing the entire service industry. A lender may be willing to forbear payments in exchange for extending repayment out over an additional six-months to avoid forcing your business into bankruptcy. High Priority: Critical Vendors, Secured Lenders, and Lessors.

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Better Credit Blog

JANUARY 6, 2021

Hard inquiries let lenders obtain your credit report(s). This could also deter prospective lenders from approving your applications. Dealing with lenders and credit bureau representatives regarding fraudulent inquiries can be a hassle. Repossessions. For example, they would notify you of suspected fraud and new entries.

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Better Credit Blog

DECEMBER 29, 2020

A soft inquiry provides lenders with an overview of your credit, letting them pre-approve you for offers. Lenders can obtain one, two, or all three of your reports when you apply for a card. When you constantly apply for new cards, it can signal that you’re a risk to lenders. Repossessions. Here’s how that works.

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Better Credit Blog

DECEMBER 28, 2020

They let lenders access your complete credit report, which they use to assess your creditworthiness. While some lenders only look at one report, others may access all of them to get a clearer picture of your credit history. Repossessions. They’re used any time you actually apply for a new loan, credit card, or line of credit.

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Better Credit Blog

JANUARY 21, 2021

Anytime you apply for a card, the lender requests access to at least one, and sometimes all, of your credit reports. Several inquiries can be a red flag to potential lenders, so you should check into the approval requirements before applying for some cards and loans. Property repossessions. Charge offs. Delinquent payments.

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Better Credit Blog

DECEMBER 31, 2020

With a hard inquiry, a lender might access one, two, or each of your three credit reports. That being said, having several hard inquires can suggest that you rely pretty heavily on loans and credit cards and could make you a less appealing applicant to future lenders. Repossession. The good news? Bankruptcy. Charge offs.

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Better Credit Blog

NOVEMBER 30, 2020

This type of inquiry is more exhaustive and gives your prospective lender access to your entire credit report. That information helps lenders to assess how responsible of a borrower you are, often serving as the main determining factor in whether or not your application gets approved. Repossessions. Charge offs. Foreclosure.

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Better Credit Blog

FEBRUARY 4, 2021

When you fall behind on payments, your lender or service provider will make multiple attempts to contact you. Are hired to help the original lender collect the debt. In addition to dealing with collections agencies, they can also handle: Repossessions. Ask Lex Law for Help. How Delivery Financial Services Works. Identity fraud.

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Burr Forman

DECEMBER 4, 2020

Financial institutions, servicers, lenders, and debt collectors must stay up-to-date on evolving federal and state laws stemming from the COVID-19 pandemic, as such laws impact all facets of consumer loan servicing and debt collection. Colorado – On June 29, 2020, the Colorado legislature enacted Senate Bill 20-211.

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Better Credit Blog

OCTOBER 21, 2020

TU Interactive is most likely on your report because it was used by a lender or creditor in their vetting process. Repossession. If you recently applied for credit, a hard pull could have been done on your TransUnion report. TU Interactive subscribers can contact the company with questions at (855)-681-3196. Charge-offs. Collections.

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Better Credit Blog

DECEMBER 18, 2020

A soft inquiry or credit pull occurs when you take a look at your score online using a credit monitoring app , or when prospective lenders check your score to pre-approve you for certain loans or card offers. It allows lenders to gain access to your full credit reports from one or more of the credit bureaus. Repossessions.

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Better Credit Blog

FEBRUARY 25, 2021

When you fail to keep up with payments to a service provider or lender, they often hand your debts off to collections agencies. These agencies might buy your debts for pennies on the dollar or get paid to help the original lender/provider collect. They can also assist you with credit problems such as: Judgments. Repossessions.

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Better Credit Blog

DECEMBER 28, 2020

Whenever you apply for a loan, line of credit, or credit card, the lender or creditor will want to see your credit report to get an idea of how responsibly you’ve used credit in the past. In other words, prospective lenders won’t penalize you for having a few hard inquiries here and there. Repossessions. Charge-offs.

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Better Credit Blog

DECEMBER 28, 2020

A potential lender pre-approves you for certain offers. Repossessions. Whether you were approved or not, a credit card application isn’t likely to keep future lenders from approving you for credit or loans. How Does a WF Crd Srv Hard Inquiry Impact Your Credit Report? Hard inquiries differ from soft inquiries in a few ways.

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Better Credit Blog

OCTOBER 5, 2020

If you forgot to pay a bill or you’ve gotten behind on payments to a lender or service provider, it can have some nasty effects on your credit. Repossessions. Has your credit score recently taken a dive as a result of a collections entry from Penn Credit? Bankruptcies. Identity theft.

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Better Credit Blog

FEBRUARY 24, 2021

Whenever a lender or company like your phone or internet provider doesn’t receive a payment from you, they may eventually hire a collections agency for assistance. Moreover, they’ll assist you if you’re facing other credit problems, such as: Judgments. Repossessions. Retail cards. Telecommunications. Foreclosure. Bankruptcy.

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Debt Free Colorado

MARCH 3, 2023

For ten years after filing for bankruptcy, lenders will be more reluctant to extend credit, and it may even be challenging to get employment. A court judgment that states that a person is not required to pay back some debts is given to those who abide by the bankruptcy laws and are granted a discharge. What Can’t Bankruptcy Do?

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Better Credit Blog

FEBRUARY 15, 2021

If you miss a payment, your landlord, cable provider, lender, or bank will contact you repeatedly to seek repayment. Repossessions. If you are overwhelmed by dealing with negative entries on your credit report, we suggest you ask a professional credit repair company for help. Ask Lex Law for Help. How FCO Collections Works.

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Better Credit Blog

FEBRUARY 24, 2021

Whenever a lender or company like your phone or internet provider doesn’t receive a payment from you, they may eventually hire a collections agency for assistance. Moreover, they’ll assist you if you’re facing other credit problems, such as: Judgments. Repossessions. Retail cards. Telecommunications. Foreclosure. Bankruptcy.

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Better Credit Blog

JANUARY 27, 2021

Rather than verifying your score, they let lenders and service providers see your credit reports in their entirety, giving them a comprehensive look at your credit history. A credit report with several hard inquiries at once can signal financial instability to potential lenders. Repossessions. Hard Inquiries. Bankruptcy.

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Better Credit Blog

JANUARY 5, 2021

Credit checks allow prospective lenders, banks, employers, and landlords to see your credit reports. Depending on how many reports a lender chooses to factor into its approval process, any or all of your credit reports could be affected. Repossession. Ask Lex Law for Help. How Do Hard Inquiries Work? Charge offs. Bankruptcy.

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Better Credit Blog

JANUARY 5, 2021

A hard inquiry could impact any of your credit scores, as some lenders only rely on one or two reports while others utilize all three. Before filing a dispute or putting a fraud alert on your credit reports, it can be helpful to contact the original lender. Repossessions. In this case, the source is Comenity Bank. Late payments.

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Better Credit Blog

JANUARY 5, 2021

Credit checks allow prospective lenders, banks, employers, and landlords to see your credit reports. Depending on how many reports a lender chooses to factor into its approval process, any or all of your credit reports could be affected. Repossession. Ask Lex Law for Help. How Do Hard Inquiries Work? Charge offs. Bankruptcy.

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Collection Industry News

JULY 20, 2020

An investigation by ProPublica found that court judgments in debt collection lawsuits were twice as high in black communities compared to mostly white neighborhoods. Debt collection activities, including legal proceedings, garnishments, repossessions, and debt selling, must be prohibited during the state of emergency.

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