Just like personal credit scores, businesses must have a strong credit history, a positive payment history, and a good financial track record in order to operate successfully. This guide provides detailed information about how to establish and build credit as a business owner.
Depending on how you do it, debt consolidation can impact your credit either positively or negatively. Debt consolidation done right has a minimal negative impact on your score and can actually help it in the long run. Here’s how to consolidate debt, such as multiple credit card accounts, before it’s too late.
Canceling credit cards can hurt your credit score. While there are some valid reasons for canceling a card – such as a high annual fee – be careful about closing old accounts because doing so can cause your credit score to drop. Closing cards also won't remove negative information from your credit report, so don't close cards to try to clean up your credit.
Being delinquent on your alimony payments likely won’t affect your credit score – at least right away. If your payments are sent to collections, that may be reported to the credit bureaus in which case your score would take a hit.
Being delinquent on your child support payments likely won’t affect your credit score – at least right away. If your balance is sent to collections, that may be reported to the credit bureaus in which case your score would take a hit.
If your Verizon account has been sent to collections and is negatively impacting your credit score, you might have options to remove the negative mark. Here’s how to take the proper steps to resolve the problem.