Defaults vs Judgments: Which Causes More Damage to your Credit File?
Are you wondering why you may have a bad credit rating even after keeping your credit card balances low or staying below your credit cards spending limits?
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Laura had a payment debt default to a debt collection company that was listed on her credit file in 2016. This default was making things very hard for Laura as the listing had lowered her credit score to 547. This meant she was unable to secure a line of credit to help her during quiet times in her business.
Clean Credit was able to remove this debt default from Laura’s credit file, which increased her credit score to 692. This meant she was able to secure a line of credit for her business.
This scenario is an example based upon previous customer journeys, but not any specific customer. Image is a model for illustrative purposes.
Are you wondering why you may have a bad credit rating even after keeping your credit card balances low or staying below your credit cards spending limits?
One of the most common questions we are asked is “Can Clean Credit remove my court judgement from my credit file?” The answer to this question can undoubtedly make all the difference to your business
Judgments can stay on your file for a minimum of seven years if you don’t clear credit history. But, it doesn’t mean you cannot re-establish your credit right now to access more low-interest credits.