Nerd Wallet
OCTOBER 13, 2021
Personal loans accounted for $148 billion in consumer debt in the fourth quarter of 2020, a decline from the same period in 2019, according to credit bureau TransUnion. Personal loans are usually unsecured, meaning they don’t require collateral like a house or a car, and you can use them for almost anything.
Credit Corp
JULY 29, 2024
When a lender doesn’t receive payments for a line of credit, they may choose to eventually sell that credit to a debt collection agency to get some of their money back. That line of credit will then be reported to the credit reporting bureaus as a collection account—a collections account for a credit card, personal loan, etc.—and
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.
Credit Corp
SEPTEMBER 12, 2023
FAQ Consider Hiring a Credit Repair Company How Collection Accounts Impact Your Credit Collection accounts have a significantly damaging impact on your credit score because they’re negative marks that indicate to lenders you may not pay your bills on time—or ever.
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.
Fico Collections
DECEMBER 4, 2020
To further enhance flexibility and predictive power, the addition of FICO® Score 10 T incorporates trended credit bureau data. These in-depth insights can help lenders expertly manage credit risk in these uncertain times, while continuing to make competitive credit offers to consumers. .
Fico Collections
AUGUST 29, 2022
and globally -- making access to credit more efficient and objective, which has continued into the present day. FICO® Scores are dynamic and evolve as changes in consumer behavior are reflected in the underlying credit bureau data housed and managed by the three primary U.S. consumer reporting agencies (CRAs). in April 2022.
Credit Corp
MAY 23, 2021
Promotional inquiries and account review inquiries are nothing to worry about, because they’re preapproved credit offer inquiries or inquiries by companies you already do business with. Tip: Sometimes, the name of a financial institution doesn’t precisely match the name of the company checking your credit. Learn More about ExtraCredit.
Expert insights. Personalized for you.
87 
Let's personalize your content