Lender Personal loans Trade 
Credit Corp
AUGUST 23, 2021
It’s a common scenario: You apply for a personal loan or credit card and get denied. The reason seems shrouded in mystery, and you receive a letter with language such as “lack of recent installment loan information” or “proportion of balances to credit limits.”
Credit Corp
MARCH 23, 2021
Depending on the specific credit bureau or bureaus that your vehicle loan lender reports to, it will only show up on those credit reports. There are three different credit bureaus that are mainly used by all lenders: Experian, Equifax, and Transunion. What Is an Installment Loan? What Contributes to Your Credit Score?
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Credit Corp
SEPTEMBER 13, 2023
One reason that lenders look at credit mix is to make sure that you can be responsible with multiple types of credit. Showing that you can handle different types of credit—and multiple credit accounts at once—indicates financial reliability to potential lenders. You are not required to pay the loan in full each month.
Credit Corp
JUNE 1, 2023
If you’ve gotten behind on payments to a creditor or lender, your debt could be sent to collections after around 120 days of missed payments. Paying off collections can help your credit score if the lender reports to new credit scoring models, including FICO 9®, FICO 10®, VantageScore 3.0® ® and VantageScore 4.0®.
Better Credit Blog
APRIL 11, 2022
Debt is the amount of money you owe to a lender or creditor. Some examples of debt are mortgages, credit card dues, and personal loans. Although accruing lots of debt isn’t ideal, it may sometimes be unavoidable, such as mortgage payments or student loans. They may still be responsible for paying a portion of the loan.
Collection Industry News
FEBRUARY 21, 2022
You can find a certified credit counselor through trade groups like the National Foundation for Credit Counseling (NFCC) or the Financial Counseling Association of America (FCAA). Debt consolidation loans are another popular way to pay off credit card balances. In comparison, the average credit card interest rate is 16.44%.
Better Credit Blog
APRIL 1, 2022
When you stop making payments on an auto loan, the lender will take the vehicle back. Your first option is to start negotiating with your original auto lender. This could be a bank, an online lender like Capital One, or the in-house finance company at the dealership. It means your lender has lost money on your loan.
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