Credit Score

The Impact of Bankruptcy on Your Credit Score

Bankruptcy is a legal process that provides individuals or businesses overwhelmed by debt with a fresh start by eliminating or restructuring their debts. While bankruptcy can provide much-needed relief and a chance to rebuild one’s financial life, it also has a significant impact on credit scores. Your credit score, a three-digit number that reflects your creditworthiness, is influenced by several factors, including your payment history, amounts owed, length of credit history, types of credit, and new credit. This article will ...

H. Jasmine

The Pros and Cons of Credit Score Monitoring Services

With the growing significance of credit scores in today’s financial landscape, it’s becoming increasingly important to keep a close eye on your credit health. Credit score monitoring services can play a vital role in this by providing regular updates on your credit score, alerting you to any changes, and helping you understand the factors influencing your score. But like any service, they come with their own set of pros and cons. This article will explore these advantages and disadvantages to ...

H. Jasmine

What Does Your Credit Score Consist Of

Credit scores can be confusing to dissect. For years it was always a mystery how the credit reporting agencies came up with your score. This number is so important that it dictates how much you’ll pay for a car loan or a home loan. Well there is no mystery anymore. We now know what elements comprise a credit score. Here are the factors that determine your credit score. Payment History [35%] Your payment history is the most important factor in ...

H. Jasmine