Seize Command of Your Credit - Embark on Your Path to Financial Prosperity
Late Payments
Late payments are fees imposed by lenders or companies when consumers fail to make timely payments on debts, such as loans, credit cards, insurance premiums, or rental agreements.
Collections
If you neglect to settle a debt that has entered collections, debt collectors may take legal action, filing lawsuits that could lead to wage garnishment or direct withdrawals from your bank account to repay the outstanding debts.
Repossessions
If a debtor defaults on a loan or line of credit, any item used as collateral, such as a home (resulting in foreclosure), car, or other purchased item, may be subject to repossession.
Inquiries
A credit inquiry occurs when an institution requests your credit report and scores from one or more of the major credit bureaus (Equifax, Experian, or TransUnion).
Evictions
Having an eviction on your record can hinder your ability to secure a new rental. However, with assistance and effort, it may be possible to remove this record, alleviating challenges in finding a new place to live.
Charge Offs
A charge-off is a creditor's declaration that a consumer's debt is unlikely to be collected, typically due to severe delinquency on the debt.
Bankruptcies
Declaring bankruptcy can have significant consequences on your financial history, limiting your ability to obtain new credit or renegotiate terms for debts not discharged through bankruptcy proceedings.
Judgments
Judgments occur when a court issues a decision in favor of a creditor, allowing them to pursue various legal avenues to collect the owed debt.
Child Support
Falling behind on child support payments can have legal ramifications and impact your financial standing.
Student Loans
Missing a scheduled monthly payment for a student loan results in immediate delinquency, which persists until the missed payment is rectified.
