Information that is timely and precise cannot be taken off your credit file, even if you have paid a once delinquent debt off. The fact
that it is paid off is to your credit; nonetheless, the fact that the report was once delinquent is also true and may stay in your credit files from up to seven years.
Bankruptcy information could be reported for up to ten years. Information reported because of an application for a job using a salary of more the $20,000 has not time limit. Information reported because of an application for more than $50,000 worth of credit line has no insurance or life time limit. Default advice concerning a US Government insured or guaranteed loan may be reported for seven years after certain grantor activities. Continue reading →
It is no secret that having bad credit can be a real obstacle for any small company. But bad credit does not have to mean no credit. There are a few solutions to overcome that bad credit and get a credit card (cc) for your business. Two of these options are bad credit card debt is unsecured and secured credit card.
With a secured credit card, and you will have money in the bank in the form of a security deposit to back up your purchases. The amount varies but it gives the lender less risk for the loan, and that means the possibility of a higher credit limits for you. Usually, based on the spending limit you have available on a percentage of the amount of your insurance. Continue reading →