When a lender agrees to temporarily postpone a consumer’s regular payments, whether due to hardship, disaster, or a payment assistance program, the account…
Prepaid credit cards and gift cards are not considered traditional lines of credit and, in most cases, should not be reported to consumer…
Paid accounts are closed trade lines that have been fully settled and no longer carry an outstanding balance. While the financial obligation has…
An account that is closed but still carries a balance is considered an active financial obligation, even though no further transactions (like new…
When an account is reported as “Closed by Credit Grantor,” it means that the lender, not the consumer, initiated the closure of the…
Late payments are one of the most common negative items on credit reports, and they can significantly impact a consumer’s credit score and…
