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Hello Community!
I've pulled all three reports using Equifax. What is the difference between Collections, Closed Accounts, and Negative Accounts.
I am new to this forum. I want to raise my credit score to 720.
From what i have read, credit utilization is huge and impacts my score. As a result, i am in the process of paying down all credit cards. I have some collections, closed accounts, and negative accounts. I am not sure how to handle these.
I would really appreciate some help and guidance.....
My current scores are:
566 Equifax; 548 Transunion; 531 Experian
@Anonymous wrote:Hello Community!
I've pulled all three reports using Equifax. What is the difference between Collections, Closed Accounts, and Negative Accounts.
I am new to this forum. I want to raise my credit score to 720.
From what i have read, credit utilization is huge and impacts my score. As a result, i am in the process of paying down all credit cards. I have some collections, closed accounts, and negative accounts. I am not sure how to handle these.
I would really appreciate some help and guidance.....
My current scores are:
566 Equifax; 548 Transunion; 531 Experian
A collection is when a creditor sends an overdue bill outside their institution to a business that specializes in collecting debt.
A closed account is just that closed it can be a COed account or a paid as agreed account.
A negative account is a COed account, a collection agency entry or a public record entry. A negative also applies to a late payment.
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