Will "Account Closed by Creditor" Hurt Your Credit Score?
Due to some old debts on the credit report, I closed the account and this is hurting the credit score. Any tips and suggestions are welcome!
Gill Garcia
Credit Repair Consultant @ 007CreditAgent
007 Credit Agent has offered credit repair and restoration services since 1989. Find out more about our credit repair programs and how we can help remove negative information - https://007creditagent.com/
Yup....it will drop your score a few points.
http://www.debtconsolidationcare.com/paydayloan/dealingwith-illegallenders.html
PDL's are ILLEGAL in the following states...
AR, AZ, CT, GA, ME, MD, MA, NJ, NY, NC, PA, VT AND DC
OH AND NH have very restrictive low cost interest rate laws.
SOL for all states
http://www.debtconsolidationcare.com/statute-of-limitation.html
SOAPLADY
Hello Friend!
There is no way to fix your credit score quickly. But certainly, you can adopt some strategies.
One is, you can repay your credit card bill and other utility bills paid on time.
Second is, apply for a new credit card account when there is actually any need from your side.
For now, apply these 2 strategies.
And the third option is to repay whatever is due on your old debt.
You can remain purely tension-free.
Ryan Miller
As you have closed the account, so you have lost the payment history. This is probably why your credit score dropped. Try to add positive payment history on your credit report. It will help to boost your score.
David Martin
It usually doesn't hurt your credit score. This is not considered while calcuting your credit score. However, it can affect your credit utilization ratio as your credit limit gets reduced. Thus, it can reduce your credit score a bit.
Mabelle Page
Write Your Answer