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Q&A

Q&A: What’s the Difference Between a Business Line of Credit versus a Business Loan?

Business line of credit versus a business loan — The business line of credit is in fact a business loan, but the difference is that the business loan is made at a fixed rate and the business line of credit is made at a certain percentage over prime rate. Typically, the business line of credit interest rate is usually lower[Read More…]

by September 10, 2016 0 comments Q&A

Q&A: Does Checking Your Credit Score Lower It?

Q: Does checking your credit score lower it? A: Checking your own credit score does not lower it. In fact, you are encouraged by law to check your credit report once a year. Checking your credit score may cost you extra. In you apply for a mortgage or a car loan (or any other loan for that matter), the companies[Read More…]

by September 10, 2016 0 comments Q&A

Q: How long bankruptcy?

Q: How long bankruptcy? A: How long bankruptcy? It’s really a two-part question, requiring a two-part answer. The bankruptcy proceeding itself, according to the Bankruptcy Court website can take a few months to a few years. The U.S. Department of Justice says on its bankruptcy information pages that the two Chapters of the Bankruptcy Code most often used by consumers[Read More…]

by September 8, 2016 4 comments Q&A

Q&A: How Long Does Negative Information Stay on Credit Report?

Q: How long does negative information stay on your credit report? A: How long does negative information stay on your credit report? The news is not good! A credit reporting company can keep accurate negative information on your report for up to seven years. Information about a lawsuit or an unpaid judgement against you can be reported for seven years[Read More…]

by September 8, 2016 0 comments Q&A