How Long Do Collections Stay On Your Credit Report

Credit Cards
Credit Scores and Collections

We are in the middle of a financial crisis, when the employers have problems paying the salaries and there is no perspective of getting better. In this complicated scenario, the Credit Bureau is considered the bad wolf from the fairytales. However, this time it is real and it can affect your life significantly.

The Credit Bureau is an entity founded that the initiative of the banks that offers a consultative database where the banks and other financial institutions can find information about the credit history of different clients. As we are talking about a database, the government regulates its functioning process. Nobody is allowed to obtain information from here without your expressed approval. On the other hand, you can’t apply for a credit if you don’t allow the bank to make this interrogation in your name. Let’s see how your credit history affects you.

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