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THElast week i helped a family member get a copy of their credit report and credit score. One thing they found confusing was the difference between the two. Contrary to what many believe, a credit report and a credit score are not the same thing. While these are variations on your overall financial health, they …

Collection accounts Typically stick to your credit reports for seven years from when the account first became overdue. But you might want to remove them sooner than that; unpaid collections can make you look bad in the eyes of potential creditors. And while the new versions of the FICO and VantageScore credit scores ignore paid …

While it’s commonly accepted that your credit report lists the various accounts you have, their balances, and the status of their payments, you may be surprised to find that closed accounts can linger on your report for a while. years. Interestingly, closed accounts in good standing can stay on your credit reports for 10 years, …