How do collection accounts affect the debtors credit rating if she/he is a consumer?
The answer is complex. Each of the 3 national credit bureaus have their own credit scoring formulas. Different creditors may utilize different bureaus or more than 1 bureau in evaluating credit. In general, any listed account will lower a debtor’s credit score but whether 1 or more listings will “hurt” their credit is affected my many variables, including the reason for which credit is being sought. Back to top 14.
