A bankruptcy can have a devastating effect on your credit score.
When an account is unpaid for more than 180 days, it is than charged off.
Collections are accounts you have defaulted on, or stopped making payments.
Repossession occurs when you become delinquent in your payments on your car loan.
Regain your financial credibility and take steps to become a home owner once more.
A late payment can lower a credit score by 15 to 50 points.