This is the process of changing a delinquency staus on a credit report. This can occur when a borrower and lender work out a new plan or repayment and the lender stops reporting the account as delinquent. They then re-age the account and have it show the account as current. This can help improve a person’s credit score. Re-aging can also be done illegally from collection agencies to try and get consumers to pay their debt.
What’s Better Installment vs Revolving Credit?
Many people need help to optimize their credit usage. They need to understand the differences between installment and revolving credit.