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If you have an entry in your credit rating, we recommend that you wait with the loan application until the deletion deadline for the entry has expired. If the entry on your credit rating has disappeared, your credit rating may improve. This in turn increases your chances of concluding a contract and favorable conditions.

You should also note that the deadlines usually only occur when you have paid the appropriate amount. Open procedures can last longer in your credit rating.

Our tip: Always pay your bills on time and avoid negative entries in principle. If you forgot to settle a bill, you will learn how to respond correctly to reminders. If you still find the negative entry after expiry of the deletion period in your credit data, you should contact the responsible credit agency, and report the error. Incorrect or obsolete entries are deleted immediately.

Multiple accounts and credit cards are considered by credit bureaus to be unreliable. That’s why we recommend that you cancel the unnecessary accounts so they do not lower your credit rating.

If you pay your bills on time, you will not only save expensive dunning fees. In the worst case, unpaid bills land after two reminders at the collection agency, which in turn can end in a negative entry. However, a delay may only be mediated to the credit agency if the consumer has been reminded twice and four weeks have passed after the first reminder.

There is such a direct correlation between factoring and credit rating that it is usually not even mentioned in most considerations. That’s understandable – you do not just want to repeat everything too obvious. But it is also regrettable. For anyone who does not yet know about this connection will be given an excellent opportunity to improve their own company.

In fact, factoring can noticeably improve your credit rating in the short term, at a surprisingly low price. How this works, we show you below.