What is Factoring? Also commonly referred to as accounts receivable financing, in factoring a business sells its receivables to a 3rd party (factoring) company at a discount. The factoring company pays the business immediately and is paid by your customers later. Factoring is becoming more prevalent as business owners realize it is a debt-free way to get paid sooner so
While you can apply for a debt consolidation loan to combine virtually any types of debts there are a few that are best suited for this particular debt solution. The most prevalent is debt is credit cards. Because credit cards are infamous for having high interest rates it often makes sense to consolidate balances from multiple credit card into one
Before getting into how a debt consolidation loan can help your credit you have to understand a credit rating and a credit score are two entirely different things. A credit score is derived from items reported in your credit file by complex algorithms and is used to determine whether you are more or less likely to default on your next