Will my credit score change automatically?

Question

I have 2 bad marks on my credit history. Next year, they should be gone; it'll be 7 years. Will my score get better after they're gone, or will it stay the same until I make improvements?

Answer 1

After these bad records are gone from your credit your score will go up automatically (because they won't be there to bring it down). There are some websites that have credit score tools that you can select actions and it will tell you what will happen to your credit score. For instance sometimes opening a credit card with a $10,000 will raise your score and opening one with a $1000 limit will lower it. I think the one I used was ScorePower, unfortunatly I don't know of any free ones.

Answer 2

Ok there is no such thing as statue of limitations when it comes to credit score what there is though is the reality that it can take up to 60 days for your credit score to change. I use Equifax.com and pay 19.95 monthly for all three credit agencies. They keep you informed of any changes and provides the same thing nearly any other credit score places do I figure why pay a dollar a day to see a most likely frozen score when you can see all three daily with updates. I started in July with lexington Law firm to repair my credit and they in a month cleaned my whole negatives which made my score go from 0 to 500's then I had a million offers from credit cards I got 4 300 credit limit cards and borrow and pay early every two weeks which also increased my score enormously. Credit scores are tricky and there are always going to be a million recommendations to help your credit and how it works but plain and simple each person has their own file and receives there own points by decision of the credit agencies, I have read and studied how credit works and where it hits you hard at, what you see the most causes from that effects your points anyone has any questions fell free for free to contact me at [e-mail] thank you.

Answer 3

It would take time. If your boyfriend contact the lenders and worked out an agreement to pay off the balances in full over 12 to 36 months; his credit score would go up within 90 days. The Credit history would record a constant payment. Although the balance may still be high (90 - 90%) of what is owed the score will raise. The funds you have on hand can be used to make all the bills paid. Credit points to consider: 1. Amount of bills owed (as percent of income) Your are better off having 1 or 2 high bills than 6 or 7 medium bills. 2. Payment vs. non Payment

Answer 4

I am in a similar situation. Not everything drops off after seven years. There are specific guidelines: what negative items remain and for how long. For example, general credit inquiries last for 2 years and "fall off" the next month after a full 2 years. Closed accounts without negative history remain for 10 years. And there are a lot more. I have gotten my credit score up 120 points in six months because I dug into the issue using all three credit reporting agencies, filing disputes and talking to creditors. The government allows you one free credit report from the 3 reporting agencies a year: Experian, Equifax, and TransUnion.

Answer 5

In the world of credit scores the answer is yes. Time is a huge factor in the world of credit. The further away from negatives is best and by law those blemishes will disappear.

Answer 6

It first thing you need to know is, the older the item is, the less impact it is currently having on your score. By the time negative information 'drops off' your report, it probably isn't having a noticeable effect on your score. Once the information is removed, the next time someone views your score, it will be calculated without that account.

Answer 7

Sometimes you have to work with the credit reporting agencies to remove bad credit history. Sometimes they come off automatically, but others stay until you contest them.

Answer 8

It may increase, however, not significantly. If they have been on for over 6 years, the impact they have on your account is very little. The longer an account is on your credit history, the less of an impact it makes.

Answer 9

First of all, I think the statue of limitations is now 10 years.

Answer 10

no!