2007-10-30 04:47:05 · 5 answers · asked by sajid s 1 in Business & Finance ➔ Credit
You don't get rid of it, you make it history. You start by making every payment on time. This is the largest portion of your credit score. By the time you've made 12 months of payments on time you should see an increase in your credit score. 24 & 36 months are big milestones too.
You can't have outstanding collections or judgements. Clear them up. You can't have active bankruptcies, they must be discharged and in the past.
Finally keep outstanding credit to less than 25% of available credit on all credit cards. Successfully pay off loans.
It's hard, but you can do it!!
good luck!
2007-10-30 08:41:00 · answer #1 · answered by Rush is a band 7 · 0⤊ 0⤋
Unfortunately there is no way to "get rid of it." I know that is not what you want to hear, but it won't go away. After 7 years, negative information will be removed from your credit report, but until then it stays. You could dispute it and hope the creditor doesn't respond, but most likely they will, and even if they don't, they will probably re-report it next month.
Until then, do things to build your credit back up. Pay bills on time, prove that you can handle credit wisely, and your credit score will improve, although not be perfect. Then, in 7 years, when all the negative stuff falls off, you would have nearly perfect credit.
Just make sure that you do not make the same mistakes you made in the past that caused the bad credit in the first place. Or, if it was an unavoidable event that caused it (illness, layoff, natural disaster, etc.), then work to get yourself in a position where you are protected in case it happens again (e.g. have enough savings to live on for 6 months, have insurance, etc.).
Good luck. :)
2007-10-30 12:15:30 · answer #2 · answered by WisTex 2 · 1⤊ 0⤋
This is a really long ivolved process and I can't really respond to all of this here. Let me just tell you I had really bad credit and I used this site to help me clean up my credit and now my score is 720 up from 485 in a little over a year!
I challenged the negative items in my report and got a credit report monitoring service so I could keep checking my credit as often as I wanted to and this will not makle your score go down.
You can see what your doing to your credit directly and watch your score go up! I found this site really useful and it got me motivated to make a change and my life has improved in so many ways now!
2007-10-30 13:02:13 · answer #3 · answered by Anonymous · 0⤊ 0⤋
Pay your bills on time - even if it's the minimun payment. If your credit is shot it will take years to fix, but just keep paying your bills, or if you have too many bills, go to a credit counseling union and consolidate them into one bill.
2007-10-30 11:51:06 · answer #4 · answered by ♥Marisa's Mommy♥ 7 · 1⤊ 0⤋
Pay your past bills, pay you bills on time.
2007-10-30 11:54:11 · answer #5 · answered by L H 4 · 0⤊ 0⤋