How long will it take to repair my credit history?

+1 vote
asked Jun 4 in Credit by Shanaria (370 points)
How long will it take to repair my credit history?

1 Answer

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answered Jun 4 by Larry S (17,290 points)
Repairing your credit history will take some time as in months to years and your credit history and credit score certainly won't be improved or repaired overnight.

When you have negative reports and accounts on your credit rating it can take from 7 to 10 years for those negative reports and collections accounts to be removed from your credit rating unless you go through a credit repair agency to help get those negative remarks removed sooner but it won't be cheap.

During those 7 to 10 years you can help improve your credit rating by making sure any loans you take out have payments made on time and if you have any bills make sure those get paid on time and don't default on anything even your electric bill or other utility bills can cause a drop in your credit score if they're sent to collections for non payment so always make payment arrangements with the Utility companies if you're having trouble paying the bill.

You can use a secured credit card through Capital One or any other credit card company and put up a deposit which secures the credit card and then make on time payments and in time as long as you continue to make on time payments the security deposit for the secured credit card will be returned to you and your credit rating will improve.

Remember it takes months to even years to see your credit rating improve and it won't happen overnight.

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