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How does one go about the process to clean credit up after a history of debt?
Wiki User
∙ 10y ago
There are several steps one may take to clean up ones credit after acquiring a history of debt. The most important thing is to request your credit history from at least one of the three main credit reporting companies and see what is on it.
Wiki User
∙ 10y ago
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How long will a bad account stay on credit history?
Until you clear your debt and your good with the company. After that it will stay on there for about a year but will also have that you paid your money. If you havent paid your debt, then it will remain on your credit history.
If a debt is reflected on your credit report by a collection agency can the original creditor recall their collection allowing you to dispute the debt with the credit bureaus and have it removed?
YES, THIS COLLECTION ACCOUNT CAN BE DISPUTED; WHICH MEANS THAT AFTER THIS IS DISPUTED YOU CAN ALSO REQUEST FOR THIS ACCOUNT TO BE REMOVED FOR GOOD WITHOUT HAVING TO WAIT FOR THE SEVEN YEAR PERIOD. THIS WILL ALLOW YOU TO HAVE A CLEAN CREDIT HISTORY WHICH IN TURN INCREASE YOUR CREDIT RATING.
What are some ways to clean up a credit score?
Some ways to clean up a credit score is to start paying bills on time, reduce credit card debt, and open a bank account. Those are the best ways to clean up a credit card score.
What are some steps to clean up your credit?
There are different ways to clean up one's credit. You can contact your creditors to see if they will work with you to lower your payments. You can also sign up with any of the debt consolitations you see on TV or in the paper.
How do I get a disputed debt off of my credit report?
The legal answer is that the process of disputing a debt is simple that for disputes. If your only dispute is that you do not want a litigate debt reported on your credit then you would not legally have the grounds for filing any disputes. If however, the debt is genuinely incorrect or not yours; then you should be able to google "credit dispute" and find sample letters and instructions on the process of assuring that your credit report contains accurate information. I would avoid any company or service that claims to "fix" your credit, as most of the time its just a scam, and they just send the same letters you can download off the internet for free.
When a negative remark falls off the credit report after 7 years does it lower the credit score or swing it higher if the debt was never paid?
When the negative debt is completely erased from your credit history, your credit score will experience an upward swing. Also, the longer time goes by and you have clean clear credit (and the debt is still on your report), your credit score will improve.
Why a creditor will be reviewing your credit history?
amount of debt
How long before a debt gets wiped clean?
It is common belief that after seven years your debt gets wiped clean from your consumer credit report that is reported to all major credit agencies.
Where can I get debt consolidation?
You can get credit score advice and debt consolidation information from your banker. They can order a credit bureau score for you and tell you what your score is, how to clean up your credit and perhaps lend you funds to consolidate and pay down the debt faster.
10k credit cards debtand fill out for bankruptcy you will be clean again or not?
Possibly ... but it's going to take many years ... possibly between 7 and 15 years to clear all the debt from your credit history.
How long will a bad account stay on credit history?
Until you clear your debt and your good with the company. After that it will stay on there for about a year but will also have that you paid your money. If you havent paid your debt, then it will remain on your credit history.
If a debt is reflected on your credit report by a collection agency can the original creditor recall their collection allowing you to dispute the debt with the credit bureaus and have it removed?
YES, THIS COLLECTION ACCOUNT CAN BE DISPUTED; WHICH MEANS THAT AFTER THIS IS DISPUTED YOU CAN ALSO REQUEST FOR THIS ACCOUNT TO BE REMOVED FOR GOOD WITHOUT HAVING TO WAIT FOR THE SEVEN YEAR PERIOD. THIS WILL ALLOW YOU TO HAVE A CLEAN CREDIT HISTORY WHICH IN TURN INCREASE YOUR CREDIT RATING.
What does credit debt reduction mean?
Credit debt reduction refers to the process of trying to reduce someone's debt through various means, such as renegotiating debt repayments, debt forgiveness, reduced interest rates, or eliminating late fees.
How do you reverse a bad credit history after you paid a debt?
You can write the three credit reporting agencies and report the debt as paid. Usually, the debt holder will write them for you, but you should check that this has been done.
Does high credit means you owe money?
I'm assuming you mean a high credit score, which is determined by 35% debt payment history, 30% debt levels, 15% length of debt, 10% new debt, and 10% type of debt. So, a high credit score can mean that you do owe money and have a good history of paying it on time, but it can still be high even if you recently eliminated all your debt.
What are the two biggest influences on your credit score?
your payment history and your debt load
How long after paying off debt does it take change the credit history as showing good and will creditors be able to continue to see on the history the debt problems in the past?
As soon as the company reports to the credit bureaus, it will reflect the changes in the status of the amount paid and status of the balance of the debt. Unfortunately, once the debt (account) was created it will remain on your credit report for seven years from the last time it was active. Unless you dispute the debt and get it deleted from your credit profile.
