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When bad credit expires does the credit rating go up?


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2009-05-06 07:14:58
2009-05-06 07:14:58

No. Your credit rating will remain the same long after the bad credit has expired. In order to get a better credit rating, you'll have to obtain a credit card or loan of some sort. Making monthly payments and staying within the credit limit will gradually improve your credit rating over time.


Related Questions

It depends on who you are dealing with. Visa for instance has your number no matter where you go.

It is possible to buy a cellular phone if you have a bad credit rating. If you purchase a pay as you go phone, there will be no checks on you what soever.

Yes it will most definatly go against your credit report. A credit check is only to provide a lender with a picture of your credit history. it has nothing to do with wether or not you have good credit or bad credit in its self. wether or not you pay your bills on time and how much you owe is what determines your credit rating. if you do not pay your bills your credit rating will suffer and fewer institutions will lend to you. when they view your credit report they will see you as a bad risk.

If you have a bad credit score, you can get credit score advice. You should go to credit counseling. Bad Credit Genie,, is one company that can help you.

No, you should always cancel them out if you have plans for them. It is viewed as a bad thing when there are more cards available to you. The more cards you have the more can can go into debt. There fore the less is better from a credit rating standpoint.

How long does it take for credit score to go up in rating after paying off debt?

There are a few websites where one can go to get information on mortgage lenders for bad credit. Realtor have an article on how to get a mortgage with bad credit. The Bad Credit Whiz website has a list of the top 10 bad credit mortgage companies.

There are various websites where one can get a free credit rating score. Some such websites are Equifax, AnnualCreditReport, Credit Karma, and myFICO.

As with all financial endeavors, a good credit rating is critical. However, that is not to say that it is impossible to obtain a proprietary reverse mortgage with bad credit. You should first check your credit score to see where you are exactly and go from there. You may be able to find lenders that specifically tailor to those with poor credit.

if the principal loanholder defaults you will be stuck with the payments.Miss them and your credit can go VERY BAD!

There are services online to help you find your current credit score rating. You can go to or

For someone with bad credit rating, he/she can expect to get interest rates anywhere between 7 to 18% on their car loan. In some instances, the rates can go as high as 24%.

It depends more on your overall credit rating and how much time has passed since you defaulted on your loan. In general the default will be removed from your record after approximately 7 years. After that, it will not have an effect. However, if you you have a bad credit rating due to other defaults, late payments, etc they will continue to negatively affect your credit rating making it difficult to get a loan.

yes they can.just have to go to courthouse and pay 10.00 filing fee

Credit Unions are usually the more favorable in regards to loan repayment terms and interest charges. However, the loan amount is likely to be small, if you need bigger loans you will need to go to a bank or bad credit lenders if you have a bad credit rating. One thing to remember here is to ask if the institution reports to the credit bureau. Some smaller credit unions will not report and will not help someone establish credit.

Bad credit can be fixed by paying off everything. Using a credit fix isn't a solution and may actually harm your credit if the company isn't reputable.

Maybe. It all depends on the bank that you go to, usually with bad credit it‰Ûªs tricky to do, but some banks will do it. It also depends on how bad your credit is. If your credit score is bad enough, nobody will give you a settlement loan.

You can get a free annual credit report online once a year (from three credit providers) at the website This does not provide your credit score, however.

It is possible to get a mortgage loan with bad credit but you will have to pay a lot higher interest rate and the loan amount will be lower. You can go to HUD and talk to a counselor about securing a mortgage loan with bad credit. There are a few different options for people with bad credit.

Credit rating plummets when filing for bankruptcy. Bankruptcy should be the last resort and one should try everything to not go bankrupt - keep saving as much as possible.

To get "clean" you must always, without fail, make every payment on time, every time. One late payment after 20 years of paying on time will mess up your credit history for the next 7 to 10 years, and it takes at least 7 years to get that bad mark off of your credit rating. This is why it is so very important to do whatever it takes to make your credit payments on time, every time ... if you have to go out and get a 2nd or 3rd job to help with expenses,then so be it. Your credit rating follows you throughout your entire life ... protect it like gold.

It would not have any immediate impact on your credit rating, a settlement figure is just a statement provided by your lender on the amount outstanding to clear the loan in full "To settle".

A repossession on your credit is NOT GOOD. Avoid it if there's anyway possible. You say the car is SOLELY in your name?? GO GET IT and sell it.

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