Negative information will stay on your credit report for
several years usually up to seven. However, for some information
there may be something you can do. If a past creditor reported
that you had late payments, and your account has since been
brought current and paid off, they may be willing to remove
their negative information from your report. Contact the creditor
to find out if they would be willing to do so. It certainly
cannot hurt to ask.
If you find that you are late on any of your bills, get current
right away. Late payments will adversely affect your credit.
Once you bring all your accounts current, work hard to make
sure it stays that way. Sometimes things happen in life and
it is unavoidable to have problems paying your debts. If this
ever occurs get in touch with your creditor immediately. They
may be able to work out a payment plan for your while you
are having a rough patch. This may be a way that they will
work with you so that they do not report your account as being
Do not over extend yourself when it comes to credit. If you
have a high debt to income ratio, this will lower your credit
score. Keep a low balance on your credit cards. Try to only
utilize credit for things that are most important to you.
Avoid taking any of your credit cards up to their credit limit.
This can also lower your score if you have high balances on
just a few accounts.
Time itself will also help your credit score. Make a commitment
to better managing your finances staring now. Do not open
credit account you dot need. In addition, do not apply for
too much credit it a short amount of time, this can actually
result in a lower credit score. Keep current with all of your
credit and loan payments. In time, you will see an improvement
in your credit score.
Working to Rebuild Credit
No Credit and Poor