There is no way to erase bad credit from your credit report, but you can improve it. You can start by pulling your credit report from all three credit agencies which are
Experian, Equifax, and TransUnion. You can find out how to obtain these for free annually at the U.S. Government website at Federal Trade Commission. Then, follow these simple guidelines to help
restore and improve your credit score.
First, make sure all the information on your credit report is accurate. If you find an inaccuracies any of your three credit files, you will want to file a dispute either On-line or in writing to the appropriate credit reporting agency.
Second, try to pay off all or any accounts that are currently in collections or make payment arrangements with the creditor to pay off the balance monthly. Also, you will want to pay off any judgments that you may have against you.
Third, any credit card that is over 50% of the available credit line should be paid down to under half of your total credit line. Your credit score is lowered when your available balance is over 50% of your total credit line.
Finally, if you have bad or no credit and have no credit cards try to obtain two credit cards and make sure all of your monthly payments are made on time. This will help increase your credit score. If you cannot be approved for a unsecured credit card, obtain a secured card.
If you want to keep track of the progress you are making with your score on a monthly basis, you may want to sign up for credit monitoring. This service that charges a small monthly fee lets you analyze your credit score and report without adding any inquiries that will harm your credit profile.
Repairing your credit and improving your credit score is a slow process that takes time. Just be patient and follow the above steps and you should be on the road to better credit!
You may want to also read Statute Of Limitations Law on old past due debt.
If you are a woman and you are currently married, divorced or widowed, read the following article on Credit Histories For Women.
A article on Do It Yourself Credit Repair
You may also be interested in Debt Consolidation Loans With Bad Credit
Learn how to achieve a Total Credit Restoration
Information on Credit For People Over The Age Of 62
or learn about Credit If Your Spouse Dies
Find out how to Rebuild Credit After Bankruptcy
Raed about How To Build Credit
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