Total credit restoration is possible and can be achieved. In order to have a total credit restoration it will take you seven years (10 years for bankruptcies, 15 years for
unpaid tax liens) from your last reported late payment on your credit report. However, don't get discourage because you can still obtain a good to excellent credit score with some negative items
lingering around.
The steps involved for total credit restoration are basic and simple. First, make sure all the information on your credit report is accurate. 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. 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 credit card.
A credit bureau will not remove accurate negative information from your credit report before the legal time period has expired. Therefore, do not believe anyone who claims they can get negative
information removed from your credit report faster than is legally required.
Remember, total credit restoration is not necessary to obtain the best interest rates on loans and credit cards.