How Do I Repair Credit After 7 Years of Delinquency? How Long Does It Take?
I asked the question as part of my previous one, but I’m hoping ot get more responses please.
Check your previous question for the correct answer.
I’ve bookmarked this site…
http://www.safelinked.info/jump.php?link=debt
Take care.
March, 19th 2010 at 1:35 am
Negative items fall off your credit report 7-1/2 years from date of first delinquency. If most of your debt is 7 years old, it should be aging off shortly.
Get a copy of your credit report (AnnualCreditReport.com) and see what is on it. If there are any errors, dispute them with the credit bureaus.
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March, 19th 2010 at 2:18 am
To rebuild credit is extremely difficult once you loose it. You may want to take out some type of loan with a worthy cosigner and begin to build your credit again. This is the only way I can think of rebuilding your credit. I do not recomend credit cards for rebuilding credit, use a personal loan of some sort and make sure you are ontime with payments. It will take about another 3-5 years to build up a decent credit level, but goodluck
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March, 19th 2010 at 3:04 am
1. Get and keep copies of your credit reports. Creditors update (CHANGE) charge off dates and if you don’t have copies of previous credit reports you can’t prove it.
2. Dispute. . . Dispute. . . Dispute. If it does work, keep trying.
3. Don’t let businesses keep running your credit report —each time they do your credit score drops.
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March, 19th 2010 at 3:15 am
even if you have 7 years of deliquency dont think they still cant come after you for payment. the 7 years is for the original debtor, if they sold youre account to a collection agency they also have 7 years to go after you. best thing you can do is not apply anywhere for credit and dont accept any offers you recieve, it could just be a collection agency trying to track you down.
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personal experience.
March, 19th 2010 at 3:27 am
From my experience of being delinquent in paying off my debitors. First you have to start by saving money every how often you get paid, bi-weekly, weekly, monthly, start by saving small as not to overwhelm yourself, then gradually grow, but you cannot touch your savings. Then you can either take a secured loan on your money you saved. That locks in your money saved in case you become delinquent on your part of the deal. Or you can just not take out any credit and just pay bills ontime every month for minimum a year, that will raise your score up a great deal. Most importantly, don’t open up no new lines of credit, don’t apply for any new lines of credit, no matter how much your pre-approved.(that’s a ploy to get you in) Every time you apply for new credit it drops your credit score atleast 50 points.
Anymore questions, please write. Good Luck!
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March, 19th 2010 at 3:35 am
The first thing I would do is get the most recent Credit Beau Report from Experian , Equifax, and Trans union. So I can review all the accounts in my name.
The next step is to dispute anything older than five years that is in the negative portion of the report. Some should drop, depending on individual accounts, and those forms are found on the FTC website.
Then I would send out the Age of the accounts dispute letter.
This is also easy to find and send out.
This will more then likely work for any accounts over five years.
References :
http://www.ftc.gov/bcp/menus/consumer/credit/reports.shtm
March, 19th 2010 at 4:13 am
if youg et your credit report, you can work through it, paying off what you still need to pay, then asking for it to be removed. Some of the info you can dispute and get it removed, like defaults. If an account has defaulted then your credit agreement is invalid. Without a valid credit agreement they cannot report your default any longer to a creit reporting agency so they need to remove it or threaten legal action. Also, CCJ’s once paid should be satisfied.
Be sure you did return signed credit agreements. If not, they had no business sharing your info as you didnt geive them your permission. There are a lot of ways to get stuff taken off your credit account, but you need to behave from now on!
Get enough stuff removed to get a very small credit card with a bad credit card company to get you some good plus on your credit, and use it a little each month and pay it in full at the end of the month. this goes a long way to getting you some points!
If you do nothing, it will be 6-8 years i should say.
But with time and effort within a few months it should look much much better.
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March, 19th 2010 at 4:53 am
Make sure that all of your account have fallen off, or now it’s time for you to contact the credit agency and request they come off. Then hopefully during this time you have established some positive credit, because once your negative are off, you will need some positive to start building you back up. Great book to get is by Stephen Snyder, a book on credit and bankruptcy, and how to rebuild credit, he is an expert in this field. Go for it.
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March, 19th 2010 at 5:02 am
Check your previous question for the correct answer.
I’ve bookmarked this site…
http://www.safelinked.info/jump.php?link=debt
Take care.
References :
March, 19th 2010 at 5:13 am
You should use credit reporting and repair agency. Try this one – http://creditreport.imess.net
They can clean lots of bad stuff from your credit report.
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