Author: Ron Barrett Added: July 1, 2008
The fact is, the information that is contained on your credit report reflects your past history and cannot be changed, the best possible thing that you can begin to do to improve things is to start creating a positive credit history. Your credit history is the best indicator that prospective creditors have on how you will be expected to repay your debts in the future. Although you have changed the way you use credit from what it was in the past, you will have to realize the information that is on your reports now will remain there for up to seven years. All of the credit bureaus use weighting factors to determine your score. Of these factors, approximately 30 percent weighting is placed on credit history. By proving to your creditors that your bills can be paid on time, this will be reflected on your credit reports and begins the process of rebuilding and a positive history. This will provide the with a positive sign of what they will be able to expect in the future. The more and the bigger the problems you have had in the past the more work you will have to do to convince all of your future creditors that you deserve a second chance. Bankruptcies, collections, judgements and unpaid taxes are the ones that will affect your score the most along with any loans that have gone into default and any late payments. If you can clean up any of these issues, it will have a substantial affect on your scores. Bankruptcies will stay on your reports for up to 10 years from the date of filing, so you will be better off focusing on paying your current creditors and showing the credit bureaus that all of your current debts are getting paid as they should. This will create a new pattern and a new and higher credit score will be the result of these actions. Even though it can take a while to reverse your past credit history if it has been poor, there is no time like the present to get started. The sooner you start the more likely you will be able to secure smaller amounts of credit which will in turn, speed up the process of boosting your credit scores. Even though your past credit history looks fairly crappy, don't listen to anyone who says that it can't be changed for the better.
--- '15 Proven Credit Strategies; How to Get the Credit You Deserve' is a detailed guide that you can follow to repair and raise your credit scores. Ron Barrett outlines the strategies he has used to raise his credit scores from the low 500's to upper 600's. You can find the guide at http://www.provencreditstrategies.com/
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