Helpful Tips for Erasing Your Bad Credit
By Talbert Williams
Bad credit can have a harmful effect on a number of things. If
you have a bad credit, then you may not be able to get a loan or
a credit card on the terms that are favorable to you. Moreover,
it can even prevent you from getting some jobs. Thus, it is very
important to erase bad credit.
To erase bad credit, the most important thing that you need to do
is to repay your old debts. By repaying these debts, no more
negative reports would be filed in your credit history. Another
thing to do in order to erase bad credit is to add some positive
reports to your credit history.
There are a number of ways of doing this, which include opening a
new savings account, applying for a credit card and keeping the
balance low, or refinancing with a home equity loan in order to
repay all the old debts. These are the first steps that you need
to take so as to erase bad credit.
A number of other things should also be taken care of to erase
bad credit. You must try to avoid bankruptcies, tax liens, and
collections. Also try to reduce the number of credit cards you
Moreover, you can ask a friend or a relative to co-sign on a
small loans or a credit card to help you re-establishing credit.
Also, to erase bad credit, you must make all your payments on
time, and should regularly get a copy of your credit report to
check for errors.
Though it is possible to erase bad credit, it takes time, and
sometimes as long as 5 to 7 years. Though your credit score may
rise slightly, it will take time to nullify the damage done over
Talbert Williams 2000-2006 All Rights Reserved
About The Author
Talbert Williams offers mortgage loans, mortgage refinancing, debt reduction, credit card debt referrals and advice.