How long does it take to REPAIR your credit report? I have one negative on my credit?

In Credit of CreditGuy (January 25, 2024 11:25 am)

4 Comments »

1. its years..the number of years depends on your state or province. Here in Canada, its typically 6 years

   Comment by susanmo70 — January 28, 2024 @ 3:45 pm

2. Derogatory items age off your credit report 7-1/2 years from the date of first deficiency. NOTHING restarts that clock. The older the item, the less impact on your score.

   If you settle the negative item, be sure to get a written agreement and don’t give the collector direct access to your bank account. You can often settle for less than the full balance. Ask fo a delete for payment. Some will, some won’t.

   Comment by bdancer222 — February 1, 2024 @ 3:18 am

3. you say one negative but that doesnt tell us anything it could be a bk, lien, one late payment, a collection account, etc…they all carry different weight….if you want to restate your question you can get better answers… unsure about bk and liens bks depend on which chapter but most other negative info 7yrs. with late payments and collections the more they age the less impact. i think it takes a year or two for a late and possibly a collection to not affect the score so much.
   if you make on time payments with your current accounts then you should still be in good shape.

   Comment by pynk_deville — February 3, 2024 @ 10:54 am

4. if you go to creditinfocenter.com and read over there articles, they say you can start to see real results in 3 to 6 months if you follow there plans of action.
   I’ve only been at it a few weeks and am documenting it as I go

   Comment by eq_alias — February 6, 2024 @ 8:03 pm

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