How to REFURBISH YOUR CREDIT IMAGE.

Introduction

Often people who have been through a major economic setback such as bankruptcy fear they will never establish good credit again. Federal law allows negative information to remain on your credit report for seven or even ten years (for bankruptcy).Cleaning up a blemished credit history will take time, but which persistence and a focused strategy, within a year you can restore your credit. Lenders, credit card companies, and solicitors will begin contacting you again. Be wise about the credit you decide to establish and make sure your current situation can handle such credit. Your first step involves reviewing your credit report for any outdated or inaccurate information. If accounts you have paid in full are still listed as unpaid on the report, immediately notify the credit bureau. Try to pay off any accounts that are behind. Before you send a check, ask the credit to remove all negative information from your credit file in exchange for you taking care of the outstanding balance. Although under no obligation to agree, the creditor may be willing to remove at least some of the negative information. For example, if you overextended yourself to a department store, it may be eager to keep your business and may remove a problematic notation.