How long does it take to rebuild your credit history?

 

The average person has a credit score of 645. However, if you have no public records on your credit report, this number is significantly higher at 793. When it comes to rebuilding your credit history after a bankruptcy or other event that negatively impacted your score, the time it takes will depend largely on how old you are and what type of event occurred. The best way to rebuild your credit is by being diligent with making all payments on time and keeping balances low.

How Long Will Negative Information Appear on My Credit Report?

Negative information can be detrimental to your credit report and score. If you have been denied a loan or been told by a creditor that they will not extend credit due to negative information on your account, this is when it's important to know how long the negative information will remain on your credit report.

The length of time differs depending on the type of debt and whether it was paid off or settled in full. For example, unpaid medical debts are reported for seven years while unpaid student loans may stay on your credit report for up to 10 years. Whether you're planning on applying for a new line of credit soon or want to know what might happen if you don't pay back an old bill, understanding how long these items will appear can help guide decisions.

Read More: https://www.creditrepairease.com/blog/how-long-does-it-take-to-rebuild-your-credit-history/