{"id":36351,"date":"2022-11-22T09:18:54","date_gmt":"2022-11-22T17:18:54","guid":{"rendered":"https:\/\/financer.com\/?post_type=wiki&p=36351"},"modified":"2024-01-19T08:16:29","modified_gmt":"2024-01-19T16:16:29","slug":"how-long-to-rebuild-credit","status":"publish","type":"wiki","link":"https:\/\/financer.com\/personal-finance\/articles\/how-long-to-rebuild-credit\/","title":{"rendered":"How Long Does It Take To Rebuild Credit"},"content":{"rendered":"\n
If you\u2019ve had trouble paying bills<\/a> in the past, a credit score drop might have hurt your ability to secure affordable loans in the future. <\/p>\n\n\n\n But that\u2019s not necessarily a permanent problem. If you keep pace with the goals you\u2019ve set to rebuild your credit, you can return to a positive financial future sooner than you might think. <\/p>\n\n\n\n Keep reading to learn more about how long it takes to rebuild your credit and what your first steps should be. <\/p>\n\n\n\n Credit scores<\/a>, or credit reports, are used as a way to assess your ability to repay a loan. The higher a credit score<\/a> is, the more likely it will be that potential lenders will approve your loan application. <\/p>\n\n\n Negative payment information on your credit profile, like bankruptcy<\/a>, late payments, and collections, will remain on your credit report for seven years<\/strong>. Chapter 7 bankruptcies\u00a0remain for up to 10 years.<\/p><\/div>\n\n\n A low credit score can prevent you from getting a loan at all. If you\u2019ve had a significant credit score<\/a> drop, and you\u2019re looking to rebuild your credit, you may be wondering what you can do to get things back on track. <\/p>\n\n\n\nWhat Is Rebuilding Credit?<\/h2>\n\n\n\n