There are many companies that promise to instantly repair your credit history. This is impossible. It can take years to rebuild your credit history and raise your credit score.
Features
Your credit history is a record of all of your borrowing from the last seven years. It also includes things like bankruptcies, court judgments and liens.
Time Frame
Most of the information stays on your credit report for seven years. After that, it's erased. Bankruptcies can stay on your credit report for up to 13 years. Certain things, like defaults on college loans, can stay on there indefinitely.
Misconceptions
Some people believe that a credit history can be repaired instantly. This is not true. No "credit repair" company can erase negative information from your credit report unless that information was incorrect in the first place.
Prevention/Solution
The easiest way to avoid ruining your credit is to make all of your payments on time. Even a single missed or late credit card payment can negatively affect your credit score.
Benefits
The main benefit of having a good credit score is easy access to cheap credit. The lower the score, the more difficult it is to borrow money. A low credit score can also keep you from getting your dream job, as many employers now look at the credit history of potential employees.
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