How long does it take to heal bad credit?

This month I will pay off my final collection agency credit card bill-meaning I will owe nothing. My credit rating and history though is pretty bad-How long will it take for my credit to to'heal'?

bdancer is correct as far as she goes.

The best and quickest way is to get a couple of credit cards and use them for everyday thing, be careful never to exceed 30% of your credit limit and pay in full every month before the due date.

It takes 7 years from the date of delinquency for negatives to fall off your report. However, as delinquencies age, they have less impact on your score.

A 2 year consistent on time payment history will make a big improvement.

It will still show up as a negative account now in good standings , it may still take some time but why be in a hurry to get in the credit trap again..

Hi,

It takes up to six months to show up on your credit score provided everything else is proper in the meantime. Check out http://financeguru.consumerspot.info for some useful info and tips on building credit score quickly. Good luck!