How long does it take for a person's credit to repair?

Question

I have really bad credit....If say I owe like 10 thousand dollars and I pay it off, how long will it take after i pay it for me to be considered as good credit?

Answer 1

Depends on what's on there.  If it's judgements, suits, etc., that can take longer than just late payments and accounts in collectons.  Write-offs, bad.

Answer 2

Even if you pay it off (which is always good to hear), you will have to "prove" again that you are trustworthy.

It also depends on "what kind" of bad debt you have.

You can try negotiating with the Companies that you owe that they will remove "bad marks" if you pay in full.  But ALWAYS get it in writing.

Once everything is paid off.  Start small (1 credit card) and pay everything off at the end of the month.  Show that you have changed and probably in a year or more things will be looking better.