How quickly to settled debts get taken off my credit score?

Question

Hello everyone, I have recently been settling debts which I have had for a few years I have ordered my online credit report which I am sorry to say showed as very poor, now that I have cleared my debts can you please tell me how long it will take for them to come off and for my credit rating to improve? Thanks in advance.

Answer 1

Basically they will stay on your report for 6 years. It's a nightmare sometimes

Answer 2

You are a bad risk but it will show you have settled. I think but don't know your credit scoring will increase over the next five/six years. It will be a pain but as you rebuild your credit rating you will find less difficulty in borrowing again and will find that you will not have to pay  higher rates of interest. Advice do  not overstretch yourself again but you know that. Good luck. I think Ian H advice is good if you stick to it

Answer 3

They will be on there for 6 years.

The thing to do now is to set about improving your credit rating.

The best way to do this is to actually have some form of credit and never miss a payment.

ie.  Have a credit card, spend a small amount each month but settle it in full.

This will improve your rating and help negate the bad rating for your previous debts.

Answer 4

Even though you paid them off without a pay to delete letter they will remain on your report for 7 years.

Answer 5

six years, but you can add a note saying that you've cleared the debts, this may help you get credit earlier.