Rebuilding credit?

Question

I can be honest when i say i have had some bad credit. I was making payments but than my place of work (in Iowa) was flooded and so they where no longer able to employ me. Now they are back in business and i am able to get my job back. I know i should have saved before this went on, so i went to talk to someone about setting up a savings account. I called all the companies i owe money to and made arragements with them. so do you know how soon will my on time payments show on my credit report and what is a good way to rebuild my credit? thanks!!

Answer 1

things are reported to each credit agency about  every 30 days.  depending on how far behind you got, it may not take as long as you think to get it back in good standing.  if you talked to your companies right away about your situation, they may be a little more lenient on reporting.  pull your credit now and see where it stands and then pull it every 60 days or so and check it.  i'm sorry you had hard times up there.  if your employer offers a 401K, join it asap its a good way to save.  if they don't look into a Roth IRA.  you can get those through a financial planner or even your bank.  tax free money! good luck