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a great way to get good credit is save a thousand dollars and then borrow a thousand dollars for a year while they hold your thousand and then pay off a hundered a month for the first 7 months then just pay what they charge you and make sure they will put it on your credit score

I have seen 10yr old collections on credit reports.

The real question is HOW LONG DOES IT HURT YOUR SCORE? That answer is 24 months. Derogatory items HURT your score for 24 months. As time goes on, they affect your score negatively less and less.

Different lenders handle old repos differently, so have a good explanation ready.

The way to PULL YOUR SCORE UP is to go and open a secured credit card (a $300 investment in your future) and KEEP IT EMPTY. This will pull your scores up, so that you don’t need co-signers in the future.

Best of luck!

As previously stated, the derogatory information stays on your credit report for seven years. However, the older a negative item is, the less effect it has on your credit score. So, as you wait for the 7 years to be up, it will have less and less of an impact. I wouldn’t bother getting a co-signer or a loan, because paying it off doesn’t make it disappear from your credit report any faster.

A negative item stays on your credit report for 7 years. I would not ask someone to co-sign for you. That’s asking too much to have someone put their credit on the line for you. You can raise your credit score by opening a credit card account and making the payments on time every time.