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Bad credit can have a harmful effect on a number of things. If you have a bad credit, then you may not be able to get a loan or a credit card on the terms that are favorable to you. Moreover, it can even prevent you from getting some jobs. Thus, it is very important to erase bad credit.

To erase bad credit, the most important thing that you need to do is to repay your old debts. By repaying these debts, no more negative reports would be filed in your credit history. Another thing to do in order to erase bad credit is to add some positive reports to your credit history.

There are a number of ways of doing this, which include opening a new savings account, applying for a credit card and keeping the balance low, or refinancing with a home equity loan in order to repay all the old debts. These are the first steps that you need to take so as to erase bad credit.

A number of other things should also be taken care of to erase bad credit. You must try to avoid bankruptcies, tax liens, and collections. Also try to reduce the number of credit cards you carry.

Moreover, you can ask a friend or a relative to co-sign on a small loans or a credit card to help you re-establishing credit. Also, to erase bad credit, you must make all your payments on time, and should regularly get a copy of your credit report to check for errors.

Though it is possible to erase bad credit, it takes time, and sometimes as long as 5 to 7 years. Though your credit score may rise slightly, it will take time to nullify the damage done over the years.

Talbert Williams 2000-2006 All Rights Reserved