The content is accurate at the time of publication and is subject to change.

Following the economic recession and loss of jobs, many families have been struggling to balance their check books. Things have been going from bad to worse as credit card payments mount up and people are late or unable to pay. When these things happen automatically the credit history is affected adversely. There are of course ways to clear your credit but every options will take time. Once your credit has a blemish on it, there is no quick fix solution to making things alright. You can however take various steps to make the journey towards a better credit score in the long run of things. On an average for the credit score to improve after a spell is 7 years.

The Fair Credit Reporting Act states that after 7 years debts must be deleted if there is inactivity on your account. If there is some report of a lawsuit or a judgment against you on the credit report then that will also stay there for a period of seven years. In case of any negative remarks regarding a criminal conviction being there such as a forgery then that will stay on the report indefinitely. When you make decisions and decide on your financial habits and doings, do so with discretion and due thought. Hasty decisions and judgments can be quite expensive to your pockets and your credit report.

When there is a bankruptcy filed due to financial troubles, then it will be put on the credit report for a period of ten years and will be cleared only after these many years. Thus all your financial decisions and approaches will be shadowed by this fact for ten years. If you had a payment due date that you missed then that information will appear from the date you missed till seven years from then. If you wish to clear your credit report and find that there are some claims which are incorrect you have every right to question the concerned authorities who are required to respond immediately within a stipulated time period. During the time the investigation is being done and the question has been raised you are not liable to make any payments. The charges must be cleared before you have to proceed with your payments on the card.

If you answer falsely while applying for a credit card about your payment history or credit history then you may be denied on account of that as well. If you are denied any opportunity on account of your credit scores, then it is required that you be given a copy of your credit report with a clear reason why.