It might take some time but your bad credit score is not a death sentence.

If you seek redemption and wish to improve your credit score, we have some good news for you – it is absolutely possible.

Improved credit score

First, you need to find out what specifically caused damage to your credit score.

There have been instances where low credit scores were simply errors and when discovered, the error was corrected. However, if you are able to identify where you went wrong with your credit history. It will give you a clear report, on which lenders you have defaulted or have been listed as a late payer.

The most common problem is late payments or defaulting on payments. If this is, in fact, your problem, then we have both good and bad news. If you settle all your outstanding debt and stick to the arrangements you have made, you should start improving your credit score.

The good news is that it is repairable

The bad news – it could take up to five years. If you are guilty of defaulting on payments then it could affect your credit score for up to five years. However, all you need to do is get on the straight and narrow road – it is the only way leading to a good credit score.

Although it make take some time, it is better to be in good standing with all your lenders to ensure your lending ability in the future. Ensure that you make all your payments and that you make them on time.

You will rebuild your credit score

Eventually, you will be able to get credit again.

Keep in mind that banks and stores aren’t the only credit providers. Telecommunications or utilities companies are also included in this category. Make sure you cover all your debt accounts to improve your credit score. One defaulted or late payment account could affect your credit score, which is information available to other potential lenders.

You need to absolutely cover all your bills – and always on time.