How would one reverse a bad credit rating if it has been 7 years, I dont have the money to pay all the old?

things off at once but I do have the money to not get in a neg. standing with anyone new? What is the steps to take?

How would one reverse a bad credit rating if it has been 7 years, I dont have the money to pay all the old?
You cannot really reverse bad credit. The best idea is to pull your credit reports from the big three, you can get one free per year at www.annualcreditreport.com. Then start picking some of the smaller outstanding debts, and pay them. Make sure if you can to ask those debtors if you can still have an account after you have paid them off. Mantain as many open accounts as possible, and start using it again, just a little. Like buy a $6 pair of socks on one, and pay the minimum payment, like under a buck probably, and pay the minimum as long as you can, or at least 7mos. this will make your rating go up, they don't care how much money the account is, as long as you pay on time. It will take a long time to rebuild it, but if you are ready, start applying again, and using it responsibly.
Reply:Each state has a statute of limitations regarding debts. I put up a link for you to check what your state's SOL is.





Other links listed below will explain how to go about removing bad marks from your credit report, and sample letters that you can use.





Good luck





Life Experience 101
Reply:Let it fall off. After 7 yrs, it needs to come off, and you should contact all 3 credit repositories [TransUnion, Equifax, Experian] to have it removed.However, if you're not cultivating good sources of credit, your scores may not improve much. Don't 'close out' lines of credit, and don't rack up numerous credit inquiries all at once. Best bet is to charge a small amount monthly on ONE credit card, make sure it's always paid off on time.
Reply:I am not a lawyer but I am a debtor. Check your state law for statutes of limitations on debts. In most states it is probably 5 years. Also challange every bad item on your credit report with all three credit bureaus. Most should come off your report unless there are cival judgements. Good Luck