The truth about erasing bad credit

If anyone ever tells you they can erase your bad credit instantly you can be sure that they are scamming you. There is no "easy" or "quick" way to erase bad credit, but there are ways that you can make your bad credit better (and make your loans and car payments cheaper).

By federal law, if you have bad credit due to a missed payment on a credit card or a late payment on your mortage, that "bad mark" can be on your credit history for 7 years. While there's no way to get that mark off your history if it's true (you can dispute any inaccurate or false bad credit ratings to have them erased) you can do things to make your credit better by how you manage your debt and finances now and in the future.

What you can do to "erase" your bad credit

Even though you have bad credit, you do not need to live like you have bad credit. Even though you've made mistakes in the past with your debt, you don't need to keep making those mistakes in the future. If you have lots of monthly payments, keep on working to pay them off and if those payments are overwhelming, there are non-profit organizations out there that will help you get your debt consolidated and your payments smaller.

Once you've got your payments in-line and on-time, keep on working towards living in your means and getting yourself debt free. The trick with getting your bad credit erased is to not play the credit card and loan game. Don't fall down the hill of debt and get in more and more debt. If you get yourself back into a situation where you can miss another payment, you can severely hamper your chances of getting a good low interest loan or just having lots of money in your savings account.

Once you have one of your credit cards pay off, cancel that card and take away that chance to use it and get yourself back into debt. While its good to have a credit card around for dire emergencies, having more than 2 credit cards is playing with fire and can get yourself into trouble. When you go to the store, even though you can earn "points" with a credit card, buy your stuff with cash. Cash helps you see how much money you actually have and helps control your spending habits and impulse purchases that can happen with a plastic card. For best results in erasing your bad credit, don't even take your credit cards with you to the store, leave them at home, safe and away from temptation.