Once you have managed to clear your debt problem, do not assume that suddenly your credit report will turn positive. Having an excellent credit report does not happen overnight because you don't have any negative reports anymore. It happens because you have positive credit entries in your report. The more positive credit entries on your report will give you Triple A credit, something that everyone dreams of having.
Obtaining a Triple A' credit score is only possible if you have existing loans that are updated and unproblematic. Now, coming from a debt-ridden life, it's understandable if you feel traumatized by the experience, and want to have nothing to do with loans for a while.
However, there is a simple way to get Triple A credit without having to enter into unmanageable loans. Here's what you can do for the much dreamed Triple A credit report.
The beauty of this plan is that you don't need a professional to show you (or charge you) how to fix it so you have a Triple A credit score. After all, the plan they will use can just as easily be used by the consumers since they are one and the same. So, save yourself some money, and do this credit repair Triple A credit report yourself.
Start by opening a checking or savings account. This can be done online, and will just take a few seconds of your time. When you have completed this task, make sure that there is some money in your account, and request from the bank for a secured passbook loan. The principle behind this kind of loan is that it will be secured by the money you have in your passbook. For every dollar you have there, you can have it matched with a loan.
You don't have to get a large loan. If it will make you feel better, get a small loan of $300. This amount, and the loan must not be touched by you. Remember, you don't need this money, you need the Triple A credit which this money can give you.
After 30 days, pay back the loan, and request your bank to submit a positive credit report under your name for having managed the loan well.
Another plan would be to request for a 12 month $1,000 loan. Of course, since this is a secured loan, you should have the same amount in your passbook which you can't touch until after you have paid back your loan.
You can however use the other $1,000 to open another account with another bank, and do the same thing, which is to request for a secured loan. You can then go a third bank and do the same thing again.
Now you have 3 $1,000 loans, and $4,000 in total cash. There will be a small interest that you will end up paying for all 3 loans but in exchange you get that much vaunted Triple A credit score.
In all, by following these steps and not getting yourself into more debt, you should be well on your way to a Triple A credit score in 30 days.
With this Triple A credit report, you are home free with great credit standing, all loans paid off, and a clean slate. Congratulations!
Just make sure that the banks you have your loans with will do their job properly, and report that you have managed to fulfill your part of the loan agreement and give you a positive credit rating on your credit report.