Can I Start A New Credit Report? – Key Tips
If you hit a bad shot in the game of golf, you have one of two options moving forward: you can either deal with the poor shot and strive to make a better shot on your next stroke or you can drop a new ball and essentially hit a do-over, or a mulligan. In many cases, the mulligan trumps the former option. But unlike golf, there are no mulligans when it comes many things in life – like your credit history. Yes, those with poor credit history – and thereby a poor credit score – often wonder if there’s a way for them to hit the reset switch and essentially start over.
Essentially, the closest thing to accomplishing this is bankruptcy, but this method of “starting over” can actually do more harm than good over the short term, as bankruptcy can stay on your credit report for up to 10 years. Can I Start A New Credit Report? Here’s a look at some common misconceptions that people have when it comes to their credit history and starting over: