*Loan,banking and credit>>>credit repair

How long will it take to repair my credit?

I have a credit score of 580. I am getting a new mortgage and plan to pay off all my late bills, etc. Assuming I keep current on my home mortgage, how long will it take to get my credit score back up to a respectable level?

Depends in how bad of shape you're in - they keep 3 years of credit card history, but if you pay some off and have "available credit", your score will bump within a few months. Best bet, pay maximum on one card, minimum on the others, and when each one is paid off, DON'T close it - keep it open for available credit, but stop using that card. That strategy works best with the FICO scores rather than paying a little on each card. If you pay everything off and stay clean for 3 years, almost all of the late pays will be washed clean off of your record and you should be well into the 700's.

I don't know, but when you find out, will you let me know...thx
You are probably going to be much better off repairing your credit and then getting a new mortgage with better terms. Even if rates do increase, you will qualify for much more competitive programs and the rates should be lower for you. A bankruptcy can last 10 years on your credit report. If you do not have a bankruptcy most items should be cleared up in 7 years.

Your steps should be:
1 your first priority should be to stay current on your mortgage.
2 you should be staying current on any other payments.
3 you should be decreasing expenses and increasing income where possible
4 you should establish an emergency fund, so that a car repair or other incident does not put you more in debt
5 you should make good on your old debts, make sure that your creditor does not re-age the debt when you make a payment, I would get it in writing before I sent my payment in
Have a look here.
http://www.repair-your-credit.jims-info....
isnt it like 7 years or is that when you declare bankruptcy?
5 yrs:

Online Debt Consolidation
http://www.complete-debt-info.com/catego...