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Question: I am in process of rebuilding credit. All debt is settled. IRS paid in full lien released. Credit cards settled for lower amounts and have zero balanced. Have now qualified for low amount credit cards that I pay in full every month. Credit reports show many late payments from past. Working with Lexington law firm to help with negative credit entries. Been in good standing only 3 years. Have great income low credit rating. Still have 30 negative listings. Credit score only 700 now. Am I doomed for another 4 years. Trying to get good mortgage rate. Response: Unfortunately, with 30 negative listings in your profile, it may take more than four years for your credit to recover. Generally, all derogatory information in your file should fall off after seven years. So, realistically, you should give it seven years for your credit to recover regardless of what you have been told by a "credit repair company."