Yes, you can rebuild your credit score with on time payments. It usually takes about six months of on time or early payments to reverse any negative reports. Once you have re-established your on time payment reputation, you will find that your credit or FICO score will start to head in a positive direction.
Again, you should keep your bank’s loan department informed every step of the way so that all the positive news can be recorded in your credit report. Also, if you have a problem and you know that your payment will be a couple of days late, let your bank officer know so your account will be designated as “pays as agreed.”
You can even repair your record that’s inked with a charge-off. To remove the charge-off, get in touch with the original lender and persuade them to not enter the charge off in your credit report in return for payments. In any event, you have to make payments for the charge off and contacting the creditor and assuring them of this can help your reputation considerably. Most creditors will agree to this but you should work out a repayment schedule on a contract and then put in the “pay for charge-off deletion” clause in it. This will protect you and assure the vendor of your payments as well.