Can i resurrect my bad credit history by paying off a bad credit approved loan?

[Deon the Great]

i have bad credit, i was approved for a $5000 personal loan for a car, if i pay this off will it assist me in repairing my bad credit? i had a few answers to a similar question previously from people who reside in the US, i am in Australia and the credit system is a bit different, so if yo uare from Australia please let me know what you think.

 

[frankie01]

Ofcourse, you can resurrect your bad credit history when you pay your bad credit personal loan on time. Just inform your creditor to update your records.