Smoovy Loco says:

Depending on how bad it is, it could take a few years, maybe more. Bad credit is reported up to 7 years, so depending on how far back the debts go it can be a judgement call. I’ll give you an example. Let’s say that you got a credit card 3 years ago, maxed it out and fell behind. Now it’s in collections. Depending on when it went into collections, that’s when the 7-year clock starts. In this situation, you could do a couple of things, you could simply pay nothing and wait it out, or you can contact them and make arrangements for a settlement. Now if you were to make a settlement, it would still show on your credit paid, but seriously delinquent. Another option if you were going to settle would be a "pay for deletion". What that is you would pay a certain amount to them for them to delete it from your credit. Before you do this I would strongly suggest you get something in writing on their company letterhead stating that if you pay x amount account so&so will be deleted from your report. Collection agencies are grimy that they’ll gas you up with a fake promise and take your money, so if you’re going to go that route, be sure to get it in writing! Another thing is if you haven’t gotten a checking and saving account already, it would be a good idea to do so. Even though this doesn’t affect your credit directly, it can give you the inside track through a bank for credit cards, auto loans, mortgages because you’re already a customer with them.

Then I would try to get a secured credit card either where you bank or at Bank of America, Wells Fargo, Orchard Bank (HSBC). You’ll have to put a deposit upfront to secure the same amount in a line of credit, but at least you’ll have a credit card to start off with. Make small purchases (like $50 or so) that can be paid off in full on time every month. Then, increase your security deposit to increase your limit every 2-3 months. Reason I say this, is that usually after a year of perfect payment history, you’ll get your deposit back with interest, and the limit you have at the time will be unsecured. It looks better when your credit line is higher because it shows that you can be trusted with a high limit, and you’ll receive offers for other credit cards.

Another thing is to ask a close friend or family member with good credit to add you to their credit card as an authorized user, but you don’t get a card. It would be for reporting purposes only . If you’re able to to do that, make sure that the credit card compay includes that account to your credit report.

Lastly, if you’re paying rent, utilities, insurance, day care, cell phone , cable, etc. every month you can start receiving credit for that. The agency is called PRBC. There’s a lot of information that should be helpful to you.

Good Luck!
References :
http://www.bankofamerica.com/creditcards/index.cfm?context_id=marketing_detail&offer_id=ECOMM090XFEQ00400800121983EN001

https://www.wellsfargo.com/credit_cards/select_card/secured/

http://www.orchardbank.com/ecare/home_nli

http://prbc.com/consumers/how/prbc.php

Clix says:

I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.
References :
http://tinyurl.com/y4wc8r