How Long Does It Take To Repair Credit
If you have credit problems, it is realistic to consider credit repair.
Understanding credit and the effects that bad credit can have can be hard for most consumers and they have a lot of questions.
As a credit repair specialist, here are five of the most common questions that I have encountered:
Most creditors use the FICO score to assess the risk that they are taking on by lending you money or selling you things on credit.
The lower your score is, the higher their risk is.
If you have a low score, your application will most likely be denied and if it is approved, you will most likely be charged a higher interest rate and you may get a shorter term.
A low score can even make your insurance rates higher and bad credit can keep you from being hired by some employers.
Secondly, you need to know that credit repair is possible.
There are a lot of creditors, and even government agencies, that discourage people when asked, "Is it possible to repair my credit?" It is true, your credit report contains history and in many instances, history just can't be erased.
However, a lot of the reports that I have seen that are calculated into the score are erroneous.
They are flat wrong, they were not reported or updated in a timely fashion, or they are in error when it comes to consumer protection laws.
All of these can be removed from your credit report thus improving your score.
Third, I will answer the question, "How long does it take to repair credit?" Your score simply cannot be improved in less than 30 days.
If you work the system it takes at least 35 days to see any improvement.
Over a period of six months, your score can be drastically improved if there are erroneous reports on your file.
Fourth, "Can I repair my credit myself?" You can attempt to repair your credit yourself; however, there are a lot of confusing things to deal with.
Taking things off your file that are clearly not yours is easy.
You just fill out a dispute form and if the creditor can't prove the report is legitimate within 30 days, it will be removed from your file by the credit agency.
Let me ask you, "Are you comfortable with your knowledge of your rights as a consumer?" If not, you will probably get better results by hiring a credit repair specialist.
Fifth, there are many benefits to working with a professional to repair your credit.
You won't have to deal with the stress first of all.
You also will have a representative with knowledge of the credit system and consumer protection laws working for you.
**FICO is a registered trademark of Fair Isaac Corporation.
Understanding credit and the effects that bad credit can have can be hard for most consumers and they have a lot of questions.
As a credit repair specialist, here are five of the most common questions that I have encountered:
- *What will be affected by my credit problems?*Is it possible to repair my credit?*How long does it take to repair credit?*Can I repair my credit myself?*What are the benefits of hiring a credit repair specialist?
Most creditors use the FICO score to assess the risk that they are taking on by lending you money or selling you things on credit.
The lower your score is, the higher their risk is.
If you have a low score, your application will most likely be denied and if it is approved, you will most likely be charged a higher interest rate and you may get a shorter term.
A low score can even make your insurance rates higher and bad credit can keep you from being hired by some employers.
Secondly, you need to know that credit repair is possible.
There are a lot of creditors, and even government agencies, that discourage people when asked, "Is it possible to repair my credit?" It is true, your credit report contains history and in many instances, history just can't be erased.
However, a lot of the reports that I have seen that are calculated into the score are erroneous.
They are flat wrong, they were not reported or updated in a timely fashion, or they are in error when it comes to consumer protection laws.
All of these can be removed from your credit report thus improving your score.
Third, I will answer the question, "How long does it take to repair credit?" Your score simply cannot be improved in less than 30 days.
If you work the system it takes at least 35 days to see any improvement.
Over a period of six months, your score can be drastically improved if there are erroneous reports on your file.
Fourth, "Can I repair my credit myself?" You can attempt to repair your credit yourself; however, there are a lot of confusing things to deal with.
Taking things off your file that are clearly not yours is easy.
You just fill out a dispute form and if the creditor can't prove the report is legitimate within 30 days, it will be removed from your file by the credit agency.
Let me ask you, "Are you comfortable with your knowledge of your rights as a consumer?" If not, you will probably get better results by hiring a credit repair specialist.
Fifth, there are many benefits to working with a professional to repair your credit.
You won't have to deal with the stress first of all.
You also will have a representative with knowledge of the credit system and consumer protection laws working for you.
**FICO is a registered trademark of Fair Isaac Corporation.
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