The process still takes 1-6 months, depending on the number of disputes you need to make. The average consumer usually completes the credit repair process in about 3 to 6 months, but it may be less if their reports have only a few errors to fix. Unfortunately, there is no quick way to repair or fix your credit. The time it takes to rebuild your credit history depends on the severity of your credit problems and how your credit history is affected.
It could take only a few months or it could require several years of commitment. In either case, there are steps you can start taking right away to help get your credit back on track. Credit reporting agencies are required by federal law to respond to each item in dispute within 30 days. And if they don't respond, the disputed information should be removed from the credit report.
Credit repair companies file many disputes and wait for credit bureaus to miss a deadline. Usually, the credit bureau has 30 days after receiving your dispute to investigate and verify the information. Usually, the credit bureau will contact the company that provided the information and ask you to investigate. The credit reporting agency is required to send you the results of the investigation within five business days of the completion of the investigation.
When that happens, the credit repair company takes action, calling on the consumer to announce that the item was recalled and suggesting that the consumer pay more each month to “keep up the momentum and go after the rest. Correcting or eliminating negative notes, a process sometimes called credit repair, could instantly improve your credit scores. Your credit ratings rely solely on information in your credit report, so adding positive information or removing negative information may result in rating changes. If you are 30 days late in paying a mortgage, you can repair your credit in about 9 months to three years.
So, while the repair process may take only 3 to 6 months, the time it takes to rebuild your credit may take longer. Because everyone's credit history is unique, paying attention to qualifying factors will help you better understand what you can do to improve your credit over time. There are hundreds of credit scores, but the two most common credit scoring models are created by FICO and VantageScore. How long it will take to get a good credit score will depend on where you start, what kind of negative information is on your credit report, and how quickly you can pay off the debt.
Credit repair companies make sure you know when these items are recalled, but they don't tell you when they reappear. If you are repairing your credit on your own, you determine how quickly this part of the process goes because you are in the driver's seat. The best credit repair company with the longest history of success may not be the cheapest option, but it has a history of getting the job done as quickly as possible. The views expressed here are solely those of the author, not those of the credit card issuer, and have not been reviewed, approved or otherwise endorsed by the credit card issuer.
There are legitimate companies that provide credit repair services, but the field is also known for scams, so it's important to investigate any company you are considering hiring. Rebuilding your credit can take anywhere from days to years, it all depends on what is hurting your credit. With a positive title like “credit repair”, it's no wonder people fall prey to fraudulent practices by credit repair companies. .
