How Long Does It Take To Fix Your Credit ?

#score #months #missed payments #repair #errors #bad #card balances #depending #average

In this article we will be discussing how long does it take to fix your credit?

Often clients and potential clients always ask me how long it takes to

fix your credit? I often let them know that depends on many variables.

Dependent upon how many derogatory items you have on your credit reports,

it could take anywhere from three to six months sometimes a little longer.

If you have no derogatory items on your reports but have maxed out your

credit cards you could fix your credit in as little as 30 days or less.

For example, let's say you have 3 credit cards each with a 5000.00 limit but

all are maxed out at their limits. This means you have a high debt to credit ratio.

If your debt to credit ratio is as in this case 100 percent this will lower your credit scores

quite significantly. You would need to pay down the balance so your debt to credit.

ratio is twenty percent or less. This will cause your score to increase substantially.

If you do have derogatory items on your credit reports, you will have to dispute the items.

which could take longer. The creditors or collection agencies have 30 days validate that.

the information is accurate which many times they are unable to validate this derogatory.

information. If they are unable to validate the debt, then the derogatory information has to

be removed from your credit reports. So, the times frames will often vary.

So how long does it take to fix your credit once you start disputing the derogatory items on your credit report. ? The credit bureaus will usually update your credit reports in 30 to

60 days once the derogatory information has been proven to be inaccurate and untrue.

So, the long and short answer to the question how long does it take to fix my credit? is 3- 6 months. Always remember the quicker you dispute derogatory items on your credit reports.

and pay down the balances to a debt to credit ratio of 20 percent or less the sooner.

you will see a huge improvement in your credit scores.