credit repair?
when can i expect to see my core score improve. this is my first time to this and it is our 6th month of this process.
Public Comments
- I purchased information at a small price from www.fixmylousycredit.com Really helped, hope it works for you.
- Well what is it you are doing to fix your credit? Typically creditors report information to the credit reporting agencies every 30 - 90 days. If you are paying your bills on time the score should start to go up. If you have filed bankruptcy it will take longer for your score to improve. If you are using one of those credit repair companies beware, many of them are scams. If this is what you are doing contact the Better Business Bureau to make sure they are legitimate. I use www.truecredit.com to monitor my credit. I'm alerted to any changes on my report and my report from all 3 agencies is updated monthly for $15.00/month.
- If you do the repair yourself, you can expect change in as little as 30-days. The best way is negotiating with the debtors about payment terms and reporting inaccuracies. Once that end is taken care of, you can dispute the information the credit bureau has on file, either by phone or online (phone is faster). My wife and I disputed info on our report in order to close on a house weeks prior. Our score went up 20 points. So there is a way to effectively change your score quickly... it just involves alot of talking and negotiating. Also, when you dispute an item, in most cases, your score will go up during the 30-day time limit the bureau has to reconcile the dispute. If you have an agency working with you on this, try to double tap... meaning, perform effort to fix the problems while they're performing their efforts. God bless.
- In general, you can expect bad credit to last at least two years after a financial train wreck event like multiple defaults and charge-offs....This is because your FICO score is most heavily weighted on what has happened in the past 24 months....If you've had financial trouble and you are still within this two year window time frame....you should resign yourself to having bad credit for a while....Only the passing of time will correct accurate negative info on a credit report.
- Whatever this credit repair firm does for you, it will either never occur, or it will be temporary. Why? It's a scam, and it will never repair your credit. It's a fraud on you and the credit bureaus. If it is not too late to cancel, do so. The best thing that you can do it to take the money that you paid to this criminal is to pay down your cards. Check what the FTC has to say about these scum.
- If you are involved in credit restoration the amount of time it takes really varies from company to company as well as what they have to work with on your credit report. First thing you need to consider, is the company you are using charging you by the month versus a flat fee? If they are a monthly program, don't expect much for at least a year as they have to get as much money out of you as they can to justify staying in business. This is why I always recommend people use flat fee companies. You know what you are going to pay at the beginning and most of them are willing to accept payments for that fee over time. If you are with a flat fee company, it is usually in their best interest to get your credit fixed as quickly as possible. This will usually take anywhere from six months to a year. Remember, you didn't get yourself in this situation overnight and you aren't going to get out of it overnight either. It takes time to do it PROPERLY. If you don't want that information showing up on your credit report again a few months down the road, you need to allow them the time they need to get that information removed permanently. Merely disputing information on a credit report can get it removed at least temporarily. This can often times be completed in 30 to 60 days. But, if you want it to be gone forever, there are much more detailed processes that have to be used to ensure this is going to happen. These tactics usually involve challenges using the Fair Credit Reporting Act which will often take longer to perform than mere disputing. Professional Credit Repair is a long term committment. As long as you stay actively involved in the process and remain patient, the process can work quite well. Of course this is all dependent on which company you are using. Unfortunately, there are more scam companies out there than legitimate ones. I hope you did your due dilligence before using whichever company you decided to go with. If you have any further questions regarding this or any other credit issue, please feel free to contact me at nebula7693@yahoo.com
* Some answers may have been provided by Yahoo! Answers.