As there are various factors involved, the length of time it takes to repair credit can depend on a variety of circumstances, from what you are trying to achieve to the severity of errors on your report. You can handle much of the work on your own; however, in certain instances enlisting professional assistance might be necessary. Credit repair agencies specialize in disputing inaccurate information on consumer reports while offering strategies on how to rebuild them as well as negotiate directly with creditors for you.
Credit repair companies begin by reviewing your credit report for errors and then identify which items need addressing. They work towards convincing credit bureaus or companies who reported incorrect data to remove these damaging marks, so your score can increase as a result.
As each person’s starting point and expectations regarding credit repair differs significantly, it could take months or years before your goals are reached. Credit repair companies can help make the process faster by helping address the root causes of poor credit; for example if you’re behind on debt payments they may help negotiate with creditors to find more lenient repayment plans and help settle past due balances more quickly.
Some credit repair services also provide other services, including dealing with collections accounts by sending letters of demand to creditors or debt collectors. This may result in your debt being dropped from your report altogether or removed completely if it’s inactive; whether legal methods like this work for you depends on your individual circumstances and are typically not included as part of credit repair costs.
Be wary when selecting a credit repair company; scams abound! For best results, ensure the fees charged by each credit repair service meet your budget. In general, they should offer written contracts detailing their services with an option to cancel within three business days; alternatively you could dispute inaccurate information yourself for free by visiting credit bureau websites or working with nonprofit counselors.
