No matter what financial decisions or unexpected events have caused your credit to decline, having a low score can be distressing and it is crucial that you understand how long it will take for repair to happen so you can make informed decisions and regain financial freedom.
Rebuilding your credit can take time depending on its severity and what steps are taken to restore it. There are some steps you can take to speed up this process though.
One of the most essential steps you can take for improving your credit report is disputing errors on it. Credit bureaus must review and respond within 30 days; using a reliable credit repair service like TheCreditpros may help expedite this process faster, since they file numerous disputes each month and have strong relationships with credit bureaus that give their disputes the best chance of being reviewed.
Pay your bills on time and reduce debt load – two essential strategies for speeding up credit repair. Since payment history accounts for 35% of your credit score, keeping on top of payments and avoiding being delinquent is paramount to improving it. Furthermore, keeping an emergency savings fund may prevent having to turn back to credit cards when something major arises that might harm it further.
Rebuilding Your Credit After Bankruptcy
After filing bankruptcy or having loans go into default or collections or experiencing other serious financial issues that affected your score negatively, rebuilding it can take years of patience and care in order to regain good standing with lenders and creditors. Rushing can cause you to return to habits which led to bankruptcy in the first place and can only delay progress further.
Avoid companies offering to fix your credit for a fee. Under the Credit Repair Organizations Act, no company can promise they can remove bankruptcies or other negative items from your report – such claims tend to be scams. Work hard and be patient as you take steps to improve your credit. For more information, reach out to TheCreditpros’ credit repair specialists and request a complimentary consultation without any obligations attached. They can connect you with an expert who can discuss the specifics of your situation and offer personalized advice to help reach your goals. Simply complete a quick online form to connect with one. You may be surprised to see just how quickly things change!
