The Truth About Fast Credit Repair
If you are interested in credit repair, you probably have seen advertisements all over the internet of companies claiming that they can improve your credit score quickly.
These companies try to lure you in with promises of 100 point gains in your credit score in a short about of time.
As with anything in life, if it sounds too good to be true, it probably is.
While there are certainly legitimate strategies that you can implement for faster credit repair, the reality is that when you are talking about fast credit repair, the term fast is relative.
In terms of credit repair, improving your credit score quickly is still going to take months.
In some situations, it can even take a year or more.
Just how fast you can improve your credit score has to do with two things - your unique credit situation and how much cash you have.
As an example, if your payment history is relatively good and your problem is that you are maxed out on all of your credit cards the speed at which you can improve your credit is going to hinge on how quickly you are able to pay down your debts.
Or, if you have a collection account and have the funds to arrange a pay for delete, you should expect to see an improvement in your credit score as soon as the account is deleted from your credit file.
On the other hand, if you just had a foreclosure, other than reestablishing your credit history, there is very little that you are going to be able to do to improve your credit situation.
It is just going to take time for you to develop a history of paying your bills on time.
The most important thing to understand in this is that there are no "quick fixes" for bad credit that are easy.
Repairing credit takes time and very often it also takes money.
If a company is promising that they can work miracles, chances are that they are not using legitimate means.
Do not be lured in by promises that you can get bankruptcies and foreclosures removed from your credit file.
Both will remain on your file for ten years and there is no legal way to change this.
It is not even legal for companies to make claims such as this! Credit repair is possible, but you have to understand that it is going to take commitment and hard work - just like everything else in life that is worth while.
These companies try to lure you in with promises of 100 point gains in your credit score in a short about of time.
As with anything in life, if it sounds too good to be true, it probably is.
While there are certainly legitimate strategies that you can implement for faster credit repair, the reality is that when you are talking about fast credit repair, the term fast is relative.
In terms of credit repair, improving your credit score quickly is still going to take months.
In some situations, it can even take a year or more.
Just how fast you can improve your credit score has to do with two things - your unique credit situation and how much cash you have.
As an example, if your payment history is relatively good and your problem is that you are maxed out on all of your credit cards the speed at which you can improve your credit is going to hinge on how quickly you are able to pay down your debts.
Or, if you have a collection account and have the funds to arrange a pay for delete, you should expect to see an improvement in your credit score as soon as the account is deleted from your credit file.
On the other hand, if you just had a foreclosure, other than reestablishing your credit history, there is very little that you are going to be able to do to improve your credit situation.
It is just going to take time for you to develop a history of paying your bills on time.
The most important thing to understand in this is that there are no "quick fixes" for bad credit that are easy.
Repairing credit takes time and very often it also takes money.
If a company is promising that they can work miracles, chances are that they are not using legitimate means.
Do not be lured in by promises that you can get bankruptcies and foreclosures removed from your credit file.
Both will remain on your file for ten years and there is no legal way to change this.
It is not even legal for companies to make claims such as this! Credit repair is possible, but you have to understand that it is going to take commitment and hard work - just like everything else in life that is worth while.
