Credit
July 24, 2019
By Mary Beth Eastman

How Fast Can You Improve Your Credit Score With Credit Repair Companies?

Simple. Thrifty. Living.

Having a poor credit score makes life expensive. If you have a low rating, then you probably pay a higher price for your car insurance, rent, and loans. Companies may also force you to pay deposits for your utilities, smartphone account, and apartment.

Companies justify charging you higher prices and extra deposits because your credit score marks you as a big risk.

Hiring a credit repair company could make your life more affordable. But how long will it take credit repair professionals to improve your credit score?

More than 20% of Americans have inaccurate items on their credit reports. Those items can drag down their credit scores. Luckily, you can dispute inaccuracies and have them removed from your credit history.

Changing your credit history takes some time, though.

When a credit repair company discovers a potential error, it has to send a report to the credit reporting agencies (Equifax, TransUnion, and Experian).

Once the agencies get notified, they have 30 days to start investigating the dispute.

In most cases, you will wait for at least one month before the error gets corrected.

Keep in mind that the agencies’ investigations may not find any errors. If an agency disagrees with you, you can add a statement to the report. The statement will tell others that you dispute the item. You can also hire a lawyer to represent you in court. Some credit repair companies provide lawyers for an additional fee.

Removing an incorrect item from your credit report can make your score jump within a couple of months.

Most credit-improvement strategies take longer. When you work with a credit repair company, they will probably give you advice that includes:

  • Paying all of your bills on time.
  • Repaying high-interest credit card debt.
  • Opening a secured credit card so you can rebuild your credit safely.
  • Settling with collections agencies as soon as possible.

You won’t see an immediate improvement in your credit score. These strategies can take several months or years before you see significant results.

Still, each positive step that you make will move you a little closer to a good credit score. Your score may only improve by a couple of points per month. Use that as motivation to stay focused on your goal!

Make sure you only hire a reputable, affordable credit repair company, to protect yourself from scams. We’ve carefully reviewed the best, including the popular Lexington Law, so you know exactly what you’re getting.

  • No comments yet. Be the first to get the conversation started. Here's some food for thought:

    Do you have any thoughts?

Submit a Comment

Your email address will not be published. Required fields are marked *

Advertising Disclosure

Advertising Disclaimer: Simple. Thrifty. Living. does receive compensation for some of the services that we recommend, although we only recommend services that we truly believe are the best.