Credit Repair

Fix Your Credit Score Quickly by Understanding How Credit Reporting Works and How to Clean It Up

You can improve your credit scores by identifying errors and getting them fixed or removed as soon as possible, as well as getting caught up on your bills and continuing to pay them on time. Unfortunately, there is no one way to fix your credit score quickly by a specific date truly. It’s going to take some patience on your part. You can’t raise the score overnight.

Don’t believe any credit repair organization that tries to tell you that they can help you raise it by hundreds of points by a specific date. It is actually against the law for them to make promises like that. The legitimate credit repair companies will be upfront that they can’t perform miracles and offer you a free consultation to let you know if your financial situation is fixable and if there is anything they can legally do to help you.

There are a few things to keep in mind as you work to improve your score. For starters, it helps to know what criteria the three bureaus consider when configuring your score and what all needs to be worked on. In addition to late payments and delinquencies, there are factors like the number of inquiries, credit history length, credit utilization ratio (how much you owe compared to the limit for each account), and credit mix: the more types of credit accounts you have, the better.

Fix Your Credit Score Quickly By Better Management

As you try to fix your credit score quickly (as best you can), you also need to start managing your credit better. Too many inquiries? Wait a while before applying for any new card or loan. Your current balance with credit cards is above 50% of the limit? Try using that card (or cards) less and pay more each month.

If you’ve already defaulted on any accounts, try to get them settled as soon as possible – ideally through debt management or negotiation service. If the delinquent accounts are not recent and have had them for years, you might get the information removed. Each state has its laws regarding how long a delinquent account can stay on the credit reports. Learn about your state laws and ask a credit repair company to help you get it removed if you don’t think it should still be there.

Once you have a better understanding of how credit reporting works, you can take the steps necessary to fix your credit score quickly. Also, consider getting a free consultation from Lexington Law – a legitimate credit repair company that is honest and upfront about what they might be able to help you with.

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