Fixing Credit – How Long Will It Take?

It actually depends on what is on your credit report.

If you have inquiries on your report it will be two years before they get removed. However, if you dispute them and the credit reporting agencies cannot show proof of them within 30 days, you are able to get them removed.

That’s probably the quickest way of fixing credit in the short term.

If you make a real effort of paying your bills on time that also helps with fixing credit as the credit agencies tend to place weight on the more recent activity showing on your credit report.

However, if you have delinquent payments showing on your report these will still take seven years before they get removed.

Having said that, 35% of your payment history makes up your credit score, so even though you will still have a delinquency showing for seven years, by paying bills and loans on time, those actions will still go toward fixing credit somewhat.

The same can be said if you have collections on your credit report. These also take 7 years to be removed.

Again it’s important to do all you can now to improve your credit score even with these things showing – like paying bills on time.

Other good basic ways of fixing credit, are only to use 50% of your credit card’s limit and not make too many inquiries for more credit.

Say if you had a medical emergency that cost you thousands of dollars because you didn’t have health insurance, and you have been unable to pay these and have a collection for those on your credit report.

Yes, this will show up for seven years and yes it will affect your credit score, but if you have also been a prompt payer of your other bills up to that point, and have some credit cards that are only used up to 50% of their credit limit, and maybe a mortgage that you’ve paid on time each month, these factors each carry a large percentage weight toward your total credit score.

Fixing credit can be done; you can improve it quickly by disputing inquiries and getting them removed if they can’t be proved within 30 days or the slower route where it can take up to seven years to get collections and delinquencies removed.