When someone’s credit is suffering due to an inability to pay all of his monthly bills on time and in full, he may start to ask himself “How long does it take to fix your credit score?” This individual knows that he can do most of the credit repair himself, at no cost, but is unsure about how much time is required before he sees improvement in his credit score. The following information will shed some light on this topic.
Phoenix, AZ -- (SBWIRE) -- 11/21/2012 -- It can take anywhere from seven to ten years to repair one’s credit, so it is likely to be at least that long before one notices visible improvement in one’s credit score. Particular financial difficulties remain on one’s credit report for specific amounts of time. All of them contribute to answering the question “How long does it take to fix a credit score?” For example, foreclosures and late payments stay on one’s credit record for 7 years. Collections and Chapter 13 bankruptcies also stick to one for 7 years. Chapter 7 bankruptcy stays on one’s history for 10 full years, and there is no time limit for unpaid tax liens. The longer an item remains on one’s credit report, the longer it takes to fix one’s score.
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Before serious damage is done, contact all of one’s creditors to let them know there’s a financial difficulty that precludes one from making timely, full monthly payments. Ask if creditors can help devise a mutually satisfactory repayment arrangement so all parties are working toward the same goal. Most creditors appreciate getting their money back and are willing to help a customer out during times of monetary trouble. Keep in mind that debt payments more than 90 days past due stay on one’s credit report for two years, so be sure to work hard at not missing any scheduled payments at all. Set up a reminder of when each bill should be paid or use the free automatic bill pay feature which is available through most online banking accounts. Any or all of these tips will help repair poor credit.
The reply to “How long does it take to fix your credit score?” is this: It is totally up to the individual. The harder one works to get back on a positive financial track, the sooner his credit score will improve. Make every effort to eliminate poor spending habits, use one’s savings to pay off one’s debt, and/or ask for help from family members or friends, and one’s score will get better in as short a time as a few months.
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www.Credit-yogi.com, an online marketing company in Pittsfield, Massachusetts, has more information about ways to repair one’s credit score, and someone is always available to share it with people.