Credit Repair FAQ: How You Can Fix Your Credit

With so many people struggling in a stagnant economy, credit card debt is rising, and it is becoming harder to make minimum monthly credit card payments. High debt levels, late payments, and missed payments, all contribute to a negative credit score. Unfortunately, these situations are common for many consumers, and result in a poor credit score. If your credit score has suffered, you can improve it, if you have the answers to the most common credit card repair questions.

How do I improve my credit?

Perhaps the most common question when it comes to credit card repair, it is also the most complicated. There are many things that can negatively impact your credit, including: late payments, charge offs, foreclosures, judgments, repossessions, bankruptcies, accounts in collection, and high debt to credit ratios. If your credit score is poor mainly because you have high levels of debt, paying off your credit cards will quickly improve your credit. However, if you have more serious problems, you may have to negotiate with creditors to remove information from your credit report, or have a professional service act on your behalf.

How fast can I improve my credit?

It takes most people about 3 months to see some improvement in their credit score once they have started trying to improve it, and can take as long as 6 to 9 months for your score to fully improve. The type of negative information on your credit report will determine how long it will take to improve your credit score. Paying off debt will improve your credit score immediately, but it can take months of negotiation to remove other items form your credit report.

Can I get a free copy of my credit report to review?

There are many ways to get a copy of your credit report, and you will usually have to pay at least a nominal fee. If you use the services of a professional credit card repair agency, a copy of your credit report is usually included in their fees, or you can obtain a copy for your own use from many different websites. The only way to get a free copy of your credit report is to go to annualcreditreport.com, a website sponsored by the three credit reporting bureaus.

What information can be removed from my credit report?

Virtually any negative information, except bankruptcy, can be removed from your credit report. Most of the time the creditor or agency that is responsible for the negative information will remove it after some negotiation. Bankruptcy, however, is public record and remains on a person's record for seven years.

Do I need the help of a professional credit repair service to fix my credit?

Depending on the type of problems on your credit report, you may be able to improve your score by yourself, or you may benefit more from professional help. The more negative information your report contains, such as bankruptcies, foreclosures, charge-offs, and late payments, the harder it is to fix your credit. Professional credit repair services have the knowledge to negotiate with creditors and clear up some of the worst credit information.