How to Repair Your Credit in a Short Time

A credit score can help or hurt you when you apply for loans or a job. Cleaning up your credit is an excellent way to help raise your credit score. This can be done quickly with a few easy steps. Also, some long-range planning can help raise your score in the long run. It takes 45 to 60 days to see any results from changes made on a credit report.

Instructions

1. Get credit reports from all three major credit bureaus (Experian, Equifax and TransUnion) for both you and your spouse. Check all line items to see if there are any errors. Report any errors online by selecting the reason for the error next to the line item on each online report.

2. Pay off any collections, liens or judgments. Negative items will affect your credit less harshly if paid in full.

3. Look at your credit card balances. Pay down your balances to less than 30% of the limit. This will help raise your score as well.

4. Follow up on any changes with your credit report. Make sure errors were removed. The credit bureaus have 30 days to respond to your request. Provide proof of payment, if needed, to ensure that paid collections, liens and judgments show as paid in full.

Tips & Warnings

• If extra money is needed to pay off or pay down any debt on your credit reports, try selling unused household items online or in a yard sale. Look at your budget and see if you can create extra funds by reducing spending, reducing unneeded services or renegotiating interest rates on credit cards. Take on extra work or a second job to earn extra money.

References

• Federal Trade Commission