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Fast Credit Repair – Is There Such A Thing?
The thought of having a lightning fast credit repair is brilliant. Wouldn’t it be great if you can repair a bad credit in just a month? But if that is the case, I don’t think the phrase “Bad Credit” will ever be invented, because everybody will be able to fix a bad credit in a flash.
So how can we consider a credit repair, a fast credit repair? I guess it depends on how bad your current situation is and what factor is making your credit ratings low. To give you a better idea, lets take a look at 2 of the factors that affect your credit score and you decide whether a fast credit repair is a myth or fact.
First is your payment history, which accounts to 35% of your credit score. Just by the word “History”, I bet you know that it means time. Now, if you had a year long of bad payment practices, I don’t think the credit bureaus will give you a higher score just because you paid your bills on time this month, not even for 2 or 3 months. Your current behavior will be observed first and if the credit bureaus are convinced that you are getting better in managing your debts then your score will go up.
Next is the length of your credit history, which accounts to 15% of your credit score. Again, you have the word “history”; your attitude towards debt in the past will affect your credit score in the future. I bet that alone proves that fast credit repair is nothing but a bait used by some companies to lure potential customers. You first have to prove that your bad actions in the past are a thing of the past, and that can be done through consistently paying your bills on time.
So whenever you are having problems with your credit score and somebody offers you a fast credit repair, ask them “how fast is fast?” Because you now know for a fact that instant credit score fixes are just not doable, maybe what they are offering you is the fastest way to fix your bad credit but that does not necessarily mean that it will be as fast as you might think.
That is why self discipline is such an important factor when fixing a bad credit, you could wait for months for a little increase in you score. And this is where some people get frustrated and eventually give up. You would not want that to happen to you because if you give up, it only means that you will have to start the process all over again. By: jpmendez Article Directory : http://www.articledashboard.com Jmendez runs the blog Fix My Credit which aims to educate people about credit, credit repair, identity theft, debt and other information that will make peoples lives easier. Visit the site to enrich your knowledge and start writing your own credit score.
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