How Long Does Credit Repair Take

Credit can Rise as Fast as it Drops

The average time to repair credit history and raise the credit score is approximately four months. The time frame of course depends on the amount of negative credit history, the credit score and the amount of good new positive credit being established. Credit repair doesn’t need to take a long time and it is a mixture of both disputing all the derogatory credit items and establishing new good positive credit and payment history.

Regarding old negative past credit issues these would be anything derogatory on your credit. Derogatory credit items are late payments, old multiple inquiries, collections, judgments, and charge-offs. All of these items can be disputed through the credit bureaus in an attempt to remove them from your credit.

Regarding good credit you must have at least 3 to 4 good positive trade lines on your credit that are reporting a timely payment each month. In addition to having good payment history the credit reporting agencies also review the amount of available credit. The key part of raising your credit score 100 points will be attempting to get all of your available credit up to 50 to 60% even 65% if possible. This means that if you have a credit card with a limit of $1000 you really only want to use $350-$400 of it. If your balance is more than 35 to 40% that can also bring down your credit score and hurt your credit.

Four to Six Months

When disputing all negative derogatory credit items, a company like New Day Credit Repair will send in dispute packages to each credit bureau for each derogatory item. The credit bureau then allows the account holder or lender 30 days to respond to the dispute. It then takes 30 days to update the credit report with the findings and result of the dispute either deleted or verified.

It is also important not to dispute more than 3 to 5 accounts per 30 day time. Or they will be considered frivolous disputes. With New Day Credit Repair, we have disputing derogatory items down to a science. Over the course of 3 to 4 months we will submit 3 to 4 batches of disputes packages each 30 days. This allows the credit bureau time to verify each dispute.

If you’re looking to raise your credit score quickly and efficiently, you MUST contact New Day Credit Repair today at (866) 368-8828

Bad Credit Recovery

Recovering from Bad Credit

Recovering or rebuilding a negative credit profile into a good one can take time and patience and determination. But it is possible and can happen faster than you think. Just as fast as credit goes down, it can come back up, then go back down. Credit scores are always changing and always moving. Your FICO score is  a moving target therefore there are things that you can do every day and each month that will help raise your credit score.

How Risk is Calculated

The credit scoring models are algorithms to calculate risk. These algorithms are used by Experian, Equifax and Trans Union the three largest credit bureaus also known as credit agencies.
Risk is calculated and your credit score made up of five parts. 35% of your credit score is payment history, 30% of your credit score is amounts owed, 15% of your credit score is length of credit history, 10% is based on new credit and 10% is based on types of credit used.
Payment history is key in rebuilding and reestablishing credit. Positive payment history timely payment history with no late payments is paramount when trying to establish new credit or recover from a bad credit score.

The Road to Recovery

Amounts owed is also very important. If you have several credit lines open with positive payment history and timely payments but each account or credit card is maxed out or used at 70, 80 or 90% of the available credit, that will drive your score down. For the best rebuilding of your credit you want to keep all of your credit amounts owed at 35 to 40% of the available credit.
Length of credit history is also important in recovering and rebuilding your credit score. This is the time part.  The credit algorithm wants to see a long period of time of positive payment history and good credit standing. The longer your positive payment history and good credit established the better your score will be.
Using a company like New Day Credit Repair can help you recover or reestablish your credit quickly. Through document preparation and credit education as well as an analyzing of your open credit trade lines New Day Credit Repair will help you come up with a strategy and a game plan to effectively raise your credit score and allow you to be approved when you previously may have been denied for loans, mortgages or credit.
Call us Now to move closer to your dream of owning that new home, car, furniture or anything else you have planned for your money : (866) 368-8828

How to Improve Credit Score by 100 Points

Many Ways to Improve your Credit Score

There are many ways to raise your credit score. But there are a few tricks to raise your credit score a large amount like 100 points. It’s a combination of both working on negative past credit issues and also establishing new good credit.
Regarding old negative past credit issues these would be anything derogatory on your credit. Derogatory credit items are late payments, old multiple inquiries, collections, judgments, and charge-offs. All of these items can be disputed through the credit bureaus in an attempt to remove them from your credit.
Regarding good credit you must have at least 3 to 4 good positive trade lines on your credit that are reporting a timely payment each month. In addition to having good payment history the credit reporting agencies also review the amount of available credit. The key part of raising your credit score 100 points will be attempting to get all of your available credit up to 50 to 60% even 65% if possible. This means that if you have a credit card with a limit of $1000 you really only want to use $350-$400 of it. If your balance is more than 35 to 40% that can also bring down your credit score and hurt your credit.

Getting the Credit Help You Need to

Using a company like a New Day Credit Repair can be very advantageous in raising your credit score 100 points by establishing new credit and disputing and removing negative credit issues on your credit report.
New Day Credit Repair has advanced software that will analyze your credit report. It will mark anything that is negative, derogatory or out of place. 80% of credit reports have many types of errors and mistakes, and New Day Credit Repair will find those mistakes and remove them.

Analyzing How to go About Improving Your Credit Score

Once we have analyzed the negative credit items we have a library of over 100 legally written dispute letters that we will handpick for each account, creating a dispute package and sending it to the credit bureau on your behalf to see that negative item deleted off of your credit.
In addition we will analyze your good credit account trade lines and determine what can be done to raise the score. This may include opening new small credit card trade lines with small minimum payments to establish new credit payment history as well as analyzing each open account to see if paying down a certain percentage on a credit card will raise the credit score. Sometimes paying down a credit card just $50 can raise the score 25 points.
Many consumers just simply do not have the time to mail a separate dispute package for each derogatory item on their credit for each credit bureau. If you have 12 derogatory items on your credit and there are three credit bureaus, Equifax, Trans Union, and Experian – then each credit agency will need a separate dispute package. So in this example there would be 36 dispute packages that would need to be printed out, signed and mailed to the credit agencies.
In addition to that, many people do not know what makes up a credit score and how to raise their credit score on their own. Using a company like New Day Credit Repair for document preparation and credit education will greatly improve your chances of raising your credit score and getting approved for a mortgage, car loan, credit cards, or any other credit-based account.
Call us today at (866) 368-8828 to get started.