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How Long Does It Take To Repair Your Credit? Part Three – Factors That Shorten Credit Repair Times

How Long Does It Take To Repair Your Credit? Part Three – Factors That Shorten Credit Repair Times

Our previous article called “Part One – Factors That Increase Credit Repair Times” explained all the factors that slow the speed of your credit repair. It covered all the factors that may harm your credit score, and the factors that slow the progression of your credit repair process without actually doing harm to your credit score. We also included all the factors that make you less creditworthy in the eyes of lenders. Part Two explained the most important change you need to make in order to start repairing your credit. This article goes the other way, this article concentrates on speeding up your credit repair.

Part One explained all the things you shouldn’t do. If you have mastered not doing those things, you can now start doing the things listed in this article. In this article, we go over the things that help your credit score, things that do not directly improve your credit score but speed up the repair process, and we have included the many things you can do to make yourself more creditworthy in lender’s eyes.

FICO, Credit Rating, And Credit Score

As with the other articles in this series, the words “FICO score,” “Credit Rating,” and “Credit Score” mean the same thing. They are interchangeable in these articles.

Credit Bureaus

The Credit Bureaus I am referring to in this article are the Northern American credit bureaus called TransUnion, Equifax and Experian. However, the term works for readers from other countries. For example, if you are from the United Kingdom and I mention credit bureaus, then simply assume I mean the UK credit reference agencies Callcredit, Equifax and Experian.

What Makes This Information So Special

Search around the Internet and you will find plenty of articles on credit repair and credit scores, but you never see articles that cover the issue from all angles. Being creditworthy in the eyes of lenders is just as important as inflating your credit score, and yet most online articles and videos only concentrate on your credit score.

A great example from the last article was how credit bureaus such as Equifax were saying that getting divorced didn’t hurt your credit rating. Yet, we showed that people who get divorced often have a very difficult time growing their credit rating, and that many of them experience a drop in their credit score “not” because of the divorce itself, but because of the things surrounding the divorce, such as lawyer bills, capital asset splitting, lenders agreements that supersede divorce rulings, and so forth.

This article covers both how long it takes to repair your credit by examining things that improve your credit rating and by examining things that make you more creditworthy. It is imperative that you have read the previous article on what you shouldn’t do, otherwise if you take action on what you read here, then it would be the same as putting Formula One fuel in a car that has four flat tires.

Factors That Decrease How Long It Takes To Repair Your Credit

These are the sorts of things you need to do if you are looking to improve your credit rating without cheating. Some of them are easier to do than others, and some of them take longer. The key is to understand why your credit rating is rising, and to know that the information you are being given is only useful up to a point.

All information of this nature is only useful up to a point. For example, telling an overweight person to jog every day is sound advice, but it is only useful up to the point where the overweight person keels over after jogging up a major highway. Such a person would need to understand weight gain and loss in order to put the advice to best use. Again, take the advice on board, but put it in context and consider everything else you have learned.

Factors That Shorten Credit Repair Times – Enroll To Vote

You become more credible if you enroll to vote. It is your way of saying that you are willingly taking part in society and that you consider yourself to be a citizen of this country. You are also making it clear where you live, and your credit report will show that you are enrolled to vote because it is public record.

Contrary to what you are told online, you can become creditworthy and build your credit even if you do not register to vote, but registering is easy, and it is such a boost to your creditworthiness (and ergo your credit rating) that it is silly not to register to vote.

Factors That Shorten Credit Repair Times – Pay Down Your Debt…Blah Blah Blah

For the sake of accuracy and for the sake of covering the topic comprehensively, I have to include this point about paying down your debt, but if you could pay off all your debt right now, then you wouldn’t be reading this.

Using credit correctly will improve your credit rating more quickly than being debt free. This means that being in debt is necessary if you wish to raise your credit rating. However, many people with a poor credit rating are in trouble because they have too much debt. These are the people who need to pay down their debt.

Still…if you are in crazy amounts of debt, then you probably already knew that paying down your debt was a good idea.

Factors That Shorten Credit Repair Times – Prioritize Fixing Over A Limit Before Fixing Past Due

It is important that you understand your own debt before you take this advice. In general, if you have an account that is over the limit (unplanned overdraft) and an account that is overdue (such as a utility bill), then it is best to take care of the overlimit before the overdue.

Typically, your bank is going to charge you an unplanned overdraft fee and is going to charge you interest on the amount you are overdrawn by. Plus, there is a strong chance that your bank is going to report your overlimit/overdrawl to one, two, or three of the credit bureaus.

Contrast this with what may happen if you miss a regular bill. There is a strong chance that the company you are paying will inform one or all of the credit bureaus, but there is a slim chance that they will not. Plus, if you are overdue on a bill, there may be some wiggle room. You may be able to call the company and ask for more time to pay, or maybe get out of late fees if you can tell them when you will have the money.

There are always exceptions. For example, there are some banks that do not report you to credit bureaus if you only overdraw by a small amount, and there are some companies (especially credit card companies) that will definitely report you to the credit bureaus without hesitation. Nevertheless, on average, it is often best to take care of your overlimts/overdrawls/unplanned-overdrafts before taking care of your bills. In both cases, it is always best to make contact with the company or bank right away to see if the problem can be resolved without it getting any worse.

Factors That Shorten Credit Repair Times – Stay In The Same Job

Do the credit bureaus keep track of which job you are in and how long? Not really. They do hold some information on your profession, and they may even hold detailed files if you have things such as a business account. However, your job shouldn’t have any effect on your credit score.

However, it has a massive effect on your creditworthiness. At the beginning of this article, it was mentioned that this information is so special because it looks at all the angles regarding both your credit score and your creditworthiness. Few online articles mention that lenders prefer you to stay in the same job for years, but it is true. People who skip from one job to another will often have a lower credit rating; not because of their job skipping, but because of the after effects such as numerous rejections for credit.

Lenders can tell by looking at your credit report if you have a job and if you have had a steady income for years. Yet, if they wish to, they are legally allowed to ask you about your job, your business, and your personal income. In fact, if you are applying for lending services, then it is almost guaranteed that they are going to ask you about your income and your job.

Lenders want to see that you have a stable income. They want to see that you have been in your job for years, and they prefer it if you have a higher income. As they old saying goes, lenders want to lend to people who don’t need it.

A High Income / Available Money

A high income is important, but they also take into account how much free money you have available each month. For example, you may only earn $750 per month, but if you live with your parents and have no expenses and no outstanding debts, then you have $750 of available money each month. On the other hand, take a person who earns $50,000 after taxes, but who has mortgages, alimony payments, child support payments and lots of outstanding debt. Such as person may only have $400 of available money each month. It is not all about a high income, but lenders do prefer a high income.

There are many lenders who will not lend to you if you do not earn over a certain threshold each month. During our credit card and loan reviews, our research team has noticed that some companies simply will not lend to people if they earn under a certain amount, irrespective of things such as credit scores and such.

A Stable Income / Having The Same Job For Years

Our research has shown quite a few times that if you have had a job for less than six months, then most companies are unwilling to lend to you. Quite a few younger/inexperienced people will get a job and then start applying for credit left-right-and-center and their credit score takes a dive because of all the credit inquiries and subsequent refusals.

Lenders want signs that you have a stable income, and the fact you have had a job for years is a sign of that. It is why small businesses have a hard time getting credit because they often need years of proof of their income before lenders will start risking money on them. Another reason why six months is the golden number is because that is usually the longest that a new job’s trial period lasts. The lenders often feel more reassured with the knowledge that you are not so easy to fire because you are a fully employed member and not on your trial period.

Factors That Shorten Credit Repair Times – Stay In The Same House

Moving house will not directly damage your credit rating, but it will damage your creditworthiness. Just like a stable income, lenders like to know that you have a stable lifestyle. They also like to know that you are going to stick around and that you are not going to do a runner off to another country. Lenders will often ask for your previous addresses for the last three years. They say it is to help them run their credit checks, which is true, but it also helps them figure out how stable your life is. If you have moved in the last three years, then there is a statistically higher chance that you are going to move again in the near-to-intermediate future.

Factors That Shorten Credit Repair Times – Avoid Co-Signing Or Co-Leasing Anything And Only Apply For What You Can Pay For

Just don’t do it. I wish I could write you a book filled with the cumulative knowledge of all the people who work for, including everybody from the research team to the guy who fixes the power to the severs. Life will teach you that co-signing and co-leasing things is always a bad idea. Even if you are the one with poor credit and it is the other person’s ass on the line, it so often works out for the worst that you can almost guarantee a lose-lose situation.

Judge Judy says it all the time. Would she lead you wrong? Watch a few episodes of her show, and you will come across a few co-signers and co-leaser episodes where you can see the disaster that co-leasing and co-signing creates.

judge-judy-saying dumb ideas come from dumb people.jpg

Factors That Shorten Credit Repair Times – Set Up Payment Reminders Even If You Are Using Auto-Pay

Pay your bills manually or pay them with Auto-Pay (direct debit), it is up to you, but you need something to remind you about your bills. Even if you are using Auto-Pay, you still need to make sure the money is in your account at the right time.

There are several ways to go about setting up payment reminders. Some people stick a list of their bills on their fridge where they see what dates the bills are due and what time they are due. This works to a point, but only if you check the document you placed on your fridge on a regular basis.

The trick is to find something that you use and update on a daily basis. Some people have reminders set up on their phone, and if your phone is always near you, then this may be a good idea. Other people set reminders up on their computer, or they keep a small journal near them where they remind themselves when their bills are due.

If you are using something such as an app or a computer program, then set a reminder to alert you three days before the bill is due, and then again the day before the bill is due. This gives you ample time to get the money in your account. People who set up reminders often have a better credit score because they rarely miss their bills.

Factors That Shorten Credit Repair Times – Check Your Online Accounts At Least Once Per Day

Check your online bank accounts, and even your savings and investment accounts. Check your credit card, loan, and lending services accounts regularly too. Not only does this help you catch errors and help you keep up to date with your current financial situation, it also gives you an odd feeling of calm. Make a habit of checking your accounts frequently, and you may not be able to guard against the unexpected, but you can catch unexpected problems before they make a serious dent in your credit rating. Keeping a keen hold on your online financial accounts is the sort of behavior you need to cultivate if you wish to grow your credit rating.

If you have a poor/bad/terrible credit rating, then you are probably used to that feeling of pressure and sorrow that comes with financial trouble and debt. Even if your credit card accounts show that they are maxed, and even if your bank account shows a small sum, you still get an odd feeling of calm. It probably comes from knowing that today is not one of those days where you get a nasty surprise.

Factors That Shorten Credit Repair Times – Have “Overdrawn” Alerts Sent To Your Phone

If your bank, credit union, or your online money company account offers this service, then sign up for it. Most will not charge you fees for this service, but even if they do, it may be worth the money.

There are banks, credit unions and money companies that send you email or SMS text alerts that tell you if you have overdrawn. We have all done it where we have overdrawn (un-arranged overdraft) by accident, and it is important to fix an overdrawl as quickly as possible. Having notifications sent to your phone or your email address will help you fix the problem more quickly. You may be able to fix the problem quick enough so that your bank, credit union, or online money company will not charge you overdraft fees or extra interest charges, they may also resist their urge to inform the credit bureaus of your little mistake.

Factors That Shorten Credit Repair Times – Start A Contingency Fund

Will a contingency fund help raise your credit score? No, it will not “directly” affect your credit score, but it will help you combat unexpected problems. A contingency fund doesn’t need to run into thousands. You can just put a few dollars away every month.

The aim is to have a little bit of money building up in one account. When something unexpected comes along that would normally result in you having to miss a bill, or that would normally result in you overdrawing, you can use your contingency money to fix the problem.

It means you have a little bit of spare money on hand for emergencies so that you do not have to sink further into debt whenever a problem comes along. Using your contingency money rather than getting into more debt will help you keep your credit score moving in the right direction.

Factors That Shorten Credit Repair Times – Create A Budget That You Stick To

image showing superhero saying thanks for the obvious statement

Yes, this is an obvious tip. People who create a budget and stick to it are likely to see their FICO score rise over time. The problem is that people who have terrible debt trouble and terrible credit score trouble will often have trouble creating a budget and sticking to it. Before working on your credit score, you should work on whatever it is that causes you to ignore your budget and overspend.

Factors That Shorten Credit Repair Times – Contact Your Creditors If You Think Things Are Going To Go Sideways

Will this tip help you ramp up your credit score and shorten the amount of time it takes to repair your credit rating? No, it will not. However, if you wish to keep things going in the right way, then you need to prepare for times when your finances start to go wonky.

If you think there is a chance that you will not make your next bill payment, then you need to contact the company behind the bill. If you think you will not be able to make your next credit card, loan, or overdraft payment, then you need to contact your creditor right away.

People who make contact prior to missing a bill/payment, are less likely to see their credit score fall. Companies and creditors are less eager to report you to the credit bureaus if they are aware of your situation, if you have informed them, and if you have set out a plan (with them) to rectify the coming situation.

If you are making progress with your credit score, then problems such as missing payments/bills shouldn’t have to trip you up. There is a good chance that the company that is billing you, or your creditor, will give you some space to breathe or some options so that the credit bureaus do not need to find out.

Factors That Shorten Credit Repair Times – Create A List Of What Money Comes Out Of Where And When

I like the idea of people keeping a list of their bills because it is easier to look at and is easier to comprehend than a budget. Without things getting too complex, you should seriously consider a list of bills, a list showing your income, and a list that shows what money is coming out of where.

Below is a quick example of what the list may look like. Your list need look no more complicated than this one does.

Expenses list with dates

Factors That Shorten Credit Repair Times – Stay With The Same Bank For A Long Time

Once again, creditors like people who stick with the same High Street banks for years because it shows a certain amount of stability in those people’s lives. Plus, people who mismanage money often have trouble keeping the same bank account, so the fact you have kept the same bank may show that you are handling your finances okay.

One of the biggest reasons why you should stick with the same bank (or banks) for a long time is because you build up a relationship with your bank. They apply their lending algorithms to your banking history and they make judgments with more confidence. You may have a terrible credit rating, but if you have a good banking history with your bank, and if you have been using your bank for years, then your bank may be willing to overlook your credit rating and lend to you.

The opposite is that you keep changing banks, and new banks are less likely to lend to you because they know very little about you besides what they read on your credit report. They know that your credit report only tells them half the story.

If you build a reasonably good banking history with your bank, then they may be more willing to lend to you with things such as overdrafts. A small overdraft may be just what you need to start rebuilding your credit, and if you borrow from the bank you have been using for years, then you will not have to opt for credit cards, overdrafts and accounts from expensive credit repair companies.

Factors That Shorten Credit Repair Times – Lower Your Utilization Fairly By Paying Down Debts

Your credit-repair plan should involve slowly paying down your debts in ways that you can afford. Slowly chipping away at your debt will improve your credit score because your credit utilization (and debt levels) go down. Lower your credit utilization fairly by paying down your debts slowly and not by making big payments or by applying for new credit cards.

As you spend months chipping away at your debt, your credit rating rises because you are lowering your debt and you are probably lowering your credit utilization percentage. In addition, the more you venture into the future, the further away you are from your last credit screw up. Past problems will stop affecting your credit score after as little as six months and a year, and most of your credit problems will fall off your credit history after six or seven years (ten or eleven for big screw ups such as going insolvent/bankrupt).

Factors That Shorten Credit Repair Times – How Much You Are Paying Off Each Time

This is not a Captain Obvious statement. You need to give some serious thought towards the amount you pay off each month. Other articles have probably told you to put all of your money into your debts as fast as you can, but this may not shorten your credit repair times.

You need to control your finances and you need to make budgets and plans. More importantly, you need a contingency fund that you dip into whenever you have a money problem.

If you are putting as much money into your debts as possible, then the first time you hit a bump in the road you are going to have to dip back into your debt, your overdrafts, or your credit cards. This may restart a negative snowball-debt situation where a little lending leads to more lending.

Play the long game. Slow and steady debt repayment is best. Ideally, you should never have to touch your credit cards again until you are completely out of debt. The last thing you want to do is put all of your money into your debt only to have to draw it all out again whenever you hit a problem.

Factors That Shorten Credit Repair Times – If You Are Paying Off Your Full Balance Each Time (If You Are Not In Financial/Debt Trouble)

If you are in financial trouble or in debt trouble that you are struggling to get out of, then paying off your debt slowly and carefully (as per the previous tip) is going to be best for your credit rating in the long run. If you have the money to pay off your credit card debts and clear your balances every month, then you should strongly consider it.

Let’s say that your credit score is in the toilet because you made a few mistakes and because you now have a large consolidation loan. If you have a credit card, and if you can afford it, you should pay off the balance each month (or every other month if you can). Paying off your balance every now and again will help repair your credit score, and as you pay off your loans too, you will see your credit repair accelerate over time.

Factors That Shorten Credit Repair Times – How Many Lines Of Credit You Currently Have Open

If your FICO score is low and it remains low despite your best efforts, then you may like to try closing a credit account or two. The number of lines of credit you have open may not be as big of a problem as you are being led to believe by other online article, but there may be an isolated pocket of credit lines that are slowing the growth of your credit rating.

Be careful how you go about closing your lines of credit. For example, if you cancel a credit card while you are in debt with numerous other credit cards, then your credit utilization will go down and so will your credit score. On the other hand, if you have numerous lines of credit open, it sometimes gives your credit score a boost if you close one or two.

Anecdotal Evidence From Our Team

Lines of credit that are hotbeds for identity theft and fraud are often indirectly damaging to your credit rating (in our experience). For example, if you have lines of credit with European gambling websites, Forex websites, bitcoin websites, or console gaming websites, then consider closing them. You don’t have to close the accounts themselves, just the credit portion of your accounts.

We have found that some lines of credit seem to slow the repair of your credit score. Store cards seem to have a hit-and-miss track record in this department. For example, one furniture store may offer a line of credit that acts like an anchor on your credit score, and yet its main competitor may offer a similar deal and your credit rating rises just as quickly as it would if you didn’t have the account. We cannot explain the phenomenon quite yet, but we have noticed that the cards that do their best to force you into paying interest are often credit repair anchors. For example, if a company makes it difficult for you to overpay during their interest-free period, then this may be the type of credit line that you should close in order to shorten your credit repair time.

Factors That Shorten Credit Repair Times – Stop Contesting Errors And Close Any Current Disputes On Your Credit Report

We mentioned this point in part one of this credit repair series, but it needs mentioning again. It may help your credit score if you contest an error on your credit report. It may help if you open a dispute and have the error corrected. However, quite often, the dispute process often acts like an anchor for your credit repair that slows your credit repair process.

Plus, even if you have the error stricken from your credit report, your credit score may jump up a little, but there is an after effect where your credit rating grows more slowly. You may win the battle, but you do not win the war.

Unless the error is a large or very damaging one, it is best to leave it alone. It will drop off your credit report in its own time anyway. When you open a dispute, you are keeping it in the “Now” rather than letting it get old and letting its effect on your credit score dissolve naturally.

dont sweat the small stuff image from American Dad

Factors That Shorten Credit Repair Times – Do Not Contact The Credit Bureaus About Very Old Closed Accounts

It is annoying if you have paid off a debt and it still appears on your credit report as active. In fact, we have reviewed quite a few lending companies that have a bad reputation for having customers clear their debts and not bothering to tell the credit bureaus. It doesn’t happen all the time, but there may be times when you pay off a debt and it still appears as active (and still appears to have a balance) on your credit report.

Some online articles and videos are telling people to contact the credit bureaus if there are old debts still appearing active on their credit report. However, this is not the best advice. What you need to do is to contact the company with which you had the debt. Contact them, tell them that you paid off your debt, tell them when and by how much, and ask for confirmation that you have paid and cleared your account. At the same time, ask them to confirm with the credit bureaus that you have paid off the debt.

If you are having trouble getting the company to play ball, then explain how you have paid off your debt and yet it still appears as active on your credit report. Ask them for confirmation that the debt has been paid. Ask them to notify the credit bureaus that you have paid the debt.

Patience Is Key In This Scenario

Give the company a little time to notify the credit bureau. If they notify the credit bureaus that you have cleared your debt, then that is the safest and most credit-score friendly way of fixing this problem.

If the company doesn’t inform the credit bureau that you paid off your debt, it may be time to contact the credit bureaus. However, before you do, you need to have confirmation/proof that you have cleared your balance (paid off the entire debt).

If you are making contact with the credit bureau, then you need proof of your payment right away, and you need to submit that information to them right away to get the problem fixed as quickly as possible. You do not want an open dispute lingering on your account for months because it will slow the credit repair process. It is best for your credit repair process if you keep your interaction with the credit bureaus as short and efficient as possible.

Factors That Shorten Credit Repair Times – Pay Off Newer Accounts (But Not For The Reason You Think)

If you are in a large amount of debt, then paying it off (all at once or bit-by-bit) will help improve your credit rating. This is true if you pay off debts you have had for 20 years or debts you have had for 20 hours.

The reason why it is better to pay off your newer debts rather than your older debts is not because your creditors have forgotten about your old debts, it is because there is more uncertainty surrounding your newer debts than there are surrounding your older debts.

Creditors can use your credit report to determine if you have had trouble paying your older debts. The longer you have had the debt, the more comfortable a creditor feels about how well you handle the debt. If you have a newer debt, then creditors do not know if your debt is stretching you beyond your means. They do not have any historic evidence that you can handle the new debt. As a result, they like your older debts and dislike your newer debts. That is why it is better for your credit rating if you pay off your newer debts first.

Factors That Shorten Credit Repair Times – Pay Off And Close Your Credit Cards While Being Aware Of The Credit Utilization Drop

Paying off and closing your credit card accounts is good for your credit score if you have more than one credit card. However, your credit rating may drop a little when you first close your credit card account. This is only a temporary blip in your credit repair process.

The most common mistake people make is to apply for a credit card and cancel their old credit card before getting the new credit card. People go online and use the soft search (pre-application qualification) tool to check to see if they are eligible for a new credit card. The website shows that the user is able to get a new credit card, so the user cancels his or her old credit card and applies for the new one. The user is then rejected by the new company because his or her credit score dropped when the old credit card was closed. In this circumstance, it is better to apply for the new credit card and have the new credit card in your hands, before you cancel your old credit card.

Factors That Shorten Credit Repair Times – Close Credit Cards And Lump Your Debt Into One Place (It Seems To Work)

If you are in debt trouble or financial trouble, then you may like to lump your debt into one place and tackle it from there. On the other hand, if you have a poor credit rating, but you are not in financial trouble, and if your debt is not too much for you to handle, then you may do better with less centralized debt.

If you have financial trouble or if your debt has spiraled out of control, then try to lump your debt together in one place. If you are not in financial trouble, don’t worry too much about lumping your debt together in one place.

Factors That Shorten Credit Repair Times – Forget About Account Age Factors Unless You Have A Low Credit History

If you read the section a little earlier about paying off newer debts before your older debts, then you will know that credit companies are more worried about your newer debt than your older debt.

Some online article say that you should keep your older credit lines. They give advice about account ages and how you should keep accounts open for the sake of letting them grow older. All of this doesn’t matter as much as other articles are making out. They are looking at the results instead of examining the reasons.

As was mentioned in an earlier section, older debts and credit accounts are more stable than newer debts and credit lines because the creditors do not know how you will handle your new debt. To put it another way, if you have had a credit card for 10 years and you have always kept it maxed out, and then you get a new credit card and you pay off its balance every month, then the new credit card is going to help your credit rating more than the older one.

Credit scoring agencies (credit bureaus) track your account ages, and creditors track your account ages too, but that doesn’t mean you should keep old accounts open or old debts for the sake of improving your credit score. Plus, if you rarely use your old debt/credit accounts, creditors may suspect that you are keeping them open for the sake of boosting your credit score.

Factors That Shorten Credit Repair Times – Do Research About ‘Income Contingent’ Student Loans Before You Take Them

As a final note, do your research about income-contingent student loans prior to taking them out. They shouldn’t have an effect on your FICO score, but that doesn’t appear to be universally true.

It is an odd situation because some creditors like people who have qualifications, so you would think they would like lending to people with student loans. Yet, not everybody who has student debt will have a qualification, plus there appears to be some argument about how creditworthy a student with student loans is.

Remember when the Obama administration started messing around with student federal loan policies? A lot of people with student loans suddenly became less creditorworthy. Their credit score didn’t go down, but they were finding it a little harder to get credit.

I think the record-breaking amount of US debt that Obama accumulated is appalling, but I do like how he made it difficult for students who try to skip out on their federal loans by going bankrupt. An old trick was to refinance your federal loans with private loans and then go bankrupt, but this is now very difficult thanks to Obama.

We know from all three credit bureaus that income-contingent student loans do not affect credit scores, but our research suggests that it does affect how easily people with student loans are able to get credit. We cannot say with certainty that income-contingent student loans affect your creditworthiness, and we cannot even guarantee that they don’t slow the progress of your credit repair. That is why we suggest that you do your research in advance before you take out income-contingent student loans. Also, if a lender/creditor asks you about your student loans on the application, then there is a strong chance that it is going to affect your creditworthiness.

Conclusion – On To Part Four

You have just read, “How Long Does It Take to Repair Your Credit? Part Three.” If you missed Part One or Part Two, then go back and read them. Or, you can move on to Part Four. So far, you have learned what factors are slowing your credit repair in part one, you have learned a fundamental credit repair rule in part two, and you have just read all the things you can do and keep doing in order to repair your credit rating and become more creditworthy.

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Part One – Factors That Increase Credit Repair Times
Part Two – Your Acceptance Of Responsibility For Your Spending And Your Income
Part Three – (You Just Read It)
Part Four – Risky Things You Can Do To Speed Up Your Credit Repair

About The Author

Ash The Great

After a varied career in different industries from the hospitality industry to the financial consultancy industry, Ash now spends his days working as a professional writer.

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