What's up you guys it's Joe here, your credit repair expert! So in the past, we have shared some articles about all of the techniques and tricks that you could use to get past that legendary 800 credit score. Even though the strategies work really really well I felt like it would be a good idea to make a follow-up content. This is for anyone without a good credit score who wants to know how to turn that around and fix it as soon as possible.
So, how can I repair my credit quickly?
Are you currently struggling with bad credit?
Few years back, I saw people who’s credit was a train wreck. And this is because of some financial mistakes in their twenties. We're talking a score in the 400s - they couldn't even rent an apartment or even get approved for a car! One night, while chatting with co-workers, we realized over half our clients couldn't buy due to bad credit. The next day, I took action, bought a credit repair franchise. Though it came with a catch—the company was in financial collapse. Faced with a choice, go back to selling cars or embrace destiny. ASAP Credit Repair was born.
Yet, that was just the start. After four years of trial and error, ASAP achieved a consistent 73% success rate. We've resolved credit concerns, deleted items, improved scores, and kept clients focused on their goals. We managed to ace 700’s and 800’s for our clients in no time.
So when people ask me how to repair their credit fast, I have the real-world experience to back my advice. Stick with me as I break down the steps that took me from credit pariah to having lenders beg for my business.
- How Can I Repair My Credit Quickly: Is it even possible?
- How I Damaged My Credit Score
- The First Step I Took to Repair My Credit Quickly
- Strategies I Used to Pay Down Debt Fast
- How I Negotiated With Creditors to Improve My Score
Let me share how I turned mine around in no time!
How Can I Repair My Credit Quickly: Is it even possible?
Absolutely! Repairing your credit quickly is entirely possible with the right strategies and actions. My personal experience has shown that by focusing on a few key steps, such as addressing errors on your credit report, negotiating with creditors, and establishing responsible financial habits, you can make significant improvements in a short time. It requires dedication and consistency, but the impact on your credit score is well worth the effort.
How I Damaged My Credit Score
Like many people, bad decisions and unfortunate circumstances led to me damaging my credit score. Here's how it happened:
A couple of years way back - I lost my job and was out of work for almost a year. Without a steady income, I fell behind on payments for my credit cards, car loan, and other bills. Eventually, my accounts went into default, and the companies reported the missed payments to the credit bureaus. My score took a major hit.
On top of that, I had racked up high balances on my credit cards over the years and was only making minimum payments. My credit utilization ratio - the percentage of my available credit I was using - was over 70% on some cards. This hurt my score a lot too.
I also made the mistake of closing some old credit card accounts I no longer used. Since the length of your credit history factors into your score, closing those accounts shortened my credit history and dropped my score.
During this time, I avoided checking my credit report and score altogether. I didn't want to face the damage, so I stuck my head in the sand. But that only made the problem worse, as errors and signs of fraud went unnoticed.
Looking back, I made several poor choices and missteps that trashed my credit score. But the good news is, I was able to turn things around by educating myself, making a plan, and taking action. If I can repair my credit, you can too. The rest of this article will show you the steps I took to boost my score over 100 points in under a year.
The First Step I Took to Repair My Credit Quickly
The first thing I did to start repairing my bad credit was to have a breaking free from debt mindset! I then obtained copies of my credit reports from the three major credit bureaus: Equifax, Experian, and TransUnion. These reports allowed me to see exactly what was hurting my credit score.
Once I reviewed my reports, I identified any errors or incorrect information. Unfortunately, errors on credit reports are quite common. I filed disputes with the appropriate credit bureaus to have these errors corrected and removed. This helped boost my score quickly since the errors were no longer being counted against me.
In addition to errors, I looked for any accounts that were delinquent or in collections. I negotiated with the creditors to see if they would agree to remove these from my credit reports if I paid the balance in full. Some agreed, which helped my score improve. For those that would not remove the information, I at least made payments to bring the accounts current. This showed that I was now responsible and making payments on time.
As I worked to remove incorrect information and delinquent accounts from my reports, I also focused on using credit responsibly going forward. I paid all my bills on time - never missing a single payment. I also reduced my credit card balances, keeping them at 30% or less of the limit whenever possible. Both of these actions helped to steadily increase my score over the following months.
Through diligent credit report monitoring, correcting errors, negotiating with creditors, reducing debt, and using credit responsibly, I was able to significantly improve my credit score. While it took time and patience, following these steps allowed me to turn my bad credit around and qualify for better interest rates and terms. The key is to start right away and stick with it. If I can do it, you can too!
Strategies I Used to Pay Down Debt Fast
My credit score had tanked due to high balances on multiple credit cards and a few missed payments. I knew I needed to make some serious changes to repair my credit and pay off what I owed.
Steps to Eliminate Thousands of Dollars in Debt:
I made a budget and cut out non-essentials. The first thing I did was write down my income and expenses to see where my money was going each month. I found lots of expenses I could reduce or eliminate, like dining out, entertainment, and hobbies. I trimmed over $500 from my budget by making meals at home and finding free hobbies.
I paid off high-interest debts first. I listed all my debts by interest rate and made minimum payments on everything except the highest rate card. I put as much money as I could towards that card each month until it was paid off. Then I rolled that payment into the next highest rate card. This approach, called the debt snowball method, gave me quick wins to stay motivated.
I took on a side gig to pay off debt faster. Even after cutting my budget, I still wanted to pay off my debt more quickly. I started driving for a ridesharing service in the evenings and on weekends. The extra money from my side gig went straight to my credit cards. Between my full-time job and side gig, I was able to put $1,000 to $1,500 a month towards my debt.
I checked my credit report and scores regularly. As I paid down my balances, my credit utilization ratio improved and my scores started going up. I checked my credit report and scores every few months to make sure there were no errors. Watching my scores increase over time kept me motivated to stick to my debt payoff plan.
By following these steps consistently each month, I was able to pay off over $15,000 in high-interest credit card debt in just a year and a half. My credit scores have recovered and I now use credit responsibly to avoid getting into debt again. The strategies I used to fix my credit and pay off debt can work for anyone willing to make a change. If I can do it, you can too!
How I Negotiated With Creditors to Improve My Score
My credit score was in the low 500s just a couple of years ago. I knew I needed to take action to improve it fast if I wanted to qualify for a mortgage. One of the first steps I took was negotiating with creditors to settle old debts and remove negative items from my credit reports.
Here's how I did it:
I pulled copies of my credit reports to see exactly what was bringing my score down. I made a list of old debts, charge-offs, and collections accounts I wanted to address.
Then, I called each creditor and collection agency to discuss a settlement. Many were willing to settle for less than the full amount owed, especially if I could pay a lump sum upfront.
I started with the smallest debts first to build up momentum. As I paid them off, my score started creeping up. For some larger debts, I asked if they would agree to remove the account from my credit reports in exchange for payment. Some creditors will do this as an incentive, and it can have a big impact on your score.
I got three major derogatory accounts deleted this way. Negotiating with creditors took time and patience, but it paid off. Within 6-8 months, my credit score increased over 100 points by reducing debt and cleaning up my credit reports.
If your score needs a quick boost, negotiating debt settlements and deletions is one of the most effective ways to do it. You have nothing to lose by trying, and potentially hundreds of points to gain.
My Journey to a Very Good Credit Score
My credit isn't perfect, but through hard work and determination, I've brought it up to a very good score. Now I'm in a position to qualify for major loans and continue improving my financial life. If I can do it, you can too! Stay positive and keep at it. Your good credit is within reach.
Top Tips for Repairing Your Credit Score Quickly
If you're struggling with bad credit, I've been there. A few years ago, I had a string of unpaid medical bills and credit card debt that tanked my score. But by making credit repair a priority, I was able to turn things around. Here are the steps I took to boost my score over 100 points in less than a year:
Pay Down High-Interest Debt First
I started by tackling high-interest credit cards and personal loans. Making extra payments, even if they were small, helped lower my balances faster and saved money on interest charges. As my balances dropped, my score started to rebound.
Negotiate With Creditors
For unpaid or charged-off accounts, I called creditors and negotiated pay-for-delete agreements. This meant if I paid a portion of the balance, they would remove the negative item from my credit reports. Not all creditors will do this, but it's worth asking. Getting these black marks removed gave my score an immediate boost.
Check Credit Reports Regularly
I made checking my credit reports and scores a habit. I used free annual reports from Annual Credit Report.com and credit monitoring services to look for errors or signs of fraud. Disputing incorrect information with the credit bureaus helped ensure my reports were squeaky clean.
Become an Authorized User
I asked family members with good credit to add me as an authorized user on one of their credit cards. Their responsible credit use was then reflected on my reports, which helped increase my score over the long run. Of course, I didn't actually use the card - I was just piggybacking on their good credit!
Limit New Applications
Finally, I stopped applying for new credit unless absolutely necessary. Each new application can lower your score a few points, so I gave my score time to rebound before financing another big purchase.
Repairing bad credit takes time and discipline, but following these steps helped me strengthen my score and re-establish my credit health. Stay determined, start small, and don't get discouraged. With consistent effort, you can rebuild your credit and achieve your financial goals.
So there you have it, folks - a few key steps I took to turn my credit around fast. It wasn't easy and did require some lifestyle changes, but thanks to staying focused and sticking to my credit improvement plan, I was able to boost my score over 100 points in less than a year. If I can do it, so can you. Remember to be patient, diligent, and focus on those core areas. Small steps will eventually lead to big results. If you need expert guidance in starting your credit repair journey, my team at ASAP Credit Repair can help!
Now go tackle that credit score and take back control of your financial life. Wishing you all the best in your credit journey. Stay positive and keep pushing forward one day at a time.