Is Time The Best Of The 5 Methods To Fix Your Credit?
One of the methods you can Fix Your Credit, at least in theory, is to simply wait.
The idea of not doing anything and just hoping that your credit will repair itself, by simply sitting on your back side, just irritates me.
I’m sure that it’s not resting well with you either; otherwise you wouldn’t be reading this at this moment.
Just so you know though, 79% of the credit reports in America have errors on them. That’s not me saying it, that’s coming directly from the U.S. Public Interest Research Group.
That means that even if you’ve never done anything wrong, such as having been late on a mortgage payement, you probably still have negative accounts on your credit reports that’s hurting your credit score.
Quite frankly, that stinks, but that’s the way it is.
Now, if you do choose this method of fixing your credit:
1. You should know that some items may take seven years to fall off your credit reports; and bankruptcies, for example, can take 10 years.
2. You should also know that some won’t ever fall off your credit reports.
3. You are picking it, by default, if you aren’t actively deciding on one of the other methods.
That’s a long time to wait, don’t ya think?
Although I don’t like to admit it, I’ve tried this approach to improving credit a couple of times in my own credit history.
The first time, it was just because I had no idea I could do something to restore my bad credit situation.
And that’s the main reason for many others, as well.
We either don’t know we can be proactive about fixing our poor credit or we’ve been mislead to believe that time is the only method available to us in the first place.
The 2nd go-round for me was a situation where my life was not the best professionally and financially. Since I saw my credit issue as just a section of my financial woes, I decided not to bother doing to improve my credit score.
I look back now and see just how dumb that was.
If I had cleaned up my poor credit the 2nd time, I would have been able to help myself out of my financial challenges quicker, simply because I would have had the power of good credit to do so.
So, what are the pros of this method to Fix Your Credit?
1. Same cost or less than the other credit restoration methods, since some are also free and some are not.
2. Least amount of work, i.e. none.
3. Not required to write your own dispute letters.
4. No chance of accidentally following any outdated advice since you’re not following any advice.
5. Not necessary to read and understand an entire 100-300 page ebook on credit repair.
If those are the pros, what are the cons to this method of improving your credit score?
1. Even though it doesn’t cost anything, it’s easily the most expensive because your interest rates will be higher, which means more money out of your pocket.
2. Your poor credit issue rarely gets better on its own.
3. If your poor credit accounts do eventually fall off your reports, this method clearly takes the longest for it to happen.
4. By doing nothing, you’re essentially giving up all of your legal rights.
5. If and when you do need additional credit, you may not be able to get any at all.
Would you like to learn more about this method, as well as the 4 other methods, of credit repair? I’ve just completed my new report to the various methods of credit repair.
Download it free: Fix Your Credit
Tags: 
