30 Days – Why can’t I fix my credit inside of 30 days?

Posted by Erica Steeves on October 29, 2018

30 Days –  Why can’t I fix my credit inside of 30 days?

Your Credit Minute Show Notes:

  • 00:00                                   … Credit Repair, credit question of the day, “Why can’t I fix my credit inside of 30 days?” Well guys, let’s break it down. You know, I’m going to give you a kind of a generic response, then I’m going to jump into the details.
  • 00:12                                   The generic response is, let’s say you have 10 collections. Let’s say you’ve been um, burdened in debt. Let’s say you have derogatories from the last seven years. This took years and years and years for this bad credit situation to evolve. Um, and for us to get this stuff fixed, for us to budget the money, for us to deal with the finances, and everything, it’s not going to be an overnight thing. Could a small credit issue be fixed within a couple of days by making a phone call? Yeah, of course. Those are the one-off scenarios, but that’s not our typical file, okay?
  • 00:42                                   Also, keep in mind the basic investigation um, cycle is typically going to take about 45 days. This is for you to just challenge something, and I’ll just quickly diagram it for you behind me, okay? So, let’s say we went ahead, and we sent a dispute letter to TransUnion Credit, okay, and we challenged one of the derogatory marks on the credit report. TransUnion’s going to open up that investigation, and they will then, in turn, send that dispute over to the creditor, okay?
  • 01:13                                   We got a 30-day window between when the creditor has to respond back to TransUnion, that investigation cycle, okay? So, we got 30 days, right here. We got 30 days, guys, just in here, okay? So, keep that in mind. And then once that investigation cycle is over, they’re going to go ahead. Um, either, they’re going to delete the mark, they’re going to mark the item as um, fixed. They’re going to confirm the mark. Let’s say it hasn’t been removed, if that’s the case, okay? Then they’re going to prepare and send you a confirmation, again, actually mail it to you. They’re going to send it right to your mailbox, okay?
  • 01:47                                   This is you. Happy as can be, okay, jumping for joy. Just because maybe you just got something deleted, okay? And they’re going to send it to your inbox, or your mailbox, showing you that the item’s been removed. This entire cycle typically takes, from beginning to end, about 45 days. That includes mailing. So, um, you want to allot that, that, that amount of time, just for one cycle of disputes.
  • 02:16                                   And now let’s say you challenge 10 items, okay? Four of them are removed, fantastic, right? That’s a huge net positive, but six are still there that you’re still questioning, and you want to go ahead and submit rebuttals. You have the ability to do so. You want to do a followup. That could take another 45 days.
  • 02:32                                   What I tell clients is this is a longterm process. You’re going to get your quick wins in the credit repair, which is usually the quick, easier items that are going to come off the credit report, the obvious things. You’re going to get your quick wins from the, uh, uh, tips that we give you, whether it’s how to deal with your credit utilization, opening up accounts, closing out accounts, whatever we’re going to advise you on.
  • 02:55                                   But then you’re going to have those longer term ones that are gonna come over 90 days, six months, nine months, a year, and then even items or changes that are gonna happen beyond a year, which are typically not things that we’re working on, things that we’re advising you on.
  • 03:10                                   So again, think sprint, or … think marathon, not sprint when you’re dealing with credit repair. Thanks guys. Nick Tsoukalis, Key Credit Repair. Have a great day.
Why can’t I fix my credit inside of 30 days?
Why can’t I fix my credit inside of 30 days?