How can I repair my credit rating? According to the Federal Trade Commission, the only way to repair bad credit is to be patient and wait. This is a frequently heard answer, but some organizations are coming around. Even Fair Isaac, the creators of the FICO scoring system, now suggests that consumers should make every effort to improve their credit scores.

Can I repair my credit rating if I have had late payments? Of the many factors which affect credit scores negatively, late payments reported by creditors is a major one. Many creditors will remove late payment reports if the customer asks in the right way. You can improve your credit score by having reports of late payments removed from your credit report.

Will the credit bureau repair my credit rating? The credit bureaus will do nothing to repair your credit rating unless you initiate a dispute. You can dispute items on your credit reports that are inaccurate, misleading, outdated or unverifiable. The credit bureaus have 30 days to investigate your dispute and either remove the negative item or contact you. When negative items are removed from your credit report, your credit score will improve.

Will establishing good credit repair my credit rating? Establishing a good credit history, while important, will not improve your credit score.

Is it legal to repair my credit rating? Some disreputable companies may suggest illegal strategies, not simply to improve your credit score, but to create a whole new credit identity, but there are legal methods.

Can I repair my credit on my own? You can attempt to repair your own credit, in fact, even if you retain a lawyer, you will be very much involved in the credit repair process. Without legal assistance, it may be frustrating and difficult to repair you credit rating. Many of the books and software programs that are available are already outdated, because the laws that protect consumers change so quickly.

Can credit repair companies repair my credit quickly? The Federal Trade Commission advises consumers to beware of companies which offer to improve credit scores in an unreasonably short period of time. It will probably take at least 45 days for the first issues to be resolved. That is a reasonable amount of time. If a company is claiming to achieve results in less than 45 days, consumers would be wise to find out exactly what they are doing and how much it costs, before they pay anything.

Can credit repair attorneys repair my credit faster and easier than I could on my own? While results vary and reputable law firms will not promise results in a specific amount of time (just like they would not promise how a court case will turn out), many credit repair lawyers have a successful history. Look for one that has been in business for a while, belongs to the Better Business Bureau and has had a number of satisfied clients.