The time required to improve a credit report depends on the complexity of the issues being addressed. Simple disputes, such as correcting a clerical error, may be resolved within 30 to 45 days, as credit bureaus must investigate disputes in a timely manner. However, more significant issues, such as charge-offs or collections, can take several months to over a year to improve. The key to success is maintaining responsible financial habits, disputing inaccuracies, and allowing time for positive payment history to strengthen the credit profile.

At Spaceway Solutions,  we help identify inaccuracies, dispute errors, and communicate with creditors or credit bureaus on a consumer’s behalf. These companies can also provide guidance on best practices for improving credit. However, under CROA, credit repair companies cannot charge upfront fees, promise specific outcomes, or remove accurate negative information. Consumers should seek companies that prioritize education and long-term financial health rather than shortcuts or quick fixes.

No. Spaceway Solutions cannot legally remove accurate and verifiable negative information from a credit report. Items such as late payments, charge-offs, and collections will remain on the report for up to seven years. However, if an item is incorrect or cannot be verified by the creditor, it may be removed through the dispute process. In some cases, consumers may request a goodwill deletion, in which a creditor voluntarily removes a negative mark as a courtesy.

Credit repair businesses must comply with several laws designed to protect consumers. The Fair Credit Reporting Act (FCRA) gives individuals the right to dispute inaccurate information. The Credit Repair Organizations Act (CROA)prohibits deceptive practices and requires written contracts outlining consumer rights. The Fair Debt Collection Practices Act (FDCPA) governs how debt collectors interact with consumers. These regulations help ensure that credit repair services operate ethically and transparently.

A good credit score generally falls between 670 and 739 on the FICO scale (300-850). Credit scores are determined using five factors:

Payment history (35%) – Making payments on time is the most significant factor.
Credit utilization (30%) – Keeping balances low relative to credit limits helps maintain a strong score.
Length of credit history (15%) – A longer credit history contributes to a higher score.
New credit inquiries (10%) – Multiple credit applications within a short period can lower a score.
Credit mix (10%) – A variety of account types (credit cards, loans, etc.) can be beneficial.
Maintaining responsible credit habits is the best way to achieve and sustain a good credit score.

The length of time a negative item remains on a credit report depends on the type of account or issue:

Late payments: 7 years
Collections: 7 years
Charge-offs: 7 years
Bankruptcies: Chapter 7 = 10 years, Chapter 13 = 7 years
Hard inquiries: 2 years
Although negative marks may remain for several years, their impact on credit scores decreases over time, especially if positive credit behavior continues.

For individuals with no credit history, several strategies can help establish and build credit:

Secured credit cards – These require a deposit and function like regular credit cards.
Authorized user accounts – Being added to a responsible person’s credit card can help establish a credit history.
Credit-builder loans – These loans help build a positive payment history while saving money.
Paying bills on time, keeping balances low, and allowing accounts to age naturally will contribute to long-term credit health.

No, checking your own credit score is considered a soft inquiry and has no impact on your credit. In fact, regularly reviewing your credit report is recommended to catch errors and track progress. However, hard inquiries, which occur when applying for credit (such as a loan or credit card), can lower a score slightly and remain on the report for two years. To avoid unnecessary hard inquiries, only apply for credit when necessary.

If a late payment was reported in error, consumers can dispute it with the credit bureaus under the FCRA. If the late payment is accurate, it will remain on the report for seven years. However, some creditors may agree to remove a late payment if a goodwill letter is sent explaining the situation. Otherwise, the best way to minimize its impact is to continue making on-time payments and maintain good credit habits moving forward.