How Long Does It Take to Rebuild Credit?

If you've had a financial setback, it usually takes one to two years to restore your credit, according to Weaver. But that depends on your individual situation. For example, FICO research shows that it takes five to ten years to recover from bankruptcy, depending on your credit rating. There is no single answer to how long it takes to rebuild credit; the time varies from person to person.

A person with several overdue payments in the past two years might expect their score to take a while to improve. However, a person with some late payments six years ago could see a faster improvement, as long as their payment history since then has been excellent. Unfortunately, there's no quick way to repair or fix your credit. How long it takes to rebuild your credit history depends on the severity of your credit problems and how your credit history was affected.

It could take just a few months, or it could require several years of commitment. In either case, there are steps you can start taking right away to help you get your credit back. In general, credit repair takes three to six months to resolve all of the disputes that the average consumer must file. Of course, if you just have to fix a few mistakes or repair your credit every year, it might not take that long; it might be over in just over a month.

On the other hand, if you've never corrected your credit and you have a lot of things to challenge, it may take longer. Seven to 10 years may seem like a long time. But the good news is that most negative information won't affect your score forever; the effects of negative information may even lessen over time. Whether you're starting to rebuild your credit or are already working hard to improve it, monitoring your credit is key. The average consumer typically completes the credit repair process in about 3 to 6 months, but it may be less if their reports only contain a few errors to correct.

And rebuilding credit is important, as healthier credit reports and scores make it more attractive to lenders. For example, the lower your credit score, the longer it will take to restore it and convert it to a good credit rating.