How to Delete Bad Credit Off Your Credit Report
Consumers use credit for small purchases, such as dinner or a movie rental, and for much larger purchases, like a new car or a home. When you use credit, the lender reports that account to the credit bureaus, including both positive and negative account data. Under the Fair Credit Reporting Act (FCRA), only accurate data may appear on a credit report, and negative account information can only remain on the report for up to seven years. If you have derogatory information on your report that is erroneous or outdated, you have the right to file a dispute with the bureau and have it removed.
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Instructions
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Order a copy of your credit report. The Fair and Accurate Credit Transactions Act (FACTA) gives you the right to receive one free copy each year from the three bureaus: Experian, Equifax and TransUnion. You can order the free report at annualcreditreport.com.
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Check your report for errors. Read over the "Negative Accounts," "Collections," and "Public Records" sections to ascertain if any derogatory information appears.
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File a dispute online at the relevant bureau's website, if you find derogatory information that should be deleted. The online form allows you to specify the items you're disputing and why.
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Print the online dispute form and your credit report. FACTA gives you one free report, but if you access it online yet fail to print it, the bureau may charge you a fee to view it again at a later date.
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Wait to receive a response. Under the FCRA, bureaus have up to 30 days to investigate your dispute and make corrections. Results for online disputes are sent via email. The bureau will also include an updated copy of your credit report that shows the deletions that were made.
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Tips & Warnings
You can also file a dispute by phone or mail using the toll-free number and mailing address found on your credit report. If mailing a dispute, your dispute letter should specify the items disputed, the reasons for the dispute, and include any supporting documentation. Send the letter via certified mail so that you have a record of the exact date the bureau received your dispute. Results for disputes submitted by mail or phone are sent by regular mail.
Although negative accounts remain for up to seven years, there are exceptions. Chapter 7, 11 and non-discharged or dismissed Chapter 12 and 13 bankruptcies can remain for up to 10 years. Unpaid tax liens can remain for up to 10 years in California and indefinitely in all other states.
Never order your credit report using a public computer. It could lead to identity theft. Only use computers that you trust.
