How to Erase Debts From a Credit Report
A credit report contains your personal information (name, address, Social Security number, date of birth), credit accounts (credit cards, loans, mortgages), credit inquiries (when you authorize a lender to access your credit report) and public records (such as bankruptcy or foreclosure). If erroneous debts appear on a credit report, you should dispute the items to have them erased.
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Instructions
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Obtain a copy of your credit report. There are three major credit bureaus in the United States: Experian, TransUnion and Equifax. Under federal law, a consumer may obtain a free credit report every 12 months. The Annual Credit Report service, overseen by the Federal Trade Commission, allows consumers to order their report online, by phone or mail.
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Analyze your report for inaccuracies and gather documentation that will support your dispute. Credit report mistakes are often due to human error, such as transposing a number or applying a payment someone else's account. In serious cases, identity theft may cause invalid debts to appear.
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Contact the particular credit bureau that shows the information you wish to dispute. Choose between disputing the information online or in writing. Clearly identify the inaccurate information and include documentation that will support your dispute. Request that bureau delete the information in question from your credit report. You may also choose to submit a 100-word personal statement explaining your case, which will be added to your credit report.
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Mail your packet -- letter and supporting documentation -- to the credit bureau using certified mail, return receipt. Keep copies for your files. Bureaus are required by law to investigate all disputes and respond within 30 to 90 days.
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Tips & Warnings
Legitimate debts cannot be removed from a credit report. Negative items will remain between seven and 10 years.
References
Resources
- Photo Credit Debt concept - cutting a credit card image by Sophia Winters from Fotolia.com
