How to Erase Negative Credit Report Entries

Negative credit report entries on a personal credit report are detrimental to your financial health. These negative entries will prevent you from obtaining low-interest loans (especially on mortgages and car loans), getting an apartment or even getting a job for which you are otherwise qualified. If you have a legitimate reason for credit bureaus to review your report, you can erase some of these entries. However, the process is quite challenging.

Instructions

1

Pull your credit report to assess the total damage. Visit Annual Credit Report for a free copy. Circle all the negative entries. Retrace your financial past and try to establish reasons for each negative mark. You will discuss these with the credit bureaus.

2

Collect any documents that will corroborate any claims you intend to make about delinquencies. For example, if you were laid off and could no longer afford your bills, collect the old unemployment papers. If you were disabled on the job, find your disability payments.

3

Make copies of all documents, including the circled credit report. Do not send original documents to the credit bureaus.

4

Write a goodwill letter. This is the only way to get credit bureaus to remove negative items. Address each negative mark you wish to have removed. Write the letter with candor and straightforwardness, appealing to the decision maker's human side.

5

Review the letter for accuracy, grammar and style. Include all related documents. Send this package to all three credit bureaus (Experian, Equifax and TransUnion).

6

Await a response. Legally, the credit bureaus have 30 days to acknowledge the request and 90 additional days to take action.