Remove all negative entries from your credit report within 30 days? That's easy--as long as the information is inaccurate. The Fair Credit Reporting Act requires the nationwide credit bureaus to remove inaccurate information within about 30 days of being informed of the errors. However, there are no provisions in the law for removing negative information that is true--unless the creditor or debt collector agrees to have the credit bureau remove the information in exchange for you paying the full balance. Otherwise, negative credit reports such as charge-offs and collection accounts can remain on your reports for a minimum of seven years.
Instructions
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Obtain a copy of your credit report from the Internet site Annual Credit Report (see Resources). The site is authorized by the Federal Trade Commission to offer you three free credit reports every 12 months. View and print your report from the site or see instructions on the homepage to order by standard mail or telephone.
2Review your credit report for inaccurate information. Request that the information be removed by writing a letter to the credit bureau at its address on the report. Explain why the information is inaccurate. Include your name, address and telephone number along with your Social Security number. Conversely, you can enter a dispute online (see Resources).
3Contact creditors or debt-collection agencies to resolve your delinquent accounts. Get their contact information from the credit report. Offer to pay the old balances in full in exchange for the negative information being deleted from your credit report, a process called "pay for delete." Such transactions are legal but difficult to come by since some creditors believe they undermine the credit-reporting process. Get your pay-for-delete agreement in writing and ask the creditor or debt collector to remove the information within 30 days. This option is not available for serious negative entries such as foreclosures or bankruptcies.
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