How Can One Remove Derogatory Credit Information from Your Credit Report?

Overview:

Credit Bureaus maintain credit related database of customers. Bureaus’ offer this information to the clients, creditors, and bankers for a fee. Apart from this, Fair Credit Reporting Act offer a right to the customers to obtain their credit report whenever needed and rectify erroneous or outdated information from their report.

Instructions:

  • Get a free copy of your credit report and review it thoroughly for any errors or mistakes. A request for a copy can either be made online or by telephone.
  • It is wise to check the report periodically because bureaus update their database often. Keep a keen eye on “negative accounts” and check which derogatory items are there in your report.
  • Dispute all those items which are derogatory with your credit bureau. One can choose to file the dispute online with the bureaus online. E-mail or a telephone call will also enable your file for the dispute. However, it is always better to file a written dispute along with authentic documents that support your dispute. This will help resolve the issue faster.
  • It is better to print the copy of your report once you get it from their site. This is because if you wish to view the report again the bureau will charge you again for the same.
  • The bureau takes about 30 working days to complete its investigation. Results of disputes aroused online will be sent through e-mail. Disputes initiated over the phone or mail will be delivered through the normal mail. The bureau will also offer a current report which reflects that the disputed item is removed.
  • Get in touch with your creditor in case the bureau is not satisfied and refuses to remove the disputed item from the report. If the creditor confirms that the due is cleared, the bureau will make the necessary changes and send a fresh report to you.

The above-mentioned points will help you remove derogatory credit information from your credit report.

Updated: December 1, 2016 — 11:17 am

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