Credit Repair Credit Repair

Removing Negative Records

What Can You Dispute?

The Fair Credit Report Act (FCRA) defines a process you can follow to dispute inaccurate or outdated tradelines and have them removed from your credit report. The FCRA is not intended to allow you to remove legitimate negative tradelines on your credit report. In fact, the Credit Repair Organizations Act, which regulates the credit repair industry, requires credit repair companies to make the following disclaimer to their clients:

You have a right to dispute inaccurate information in your credit report by contacting the credit bureau directly. However, neither you nor any ''credit repair'' company or credit repair organization has the right to have accurate, current, and verifiable information removed from your credit report. The credit bureau must remove accurate, negative information from your report only if it is over 7 years old. Bankruptcy information can be reported for 10 years.

However, even if a negative item on your credit report is yours, it may not be reported accurately or be verifiable in a timely manner. And that's good news for you because, if a negative tradeline on your credit report contains any errors (such as incorrect number of days late or amount of your current balance) or omissions (like missing account information), you can initiate a dispute. If the credit bureau is unable to verify or update the information within 30 days, the entire entry must be removed from your credit file!

> Finding Omissions and Errors on Your Credit Report