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Removing Accurate Negative Information

What if there is negative information, such as bad pay history on an account, that I want to be removed from my report?

Negative information on your credit file does affect your credit score and potentially your ability to access new or extended credit.

When negative information in your report is accurate, only time can assure its removal. A credit report bureau can report most accurate negative information for up to seven years and bankruptcy and public record information for up to ten years.

Information about an unpaid judgment can be reported for seven years or until the statute of limitations runs out, whichever is longer. There is no time limit on reporting information about criminal convictions, the information reported in response to your application for a job that pays more than $75,000 per year and information reported because you have applied for more than $150,000 worth of credit or life insurance.

Generally, the timeframe concerning these issues runs from the date that the event took place, not the date it was originally reported.

What about companies that offer to remove these items for me?

Many companies tout that they can remove even legit negative information from your credit report. These companies offer multiple services under the most common heading of “credit repair” or “credit clinic.” They can temporarily remove items from your report by using the dispute process that is set up for legit inaccurate information. This can cause trade lines to be removed while they are under investigation. Accurate negative information will return to your credit file once the removal request is determined to be frivolous or false.

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