Credit Removal Request
Who can initiate a credit removal request?
What kind of information can be removed?
When can it be done?
How do you make a request?
How long does it take?
How fast does information come off a credit report?
How Do You Get Things Removed From Your Credit Report?
There are three major credit reporting agencies: TransUnion, Experian, and Equifax. It’s important to ensure all three credit reports are accurate before doing anything else. This can be done by ordering a free report from each one of the three credit bureaus every year or by going online at annualcreditreport.com. If the negative item is on all three reports then it could be harder to get it removed. Often times you need to hire a lawyer to file a lawsuit to get the item removed.
Once you have determined which credit report has the negative item, it’s time to contact the bureaus to try and have it removed. Unfortunately, creditors do not always cooperate and will fight with you to keep the negative item on your credit report. Contacting the creditor is not always easy either. They will often not respond to your requests for help or respond with confusing reasons why they can’t remove the negative item. This is why it is important to dispute with the credit bureaus. If you do receive a response from them it could be one of three basic types:
- The creditor says nothing to you and just does not report
- The creditor says they can’t remove the item even though it’s accurate because it helps them assess your creditworthiness to give you a loan or line of credit. This is known as a permissible reason for reporting negative information and means the creditor isn’t required to remove the negative report.
- The creditor says they can’t remove the negative item because it’s accurate, but they may still do so if you pay off the debt in full, settle for less than what is owed, or file bankruptcy. This is known as a permissible reason for reporting negative information and means the creditor isn’t required to remove the negative report.