:: Repairing your Credit

Can I Remove Bad Credit From My Credit Report?

Article 6 of 9 - Previously, we discussed how to read your Credit Score. In this article, we'll address a commonly asked question, "how can I remove bad credit?"

Yes, it is possible to remove bad credit. Despite the fervent proclamations of bureaucrats and credit bureaus everywhere, a simple fact remains: negative credit listings are deleted from peoples' credit reports by the thousands each and every day.

How is it possible?

The Fair Credit Reporting Act (FCRA) allows a consumer to challenge the information on his credit report on the basis of "completeness and accuracy." When a consumer files a dispute, the credit bureaus must contact the source of the credit information (the creditor) and confirm that the information is accurate, verifiable, and not obsolete. In some circumstances, the credit bureau is required to go beyond a simple verification of the creditor's own computer record. If, within 30 days, the credit bureau has not received verification from the creditor, then the credit bureau must promptly delete the credit listing.

Can I Repair My Credit Myself?

The Fair Credit Reporting Act gives you the right to dispute any and all items on your credit reports that you feel classify as inaccurate, unverifiable, or misleading. If the bureaus can not verify that the information on your reports is indeed correct, then those items must be deleted.

Disputing items on your credit report is not difficult but getting the credit bureaus to act can be difficult, time consuming and frustrating. It is not a coincidence that the Federal Trade Commission receives more complaints against credit bureaus than any other type of business. Unfortunately, the credit bureaus are primarily interested in protecting their profits.

Restoring your own credit is like repairing your own transmission or representing yourself in a legal issue. it is possible, but you must decide if you are willing to take the time and assume the risks of doing it yourself. Most people choose to allow an attorney to represent them because an attorney better understands the complexities of the legal system.

In our next article, we will look further into methods to repair your credit report.