How to Remove Negative Accounts From Credit

When thinking about applying for a loan or credit card, be prepared for a credit check. Most creditors will view an applicants credit history during the application process. It is important that the credit report displays accurate and updated information about payment history. If there are negative accounts listed on your credit report, have that information removed as soon as possible. There are legal ways to remove these negative accounts from a credit report--if the information is inaccurate.

Instructions

1

Order a current credit report. Order a free copy of a credit report by visiting AnnualCreditReport.com. Request the credit report from each of the major credit bureaus--Equifax, Experian and TransUnion.

2

Review credit history for negative information. There are different types of negative items that may appear on a credit report, such as public records (tax lien, bankruptcy filing, judgment, garnishment, foreclosure, eviction or marital item), delinquent payments, charge-offs or debt collections. Make a list of the negative accounts that appear on each credit report.

3

Dispute the negative accounts with the credit bureaus. Locate the appropriate dispute form by visiting each of the three main credit bureaus' websites. On the dispute form, identify the negative account, provide the creditors name and give the reason why you are disputing the information. Please note that a separate form must be submitted for each item disputed. In addition, provide the credit bureaus with supporting documentation for each dispute, such as payment receipts or a settlement letter from the creditor.

4

Give the credit bureaus a sufficient amount of time to process the dispute forms. Depending on the nature of the dispute, it may take up to 45 days for the credit bureaus to complete an investigation. Credit bureaus are required to contact each creditor to validate the information in question. Once the credit bureaus have completed an investigation, they will contact you with the results.

5

Check the credit report for the appropriate updates. Give the credit bureaus 30 days to update the credit report. Order a credit report from each credit bureau and confirm that negative accounts have been removed.

6

Contact the creditors to discuss options. If the credit bureaus are unable to delete the negative accounts from the credit report, contact each creditor to discuss payment options (if you still owe a balance). Perhaps the creditor will delete the negative account information from your credit report if you pay the past due balance in full. Try to negotiate a settlement offer or monthly payment plan on past due accounts. Be sure to get the agreement in writing before submitting first payment to the creditor.