How to Dispute an Old Credit Report Entry

Credit agencies keep thorough records on all American consumers who use credit. Some debts can legally remain on a credit report for as long as 10 years. If you are struggling with an old debt on your report, you can take action to try and remove it. To do this, though, you need to determine what the account is, where it began, whether it has a balance and if it is incorrect.

Instructions

1

Collect any supporting documents if the old account is reporting an error. These documents could include an old paid-in-full letter, a cancelled check or a bank statement confirming the payment. Send a brief business letter to all credit bureaus. Include your name, address, Social Security number and the account in question. Refer the bureaus to the documents contained in your letter and request that they correct the error.

2

Check the statute of limitations for debts in your state. In many states, the statute of limitations on credit card debts is seven years. If the old account has been on the books longer than the statute allows, write all the credit bureaus and ask them to remove it. Include the copy of the state's statute of limitations for your type of debt.

3

Pay the account if it is still active and has not passed the statute of limitations. To dispute the account, it must be paid first. You cannot remove the item until it has a zero balance. Contact the original creditor. They may refer you to a collections agency. Ask for a payoff statement.

4

Write a goodwill letter to the credit bureaus if the account has not yet passed the statute, is a valid account and is paid in full. The bureaus have a legal right to keep the old debt on your report. A goodwill letter is a plea to remove the debt.

5

Include your name, address, Social Security number and account number in the letter. You must reference the economic hardship you suffered in the goodwill letter. You should also provide evidence to support that argument (disability award letters, Social Security income, unemployment checks). Send this letter to the credit bureaus.

6

Wait for a response from the credit bureaus. According to the Fair Credit Reporting Act, the bureaus have 30 days to respond to all inquiries, and an additional 90 days to correct errors, review accounts for statute-expired debts and remove items.