How to Remove Old Paid-Off Debt From Your Credit Report

There aren't many options for removing old, paid-off debt from your credit report. The Federal Trade Commission reports that accurate information that is positive can be reported on your credit report indefinitely. That means a debt that you paid off without any late payments can be listed, theoretically, for decades. Old debts that contain negative information such as late payments can be reported for seven years. Most people looking to clean up their credit reports focus on debts they never paid off or paid late.

Instructions

1

Get a copy of your credit report from the website Annual Credit Report (see Resources). It is managed by nationwide credit bureaus TransUnion, Experian and Equifax. The website is authorized by the U.S. government to offer free credit reports under the terms of the Fair Credit Reporting Act.

2

Review the report to find old, paid-off debts that include derogatory information, such as accounts that were charged off because you fell six months behind, or accounts that were listed as collection accounts and sent to debt collection agencies. Once you paid the accounts they may have been updated on your credit report to show their status as "paid charge-off" or "paid collection account."

3

Check the dates of your final payments on the paid-off debts. The information will be listed with the account on your credit report. The Fair Credit Reporting Act requires outdated debts to be removed if you complain. That's your only option for having the old paid-off debts removed from your report. The information can also be removed if it is wrong, but that is unlikely given that you voluntarily paid off the debt.

4

Write letter to the credit bureau challenging all of the debts that are outdated. In your letter state that the debt is outdated and according to the Fair Credit Reporting Act should not be listed on your report. Wait for a response that should come within 30 days of the credit bureau conducting an investigation.