How to Delete Entries on a Credit Report

There are limited options for deleting entries from a credit report. The Federal Trade Commission suggests that most people should focus on how they are currently using credit instead of worrying about the past. By law, most negative information on credit reports remains for seven years, after which time it automatically expires. Bankruptcy information remains for a minimum of 10 years. Negative credit information such as late payments, judgments, foreclosures and charge-offs make it difficult to receive new credit at low interest rates. However, the FTC reports that it is possible to rehabilitate credit over two or three years -- even if old negative information remains on the report.

Instructions

1

Get copies of your credit reports from Annual Credit Report -- the only website specially authorized by the Federal Trade Commission to offer free credit reports. Reports are available from the three major credit bureaus -- TransUnion, Equifax and Experian. Visit the website to view and print your report.

2

Read the credit reports to spot entries you wish to delete.

3

Contact creditors directly to ask for removal of late payments from the credit reports -- if you are a loyal customer and usually pay on time. This strategy does not always work, but credit card companies and other creditors may occasionally delete a late payment as a show of goodwill. For example, a credit card company may help you rebuild your credit by agreeing to remove a late payment after you make say, six consecutive payments on time. Creditors have the right to delete information from reports at their discretion.

4

Negotiate pay-for-delete arrangements on charged-off accounts. A charge-off is an account a creditor closed because of nonpayment. The term "charged-off" appears on the credit report and is very harmful to credit scores. Contact creditors by telephone and offer to pay the delinquent balance in a lump sum if the creditor will delete the entire account from credit reports. Pay-for-delete is legal but not widespread, as many debt collectors and creditors believe it is unethical.

5

Contact credit bureaus to request deletion of outdated information on your credit reports. Outdated information is negative information listed on the credit report for more than seven years, except for bankruptcy, which remains at least 10 years.

6

Request that credit bureaus delete any information on your credit report that is inaccurate. The credit bureau must remove information that is outdated or delete or correct inaccurate information. The credit bureau also has the right to declare your request as frivolous and allow the information to remain. Dispute outdated or wrong information on the report by writing a letter to the credit bureau at its address on the credit report -- or follow instructions on the report to enter disputes online or by telephone.