How to Remove Negative Credit Information

Having negative entries on your credit report can impact many areas of your life, including your career and living situation. Too many negative entries can prevent you from getting a home or auto loan. The three major credit reporting bureaus, TransUnion, Equifax, and Experian, collect information about your credit and payment history and make it available to people who order your credit report. Disputing negative items as soon as they appear can help you achieve clean credit and get the consideration you need from banks, real estate agents and employers.

Instructions

Untrue Entries on Your Credit Report

1

Order a free copy of your credit report from the three credit reporting bureaus. This is available once each calendar year (www.annualcreditreport.com) and you can see review the information for positive, negative or neutral entries.

2

Circle any negative entries that you don't think are correct and any entries that you want to dispute.

3

Write a separate letter for each entry. Detail the amount of the charge, what company is requesting it and why you don't think it's accurate.

4

Make copies of any documentation that supports your claims, such as paid bills or emails from creditors. Include copies in each of your letters.

5

Send the letters and copies of the documents to the credit reporting bureau that had the negative entry. Send the same information to the creditor involved. You can find addresses for disputes on the website of each credit reporting bureau. For creditor disputes, the address may be on their website or your credit report.

6

Wait to hear the results of the credit reporting bureau's investigation into the matter. If it doesn't find in your favor, write a new letter and start the dispute again. It may take several tries before the negative item is removed from your credit.

Correct Entries on Your Credit Report

7

Similar to disputing incorrect entries, to take care of correct, negative credit information, you need a recent credit report. Order a free copy from the three credit reporting bureaus. This is available once each calendar year (www.annualcreditreport.com) and you can see review the information for positive, negative or neutral entries.

8

Circle any negative entries that are correct and that you want to remove. Make a note of each creditor's phone number and address.

9

Call the creditors and tell them that you want to settle the debt. Offer them either the full amount of the debt or a lesser amount as a compromise. Explain that you want to have the entry removed from your credit in return for paying the debt. Say that you will pay via check.

10

Request a letter or email agreeing that they will remove the negative report from your credit once the payment you've agreed to has cleared. Be sure they have your correct address. Put a hold on the check that you send to them.

11

Clear the payment check once you have the letter agreeing to the terms. Keep it in a safe place. Once the check has cleared, call the creditor and request that they remove the negative item from your credit as per your agreement. If they do not, dispute the entry using the letter they sent you and a copy of your bank record showing the payment being cashed as evidence. Dispute the charge as you would an incorrect entry on your credit at this point.