How to Remove Outdated Credit Information

Nearly every aspect of your life is governed by your credit report. Information contained in your credit report can be used to determine whether you get approved for health or life insurance, get a loan to buy a house or even if you get hired for a job. Fortunately, credit mistakes don't affect you forever, and most information is eventually eliminated from a person's report. Sometimes, though, credit reports contain outdated information and it becomes necessary to file a dispute to have that information removed.

Instructions

1

Order copies of your credit reports from the three major credit bureaus. By law, U.S. citizens can obtain a free copy of their credit per year from each of the three major credit bureaus. In most cases, you can order copies of your free annual credit report online, although in some cases you may be required to do so by mail. The credit bureaus have set up a website, AnnualCreditReport.com, through which consumers can order copies of their free annual credit report. You are also entitled to receive a free copy of your credit report if a potential lender used information contained in the report to deny your application for credit. You may also purchase a copy of your credit report for a fee, typically ranging from $8 to $15.

2

Check for outdated information on your credit report. Creditors typically report items for seven years from the date of last activity, or 10 years in the case of a bankruptcy. In the case of items not paid as agreed, creditors may define the date of last activity as 180 days from the time the account first became delinquent. In the case of items paid as agreed, the date of last activity is generally the date when the consumer made the last payment or paid off the account.

3

File a dispute to have the credit bureau remove any outdated information. The websites of the three credit reporting agencies outline the manner in which you may file a dispute. In most cases, you can file a dispute online, although in some cases the credit bureau may require you to download a form and file a dispute by mail. The credit bureaus are required by law to investigate your dispute within 30 days, and remove the outdated information or explain why they have not done so.

4

Ensure that a creditor or collection agency has not tried to re-age an outdated account. In some cases, disreputable collection agencies will falsify the date of last activity to keep it on your credit report longer than is allowed by law. If the date of last activity of an account listed on your credit report is incorrect, file a dispute with the credit bureau and demand the incorrect information be removed.

5

If a credit bureau refuses to remove outdated or incorrect information, file complaints with the Federal Trade Commission as well as the attorney general in the state where the company is located, and notify the credit bureau that you have done so. In most states, you can file a complaint with the attorney general via the state government's website.