How can I remove debts on my credit report that are erroneous or have been paid?
|
Spence wants to know:
I just pulled my credit report and I have several items that I have already paid. I have been told to write letters to the original creditor so they can notify the CRA’s or if they do not get back to me in 30 days (certified mail) that I could have these debts deleted from my credit report. What sort of letter should I write them, what sort of verbage needs to be contained in this letter, and are there any examples available online? Thanks!
I just pulled my credit report and I have several items that I have already paid. I have been told to write letters to the original creditor so they can notify the CRA’s or if they do not get back to me in 30 days (certified mail) that I could have these debts deleted from my credit report. What sort of letter should I write them, what sort of verbage needs to be contained in this letter, and are there any examples available online? Thanks!
Tagged with: Certified Mail • Cra • Debts
Filed under: True Credit
Like this post? Subscribe to my RSS feed and get loads more!
You cannot remove them even though they have been paid off. They are on your credit report for 7-10 years depending on the type of debit you have.
You cannot remove paid items – but you can get them updated to show “paid” status.
I would write a few letters. See the links below. Also attaching a link to a 9 page primer on how to do some good credit repair. Saw some things in there that I would recommend you do.
Good Lucki! ~ Suzi
Well I had written a pretty good explanation of a few things, but I re-read your question and decided that the link would help you out.
Derogatory items age off you credit file 7-1/2 years from the date of first deficiency, even if you pay them off. The derogatory item should be marked ‘paid’ but will stay the balance of the reporting period.
It is a very bad idea to repeatedly dispute legitimate derogatory items. Even if you do manage to get something removed, it is likely to show back up the next time the creditor updates to the credit bureau. Sending multiple bogus disputes will get you tagged by the credit bureaus and you will have trouble getting errors corrected in the future.
Also, be very leary of using any of the many form letters from so called ‘credit sites’. Most are chuck full of bad info and are extremely confrontational. They are more likely to do more harm than good.