Re: Removal of info

Posted by CardReport.Com on October 27, 2000 at 03:21:42:

In Reply to: Removal of info posted by jaye on October 26, 2000 at 14:52:38:

If the item is over seven and a half years old
(counted from the date you became deinquent and
never again caught up), then you can write directly
to the credit bureaus, and point out that it has
expired for reporting purposes. Note that this
time limit applies to regular items like late-pays,
charge-offs, collection accounts, etc. Unpaid
lawsuit judgements, unpaid tax liens and unpaid
student loans can last much longer.

Outdated information generally is automatically
removed from view by the credit bureaus' computer
systems without the consumer having to request it.

If you are going to ask a creditor to remove
negative information, you will need a reason for
them to do so. And it needs to be a reason that
is meaningful to *them*. If you still owe them
money, then you might be able to offer a lump-sum
(i.e. all at once) payment to settle the debt, with
a possible agreement on their part to *not* confirm
the item if/when you later dispute it with the
credit bureaus.

If you are still a customer of one of these creditors
(e.g. if the negative item was an old late payment
on a credit card that you still have), then you
*might* be able to convince them to help you as a
matter of general customer "goodwill." But I wouldn't
count on it.

If the accounts are already closed, and you either
have already paid them off, or you aren't willing or
prepared to do so, then the creditors have *no*
incentive whatsoever to do you any favors.

Read more about Bad Credit Time Limits

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