Negative information in my credit report

Hi Guest,

Welcome to the forums. Your credit report is the most important financial document which decides your financial worthiness. It is important to maintain its dignity so as to retain your credit rating.

Your credit report needs to present the accurate data of your credit history to anyone who has the permission to view it. If your credit report is showing a negative entry, but if it is true, then it will stay in your credit report. But if the entry is found to be incorrect, then you will have to file a dispute to get it removed.

None other than you can fix your credit report. It is the time only and your good pay history that can get it removed.

Regards
Roxette

[quote=Anonymous]there is a negative information in my credit report. please, can you remove it..thanks[/quote]

Unfortunately, legitimate negative information is allowed to remain on your credit report. They are allowed to keep negative information on your credit report for 7 years.

However, in certain situations, they are allowed to keep that data on for a longer period of time.

For instance,

1. Information concerning criminal convictions could remain on your report for an unlimited amount of time.

2. Bankruptcy can be reported for up to 10 years.

3. Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer

4.Information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit.

5.Information reported in response to an application for a job with a salary of more than $75,000 has no time limit.

Now if that negative information is inaccurate, you do have a right to dispute these entries in order to remove them. Because under the new law, credit reporting agencies and the information providers have a responsibility to correct any incomplete or inaccurate data in your report.

In order to dispute entries, you must send a letter to the credit reporting agency in writing. The credit reporting agency must investigate your claim within 30 days.

When the investigation is complete, the credit reporting agency will give you a written response to your inquiry and they will also provide you with a new credit report if any changes were made.