Removing Negative Items From Your Credit Report on Your Own
There are many reasons people get negative items listed on their credit reports. These negative marks can really be a problem if you want to get a loan or make a large purchase. Depending on what the negative items are, they can affect your credit report for seven to ten years. This article takes a look at what steps you might be able to take to remove negative items from your credit report by yourself. Then keep reading to find out how DoNotPay products can save you time and money by handling this task and many others on your behalf. Or check out other articles from the Clean Credit Report product series.
- How To Remove Late Payments From Credit Reports
- Credit Dispute Letter
- How To Remove Inquiries From Credit Report
- How To Fix Credit Score
What Negative Items Affect Your Credit Score
Several things can result in negative marks on your credit report. Late payments, delinquent accounts, foreclosures, hard credit inquiries, and collections can all bring your score down. According to CNBC News, nearly one-third of Americans have found errors that are negatively affecting their credit score. To find out what items are specifically impacting your score, you should get reports from the three credit reporting agencies. They are Experian, Equifax, and TransUnion.
Why Should You Remove Negative Marks on Your Credit Report?
Negative marks on your credit report bring your score down, and once reported, they keep it down for many years. This can keep you from buying things, like a car or house. It can even keep you from renting an apartment or, in some cases, getting a job. If you can get approved for loans or credit cards, you will pay a much higher interest rate than someone without the negative items. If you find errors, you are being punished for debt that does not even belong to you.
Can You Remove Negative Items From Your Credit Report on Your Own?
If you find errors on your credit report, you can file a dispute with the agency reporting the negative item or with the business that holds the account. Once you have proven the debt is an error, it will be removed, but you may have to contact each reporting agency to remove the mark on their report. Legitimate bad debts that you owe cannot be removed from your credit report by you or by a third-party company. These marks can only be paid in full, or they remain on your credit report for seven to ten years.
Here are the steps you can take to identify and dispute errors on your credit report yourself. You can make a dispute with a credit reporting agency or with the account holding company. Both can be done by following these steps.
- Go to Annualcreditreport.com to receive the free yearly credit report you are entitled to by law.
- Identify any derogatory or delinquent accounts. It is important to review the details of each and check for accuracy.
- When you find inaccurate information or accounts that you do not recognize, these are possibly removable errors.
- You must file an error dispute with the credit reporting agency when you locate errors. This can be done online or by mail.
- Gather evidence. You will need to be as specific as possible about the error and why it was an error.
- You must submit a dispute letter when you dispute the error by mail. The website allows you to do the same online.
- Include copies of all proof documents.
- When mailing your dispute and evidence, it is recommended to send it via certified mail. This allows you to verify your document was delivered to the correct location.
If the error is recognized and removed, you will need to contact each of the other reporting agencies to inform them of the error so they will remove it as well. If they do not find it to be an error, the item will not be removed. A few other options include sending the creditor a letter to request a goodwill debt removal or hiring a high-priced credit repair service. Some have reported success with goodwill letters using the Saturation technique referenced on myFICO.
Resolving Negative Items on Your Credit Report With DoNotPay
The Clean Credit Report product from DoNotPay can save you time and money by cleaning up your credit report on your behalf quickly, easily, and successfully.
How to clean up your credit report using DoNotPay:
If you want to clean up your credit report but don't know where to start, DoNotPay has you covered in 3 easy steps:
- Search Clean Credit Report on DoNotPay.
- Prepare a recent copy of your credit report that you can use as a reference.
- Let us guide you through the 4 potential options:
- If you've already paid off your debt, we'll help you file a Goodwill Removal Request to get it removed.
- If you notice any errors in your report (we have a list of common errors you can use!), we'll help you file a credit dispute to the creditor or major credit bureaus.
- If there are no errors, we'll check if you're still eligible to file a debt validation request. If they can't validate your debt, they're required to remove it from your report and they can't collect it!
- Lastly, if none of the above options work, we'll help you file a pay-to-delete negotiation letter. You can customize the amount you are willing to pay in exchange for getting the item removed.
You can also check out our other credit products, including Credit Limit Increase, Get My Credit Report, Keep Unused Cards Active, and more!
Why Use DoNotPay to Clean Up Your Credit Report?
The products from DoNotPay aim to save you time and money by handling tasks on your behalf. These complex and confusing tasks require research and saturation campaigns that you just cannot seem to find time to complete. Complete these tasks quickly, easily, and successfully while saving time and money.
DoNotPay Works Across All Companies/ Entities/Groups
No matter where you live or what company your debt is with, DoNotPay works quickly, easily, and successfully with them all. The Clean Credit Report product also works in different credit situations. Here are some more articles in the product series.
- How To Improve Credit Score
- Dispute Credit Report
- How To Remove Collections From Your Credit Report
- Debt Validation Letter
What Else Does DoNotPay Do?
The Clean Credit Report product is just one of the many products DoNotPay offers to save you time and money in various ways. Each product can handle tasks on your behalf quickly, easily, and successfully. Check out the other product series from DoNotPay.