ByHow to Remove a Negative Tradeline Credit From Your Credit Report
A tradeline credit is any individual account that is on your credit report. Credit tradelines can include extensive information about your accounts, including your loans, payment history, credit cards, and lines of credit. This information is used to calculate your credit score and determine your creditworthiness. That's why you should constantly evaluate every on your credit report and remove the negative ones.
Having undesirable tradeline credit is more damaging than you might think. Therefore, it is crucial to fix your credit score by eliminating them, including late payments, inquiries, and collections from your creditors. Let's dive deeper into tradelines on a credit report and how DoNotPay can help remove the damaging ones from your credit report.
What Is a Credit Tradeline?
refers to any credit account or item listed on your credit report. Therefore, for each credit account, you might have, there is a separate new tradeline containing all the creditors and the debt details. Creditors provide the information found on tradelines when they report the latest details about your accounts.
What Does a Tradeline Mean on Your Credit report?
Now that you know what a tradeline for credit is, let's look at what a tradeline means on your credit report. Credit tradelines can either be positive or negative. Positive tradelines for credit show that you are good at managing your debts and help improve your credit score.
On the other hand, negative tradelines appear on your credit report when you pay your bills late or have debts in collections. They show that you struggle to keep up with your bills and harm your credit score. Typically, credit tradelines help creditors determine whether you are worthy of receiving a loan. Creditors can also use tradeline credits to collect more information about you and your debt payment pattern.
How Long Does Tradelines Stay On Your Credit?
Tradelines can stay on a credit report for at least seven years. However, as long you have an open and active account, its tradeline will always be on your credit report. If you closed an account with a positive standing, it is up to the reporting agency to decide how long it will keep its tradeline, though it should keep it for ten years.
On the other hand, negative tradelines are removed from your credit report after seven years. For debt accounts resolved through bankruptcy, their tradelines may stay on your credit report for ten years. Therefore, bad tradelines will seriously affect you for a very long period. Luckily, DoNotPay is here to help you ensure that does not happen.
What to Look For on Tradelines on Your Credit Report
A contains a wealth of information about your debt and your account. Therefore, you should regularly review your credit report to identify negative tradelines that are fraudulent or have errors. When you detect a credit tradeline with issues, you can have it removed from your credit report. Importantly, check the following information on a tradeline credit to ensure that it is accurate and legitimate:
- The type of account
- Part of the account number
- The day you opened and closed the account
- Payment history, including the last payment
- Your name and address
- The debt amounts
Even though the information on tradelines varies depending on the creditor, the information included should always be error-free.
How to Remove Negative Tradeline Credits From Your Credit Report on Your Own
Can you imagine not accessing loans, mortgages, insurance, or credit cards for seven years just because of a negative tradeline? You can try from your credit report by:
| Dispute the listing | You can dispute your credit report for inaccurate and illegitimate tradelines by writing a credit dispute letter. The credit bureau should remove the negative tradeline within 30 days. |
| Send a validation letter | A debt validation letter ensures that your creditor can prove that the debt is yours. If they can't, you can have their negative tradeline removed from your credit report. |
| Check your state's Statute of Limitations | Though not advisable, you can check whether your debt is within your state's statute or not. If it is, you can wait until your debt ages out. |
Instead of waiting for long or struggling to remove an undesirable tradeline credit, let DoNotPay handle it for you. Essentially, removing tradeline credit should not be a long and frustrating process. That's why DoNotPay can help you remove them most simply and efficiently possible.
How to Remove Negative Tradelines From Your Credit Report Using DoNotPay
Since tradeline credits shape your credit score, you should always strive to maintain a good credit history. At DoNotPay, we understand how difficult it is to remove negative tradelines from your credit report. Therefore, we have made it much easier for you to keep your tradelines healthy and boost your credit score by removing negative credit tradelines from your credit report. If you want to clean up your credit report and improve your score but don't know how to go about it, 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.
And that's it! DoNotPay will file the suitable letter on your behalf (mailing is more effective in these cases since it's trackable). You should hear back from the lender/credit bureau within a few weeks with a response! After removing a negative tradeline from your credit report, you can also consider our other credit-related solutions, including Credit Limit Increase, Get My Credit Report, Keep Unused Cards Active, and more!
Let DoNotPay Handle Everything For You
DoNotPay has more products to tackle any problem or challenge in your life. With DoNotPay, you can:
- Learn financial appeal letters
- Avoid risking your credit score by using virtual credit cards
- Pay your bills without any challenge
- Cancel unessential subscriptions and services
- Avoid wasting money by finding lost items
DoNotPay can also help you with:
today, and you'll always be confident that you can solve any problem without much hassle.