Luckily, it is possible to remove something off your credit report without having to wait 7 years for it to delete automatically. It’s smart to remove something from your credit report if you’re trying to clean up your credit report for a mortgage or car loan. Perhaps the negative entries are just bothering you!
Whether you’re dealing with late payments, collections, charge offs, or foreclosures, there are several effective techniques that will clean up your credit report rather quickly.
Start With a Credit Dispute Letter
Before you try anything else, you should first make sure the negative entry on your credit report doesn’t have any inaccuracies. Studies have shown that most people’s credit reports contain errors.
The trick here is to look for any errors whatsoever on each negative entry. Just because the entry itself is accurate doesn’t mean the details about the entry on your credit report don’t contain errors. In fact, you’ll find out that it most likely does.
The first step is to get a copy of your credit report and closely look over each entry and check each detail against your records.
You should check the following things:
- Account number
- Date opened
- Account status (e.g., Closed)
- Payment status (e.g., Collection)
- High Balance
- Credit Limit
- Anything else that appears to be inaccurate
Every time you find an error, note what is inaccurate along with the accurate value. Next, you want to write a detailed dispute letter using my advanced credit dispute letter template. You will send this letter to the credit agencies asking them to correct the inaccuracies or remove the entry. The best part is that many times they can’t verify each detail about the entry so it’s removed.
Write a Goodwill Letter
If disputing the negative entry doesn’t work (that is, either there weren’t any errors or the credit agencies verified them as accurate), your next step should be writing the creditor or collection agency asking them to remove the negative entry out of goodwill. This is most effective when you’re trying to remove late payments, paid collections, or paid charge offs.
A goodwill letter is really easy to write and you can use my goodwill letter template as a starting point. You will basically explain your situation to the creditor or collection agency. While this may seem like a long shot, you’d be surprised how often it works. This is especially true if you’re a current customer because they want to keep your business.
Negotiate “Pay For Delete”
If you have any unpaid collections or charge offs, the best way to get them removed is to negotiate with the creditor or collection agency and offer to pay the unpaid debt if they agree to delete the negative entry from your credit report. This is very effective as long as you get everything in writing. Therefore, never do this over the phone. Rather, use my Negotiate A Complete Removal letter template.
Get Help From a Credit Repair Professional
This option is good when you don’t have the time for do-it-yourself credit repair. Maybe you just don’t want to deal with it yourself, and that’s fine. There are many credit repair professionals out there for you to choose from. Lexington Law Credit Repair is a reputable professional and will give you a free consultation.
I also recommend that you read my Do-it-yourself credit repair guide. This is especially useful if you have several things to remove from your credit report.