If you have been told that your bad credit can be gone in 30 days, it is safe to say you should run far away from whomever claims that. It takes 30 days for an item you dispute to receive a reply and sometimes the item is updated and you have to dispute again. You are able to dispute accounts that are reporting inaccurate, unverifiable, or obsolete by F.C.R.A (Fair Credit Reporting Act) law. If the negative account is reporting everything accurate, verifiable, and current then there goes that claim. No one can promise to remove every bad mark from your credit report in 30 days. I take that back, many people or companies CAN promise to remove every bad mark from your credit report in 30 days, but read the example to see why you should not believe that.
Jenny has 4 negative accounts on her credit report. “XYZ” Company/ “XYZ” Person promises Jenny those 4 accounts will all be gone in 30 days.
**30 days later**
Jenny receives her results from the disputes sent out by “XYZ” Company/ “XYZ” Person. She finds that one (1) has been deleted (removed from the report), one (1) has been updated (remains on the report, and some information has been added/changed), and the other two (2) have been verified (remains on the report as the accounts have been marked as verified to be yours).
As you can see that promise has just been broken. Now, the 3 items that were not deleted could very well be reporting inaccurate, unverifiable, or obsolete. Sometimes, you have to try again and on the second round those items could be removed. The point is, there are many variables on why an account could remain on a report, so no one/company should promise that everything will be removed.
Negative credit accounts are deleted from peoples’ credit reports by the thousands each and every day. The proof is everywhere you see “deleted” next to an account that was disputed. You can google those results, check out my Instagram page for results, and numerous other credit repair companies’ pages as well.
I’ll leave you with this until next time. Bad credit is more than just having items disputed and removed/deleted. Sure, that it a big step in moving towards a great credit score and a positive credit report… but that’s not all. Those negative accounts that were removed have to be replaced with positive accounts, and that doesn’t reflect overnight. From the first dispute that has been sent out, credit education, and learning your financial limits, goals, and budgets should begin to ensure your financial habits improve. That is the key to getting bad credit deleted!
Fair Credit Reporting Act (Most widely used; U.S. Citation References)
*Proof that U.S citations are used and should be referred to will be found in pdf page 3, first paragraph which states:
For example, this version uses F.C.R.A section numbers (§§ 601-629) in the headings. (The relevant U.S. Code citation is included with each section heading and each reference to the F.C.R.A in the text.) Although the staff has made every effort to transcribe the statutory material accurately, this compendium is intended only as a convenience for the public and not a substitute for the text in the U.S. Code.
§ 605. Requirements relating to information contained in consumer reports [15 U.S.C. § 1681c]
Pages 22-25; The title of this chapter (every chapter) uses the U.S. Code citations 1681c published in 1992 but is still referred to in the updated Fair Credit Reporting Act.
Fair Credit Reporting Act (1992) titled with U.S Code citations
Sec. 1681c. Reporting of obsolete information prohibited