ANYTHING that is not reporting 100% accurate, verifiable, and current must be removed…no matter what the account. I repeat ANYTHING…no ifs and or buts, if it’s inaccurate, unverifiable or obsolete (outdated in this case) then it MUST be removed.
If the disputes you send out do not request the item to be removed, but pinpoint each thing wrong about the account, then you may end up with an updated report which corrected all of the errors that could have gotten that account removed from your report. Be careful when disputing!
Now, I will go deeper into a few of the items that can be removed from your credit report, and the easy ways/reasons for the removals.
Withdrawn Federal Tax Liens
Years ago, the IRS announced that your tax lien could be withdrawn if you pay it in full, or enter into a repayment that leads to payment in full. While the IRS is not the ones reporting the information/account about you, the credit bureaus all have policies in place that they will remove ANY withdrawn tax liens.
Have you ever been sued by a collection agency, creditor, or anyone and had a judgement created against you? Well, judgments do remain on your credit report if it is reporting correctly for 7 years from the filing date, and that does not matter whether you have paid them or not. The exception to that rule though, is if your judgement gets vacated. A vacated judgement in a nutshell means…what judgement? It is as if it never existed!! The credit bureaus will remove them from your report if you can prove your judgement was vacated…not paid or satisfied…vacated. This does not mean if you paid your judgement with some finesse it can’t be removed, but we are speaking about easy ways/reasons to get items removed from your credit report.
Fraudulent accounts, or accounts that are not your will always be removed! This is NOT to tell you to go out and report all of your accounts as fraudulent though. You WILL go to jail, and don’t say Wonetta from VP Credit Rescue told you to on her blog! Now, moving on, once you notify the bureaus of the fraudulent accounts (with an identity theft affidavit and police report) within four days, the items MUST be removed.
Authorized User Credit Card Accounts
Did you add yourself to someone’s account to get their good credit and now they no longer have on-time payment and are destroying that account? You can have that account removed from your credit report so the damage will either stop spilling onto your report, or never spill onto your report. You would need to have yourself removed as an authorized user to make it easier and then just dispute it once done. If you are still on the account as an authorized user you can still have the account removed, just not as easy.
That’s all for today, but by no definition is that all of the easy ways/reasons nor the only ways/reasons to have things removed from your credit report.