Yes, you can removed settled debts -- if they are outdated as defined by law.
Under the Fair Credit Reporting Act negative information can be included in your credit reports for seven years. But there are exceptions to this rule:
If an item is outdated, you can dispute it on your credit report for free. Ask the reporting agency for a dispute form or submit your dispute in writing, along with any supporting documentation. Do not send them original documents.
Clearly identify each item in your report that you dispute, explain why you dispute the information, and request a reinvestigation. If the new investigation reveals an error, you may ask that a corrected version of the report be sent to anyone who received your report within the past six months. Job applicants can have corrected reports sent to anyone who received a report for employment purposes during the past two years.
When the reinvestigation is complete, the reporting agency must give you the written results and a free copy of your report if the dispute results in a change. If an item is changed or removed, the credit bureau cannot put the disputed information back in your file unless the information provider verifies its accuracy and completeness, and the credit bureau gives you a written notice that includes the name, address, and phone number of the provider.
You also should tell the creditor or other information provider in writing that you dispute an item. Many providers specify an address for disputes. If the provider then reports the item to any bureau or reporting agency, it must include a notice of your dispute. In addition, if you are correct � that is, if the information is indeed outdated � the information provider may not use it again.
If the reinvestigation does not resolve your dispute, have the credit bureau include your version of the dispute in your file and in future reports. Remember, there is no charge for a reinvestigation.
Here is more advice and input:
Besides paying your debts off or filing bankruptcy if you are unable to pay off these debts there is nothing you can really do to clear them from your credit report. Most debts stay on your credit report for seven years.
By definition, you have 'bad credit' if you pay your debts late or fail to pay them altogether. Therefore, if you have bad credit due to debts, or late payments, and you have no money, there is no way for you to repair your bad credit. But sometimes bad credit can be due to errors on your credit report. If this is the case, obtain a copy of your credit report, notify the credit reporting agency of the errors, and they will check into their accuracy and remove them from your credit report if they find that they are indeed truly errors.
If they are valid debt default entries they cannot be removed from the report until the required seven years have expired.
The fact that you have a repossession on your credit report is not a determining factor of whether your can file for bankruptcy. Generally in bankruptcy you can remove the debts from the repossession of your vehicle.
The FCRA says the SOL for debts or negs on your report can only remain for 7 years
Besides paying your debts off or filing bankruptcy if you are unable to pay off these debts there is nothing you can really do to clear them from your credit report. Most debts stay on your credit report for seven years.
a credit report indicates your history of generating and paying debts on time.
By definition, you have 'bad credit' if you pay your debts late or fail to pay them altogether. Therefore, if you have bad credit due to debts, or late payments, and you have no money, there is no way for you to repair your bad credit. But sometimes bad credit can be due to errors on your credit report. If this is the case, obtain a copy of your credit report, notify the credit reporting agency of the errors, and they will check into their accuracy and remove them from your credit report if they find that they are indeed truly errors.
If they are valid debt default entries they cannot be removed from the report until the required seven years have expired.
The fact that you have a repossession on your credit report is not a determining factor of whether your can file for bankruptcy. Generally in bankruptcy you can remove the debts from the repossession of your vehicle.
The FCRA says the SOL for debts or negs on your report can only remain for 7 years
get a copy of your credit report from all three credit bureaus
The short answer is the only answer one. You have to pay your debts off.
No. Overdue medical bills, like other debts incurred, can appear on a person's credit report, especially if they go into collections.
A credit report tracks your credit reliability based on your history of making payments on your loans and other debts. A credit score is a numeric value based on a weighted formula and your credit history. To find out more on both your credit report and credit score go to http://cashmoneylife.com/credit-score-credit-report-difference/
Yes, however, bankruptcy can remain on the report longer.
Debts included in the bankruptcy should be noted as such in the credit report. The bankruptcy will remain on the credit report for ten years.