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Yes, you can removed settled debts -- if they are outdated as defined by law.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:

  • Information about criminal convictions may be reported without any time limitation.
  • Bankruptcy information may be reported for 10 years.
  • Information reported in response to an application for a job with a salary of more than $75,000 has no time limit.
  • Information reported because of an application for more than $150,000 worth of credit or life insurance has no time limit.
  • Information about a lawsuit or an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer.

If an item is outdated, you can dispute it on your credit report for free.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 In addition, if you are correct � that is, if the information is indeed outdated � the information provider may not use it again.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:

  • Yes, they can be removed. I have found three services so far that guarantee the results for complete credit cleaning or removal of any items you want for one year for $400-800 total.
  • The answer is not just to dispute the items. You want a book that explains WHY the credit bureau broke the law, and helps you draft the letter threatening legal action. Dispute letters are a waste of time in most cases and can't get a bankruptcy or foreclosure off your report. You have to apply the laws. For instance, I've learned that foreclosures and bankruptcies must be HAND DELIVERED to the credit bureaus, which NEVER happens, before they can be listed on the report.
  • Yes. Contact the establishment you paid. Tell them to withdraw the claim from the reporting agency. If they do it should be removed within 30-60 days. However, they do not have to remove it if under the 7 years. Ask nicely explain you plight and I have found 3 of my creidtors withdrew the claims.
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โˆ™ 2012-02-10 18:10:40
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Q: Can you remove debts you have settled from your credit report?
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Related questions

What can you do to help clean up debts on your credit report?

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.


What is the meaning of a credit report?

a credit report indicates your history of generating and paying debts on time.


How can you remove debts that are five years old from your credit report?

If they are valid debt default entries they cannot be removed from the report until the required seven years have expired.


Can you file for bankruptcy with a repo on your credit?

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.


When can you have bad credit removed from your credit report?

The FCRA says the SOL for debts or negs on your report can only remain for 7 years


How do you find debts owed to file bankruptcy?

get a copy of your credit report from all three credit bureaus


How do you clear your credit report?

The short answer is the only answer one. You have to pay your debts off.


What is a credit reports?

credit report is the performance of a borrower on how she/he pays his debts on his credit cards, there are three credit reporting agencies which allows you to prevent from identity thefts, double charges and so on that will appear on your credit report score.


Is it illegal to put overdue medical bills on a credit report?

No. Overdue medical bills, like other debts incurred, can appear on a person's credit report, especially if they go into collections.


How can you fix your credit when you are broke?

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.


What are the laws pertaining to a credit reporting agency still reporting after a bankruptcy discharge?

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.


Is it true collection debts erase from your credit report after 7 years?

Yes, however, bankruptcy can remain on the report longer.


You have paid off all your debts how long does it take the credit reporting agencies to reflect this?

If you have paid off all your debts, and your credit report is not reflecting this then it is up to you to make sure that this is updated.


Who is responsible for your credit card debt after your death in Mississippi?

The estate is responsible for the credit card debts of the deceased. That means before the estate can be settled, all debts have to be cleared. If there is not enough in the estate to cover them, they may not get paid.


Is a credit report the same as a credit score?

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/


If you haven't paid your credit-card debts in 7 years can you apply for a new card?

When you apply for a credit card a credit report will be ran and those credit cards you haven't been paying will be on that report. So I say no.


Can you get a good loan rate if their are satisfied judgments on your credit report?

Yes you can, it will be based on your credit scores and how you are currently paying you debts now.


Why does your credit report show some debts that you incurred over 5 years ago as being reported as recently as this month?

This is probably because they are still out standing debts. You have to pay them. It will still stay on your credit report for seven year period. Good Luck.


How do you know if your bankruptcy is discharged on your credit report?

Bankruptcy does not get discharged. Debts are discharged. The bankruptcy will remain on your credit report for 10 years from the date of filing. The debts that were discharged can remain for 7 years from the date of discharge, showing a zero balance and that they were discharged in bankruptcy.


Requesting Your Free Annual Credit Report?

Getting a copy of your credit report is a great way to make sure your financial health is in order. The Federal Trade Commission mandates that each citizen is entitled to a credit annual report at no cost, once yearly. Requesting your free annual credit report is easy. Simply find a site that offers free credit reports and request your one-time report. This will give you a snapshot of your debts and any actions taken by your creditors. With a free annual credit report, you will be able to clear up any errors or inconsistencies, settle debts and raise your score. Request your credit annual report today.


What if a creditor is not on your credit report but trying to collect a debt?

You must pay all of your legitimate debts. A creditor is not required to report a debt to a credit bureau in order to collect the debt you owe.


When filing bankruptcy what do you do with creditors that 'drop off' your credit reports before you file?

Your credit report is irrelvent. Certainly many debts are not on one. If you owe the debt, report it.


If several debts listed on a credit report are sold to a new collection agency and then paid in full can the debts from the old agency be disputed and removed from a credit report?

Yes and no. What the original credit agency should be reporting is that the debt was transferred to a new collector. Once you have proof that the debt was paid in full, you should be able to provide all creditors that are reporting negative info regarding that debt that this is the case and they should mark your records accordingly with a zero balance. It is really entirely up to them as to whether or not they totally remove the entry from your credit report.


If a collection account isn't a credit card does it fall off your credit report immediately once it is paid?

No. Negative entries concerning all creditor debts remain on the consumer's credit report for the required 7 years.


If you paid off all of your collection accounts after being turned down for a mortgage how should you try to improve your credit?

What you need to do is obtain a copy of your credit report. These are agencies that keep track of people's debts and credit ratings etc., and whenever you apply for a loan or credit card or mortgage etc., the bank obtains these reports from these agencies. There are 3 major credit reporting agencies in the USA, and you can get a copy of your credit report from them for free, or for a minimal fee. Study it to see if there are any errors, or debts which have been paid off etc. Then you have to write to the credit reporting agency and ask them to make the specific corrections, or remove erroneous information. Then it is up to them to prove that the information is wrong, or remove it.