Is It Possible To Erase Bad Credit From My Report?


Are you not surprised at the sheer number of mails you get from little known sources about pre-approved disbursal of credit cards, unsecured home loan offers and vehicle loans? Did you, anytime, wonder how on earth they could manage this pre-approved loan, especially considering the fact that you have a bad credit running for years? Well, now take this; there are companies which offer to ‘legally erase’ your bad credit from your credit report for a small fee. Golly! I just wish all these were true. If you thought, at least for a moment, that this was a true offer, take it from me, you are not in the majority group.

Still, we haven’t answered the first question itself. Is it possible to legally erase bad credit? Unfortunately the answer is in the negative unless you succeed in proving to the credit bureaus, with conclusive evidences, that some or all of the entries in your credit report are wrong. But don’t get the credit bureaus wrong; they don’t just enter any information without sufficient reasons to believe them. But they consider to investigate your dispute/disagreement when made to them in writing with copies of what you believe are evidences for your dispute.

Will The Credit Bureaus Erase All Disputed Negative Points In The Credit Reports?
The credit bureaus are obligated to conduct an investigation from both the angles following your dispute. They have 30 days to complete the investigations in a normal case. They will have to erase the negative points only in two cases.
1. Their investigations conclude that you were right and the negative points were wrongly entered. This is a permanent erasure and it is marked in the fresh report.
2. The investigation fails to throw satisfactory evidences to conclude that the negative points are true. Then they erase your negative points and continue to investigate further till they are completely satisfied. There is a likelihood of the negative points returning onto the credit report, if the points are proven to have substance in them, at anytime.

Fair Credit Reporting Act and FTC declare this as the only way for erasing bad credit from your credit report, irrespective of what independent counselors claim. However, you can improve your credit report and credit scores legally, but it is not erasing bad credit.

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