Credit Restoration Handout


Credit Report Errors and Obsolete Information


There are standard procedures to get rid of errors and obsolete information on your credit report. First, it is important to know what is considered an error on a credit report. The law defines a billing error as any charge:

  1. For something you didn't buy or for a purchase made by someone not authorized to use your account
  2. For something that is not properly identified on your bill or is for an amount different from the actual purchase price or for something entered on a date other than the purchase date
  3. For something that you did not accept on delivery or that was not delivered according to agreement
  4. Involving errors in arithmetic
  5. Involving a failure to show a payment or other credit to your account
  6. Involving a failure to mail the bill to your current address, if you told the creditor about an address change at least 20 days before the end of the billing period
  7. Involving questionable items, or any item for which you need more information

Positive information about your credit history will remain in your credit file indefinitely. However, the law clearly defines the length of time negative information can remain on your credit report, and at what point negative information is considered obsolete, and must be removed. For example, the law considers a bankruptcy to be obsolete information on your credit report after 7-10 years. Most other negative information is considered obsolete after 7 years, such as late payments, charge-offs, and collection agency actions.


Credit Restoration
Report Errors and Obsolete Info
Correcting Reports
Free Credit Report

Sample Letters
How to Turn Late Payment Marks Into a Positive Credit Rating
How to Turn Bad Current Debts Into a Positive Credit Rating
Use A Consumer Statement to Explain Negative Credit History
When The Consumer Statement is Most Effective
Summary