Tips to remove derogs from Credit Report

[bdizzle]

Does anyone have any tips on removing delinquent accounts from your credit report? Old accounts that were charged off and/or settled. I know you can dispute these items, but I'm not exactly sure what I'd have to send and who I'd have to send it to.

Thanks

[Radiance]

I believe you can only dispute actual mistakes. Settlement doesn't entitle you to get rid of the delinquentes unless it was part of the settlement agreement, which is rare.

[poundwise]

"When negative information in your report is accurate, only the passage of time can assure its removal. A consumer reporting company can report most accurate negative information for seven years and bankruptcy information for 10 years. Information about an unpaid judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer."

Source - FTC.gov, Credit Repair: How to Help Yourself

[JoshuaHeckathorn]

If you do find something inaccurate on incomplete that's worth disputing (we all know CRAs make lots of mistakes), it's best to dispute it directly through the CRAs first.

Take a pass on the online dispute process. Keep your communications with them in writing, CMRRR, and wait for the response from their investigations before determining your next steps.

[wincrasher]

The scam artists out there who claim to be able to clean up your credit do it the following way:

They dispute all derogatory information weather factual or not. They are betting on a certain number of creditors will not return the required proof within the allowed time. Also, while items are in dispute, they are set aside.
If the required proof of the debt or late payment is not provided within the time alotted by the credit bureau, it is removed from your report. It's that simple.

That is not to say that a creditor won't post derogatory information in the future.

Is this honest? Nope. But it is not illegal to challenge the information. And there is not a penalty if the information is confirmed and reinstated.