My Credit Report Rights
2010
what are my legal rights in having my credit report updated in a timely manner ?
My credit report should be quite good, but I worked with an attorney in the past several years, and all my debts were settled. Now I just have to go and dispute because they didn’t “clean ” up my report from the company’s end. Do they have 30 days in which to respond or ??? and what else legally do they have to do ? professional help would be great, someone who knows or is knowledgable in this area.
You can dispute any inaccuracies directly with the credit bureaus. All three have websites with instructions on how to do that and it is free. However, keep in mind that if you were delinquent on a credit account and then satisfied it, it will STILL be reported as a negative account (it will show as satisfied, though) . No one can remove it. Anyone that claims that they will remove negative accounts from your report are defrauding you. What they do is they file a dispute with all three bureaus, then while the account is in dispute the account drops off your credit report TEMPORARILY until the dispute is resolved. That’s when the scam company that promised to ‘clean’ your credit runs a new report showing the account no longer on your report. Unfortunately, once the bureau investigates and determines that the account is legitimate, they will put it right back on the report. This only takes a few days.
The good news is negative info does not hurt your credit score after it has aged two years. That means if you were 30 days late on your car payment, after two years it won’t count against you. If you have a collection account, the two years are from when you last made a payment to them, so if you satisfied it, the two years starts from the day you paid it off, NOT when the account went in to collection..
All collection accounts, bankruptcies, foreclosures stay on your credit report for 7 to 10 years but do not affect your score after two years.
Hope this helps!
Know your Consumer Rights Improve your Credit Rating, Credit Score, or Credit Report
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