Methods for removing derogatory information from credit reports include asking creditors to remove negative information; filing a dispute with the credit reporting agency; filing a complaint with the Consumer Financial Protection Bureau, or CFPB; and hiring a consumer law attorney, according to Credit.com. If these methods do not work, all derogatory information except for unpaid judgments and tax liens must be removed from a credit report after seven to 10 years.
Although they are not legally required to do so, some creditors stop reporting negative credit information upon request if consumers make compelling cases to do so, explains Credit.com. Alternatively, consumers may challenge inaccurate information on credit reports with the credit reporting agency. The creditor must then confirm the information within 30 days or remove the information. Consumers can choose to dispute the information themselves or use a credit repair company.
If the credit reporting agency fails to remove the inaccurate information, then the consumer may file a complaint with the CFPB, which is the federal agency that regulates creditors and credit reporting agencies. As a last resort, some consumers may need to hire a consumer law attorney to sue for relief pursuant to the Fair Credit Reporting Act, as Credit.com advises.