Erroneous information is bad information and it’s especially bad news for your credit rating. If you have been refused a loan or if your credit rating is in bad shape, maybe it’s time for you to repair your credit. So now the question: can you truly erase negative credit on your credit report? If you mean legally, the answer is yes. Here’s how:

1. Obtain a copy of your credit report first.
Write or get in touch with the three credit reporting bureaus for your credit report. You’re entitled to one free report each year, so make sure to request it at the most opportune time.

2. Review your credit report.
At this point, let’s make one thing clear: only erroneous reports that show up as negative credit on your credit report may be erased. If the rest of the stuff that appear on your credit report is real, you can’t do anything about it.

Once you’ve received your credit report, examine it carefully. There’s a good chance some erroneous entry/entries have found their way in. When you do find them, take note of the date and particulars.

3. Inform the credit bureau and file for a dispute.
You are entitled by law to challenge any inaccurate or incorrect information on your report. The credit bureau should then investigate the item/s. If in case they fail within a specified period of time, the wrong information should be erased from your file. The credit bureau can also correct the erroneous entry and send you or anyone who has requested for your credit report a corrected copy.

4. Work with your creditors.
If your credit rating remains low after this, negotiate the terms of your loans to your creditors. You can then rebuild your credit rating gradually from there.

[image from rhettphone]