Accurate and timely information cannot be removed from your credit report, even if you have paid off a once delinquent debt. The fact that it is paid off is to your credit; however, the fact that the account was once delinquent is also true and can remain on your credit files from up to seven years.
Bankruptcy information can be reported for up to ten years. Information reported because of an application for a job with a salary of more the $20,000 has not time limit. Information reported because of an application for more than $50,000 worth of credit line or life insurance has no time limitation. Default information concerning a US Government insured or guaranteed loan can be reported for seven years after certain grantor actions.
Information concerning a law suit or a judgment against you can be reported for seven years or until the statute of limitations runs out, whichever is longer. No one can legally remove accurate and timely negative information from a credit report. The law does, however, allow consumer’s to request an investigation or reinvestigation of the facts and information in your credit file that you dispute as inaccurate or incomplete. There...
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