Why you should dispute derogatory listings with credit bureaus

Derogatory items are required to be removed from your credit reports after seven years. This law is designed to help consumers recover from their own credit mistakes and give them the opportunity to rebuild their credit rating.

After checking your credit reports, it is important to know that if you find charged-off accounts appearing on your credit report after seven years, you will need to dispute that derogatory listing with the respective credit bureaus.

Debt purchasing firms have been known to report inaccurate charge-off dates so as to extend the amount of time an old account appears on your credit report. This keeps this derogatory information "in play" so to speak, allowing collection aagencies to hound you for money that rightly should not appear on your credit history.

Erroneous information such as this ought to be what you dispute first. Determine where to write your credit dispute letter and follow the free tips on our website: http://www.findhow2.com/credit-letters.

The Federal Trade Commission website offers a free how-to article called "How to Dispute Credit Report Errors" which provides solid steps to take to clean up your credit.

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