The credit bureaus want consumers to believe that they cannot repair their credit without waiting 7 to 10 years for negative items to be removed automatically from their credit reports. This is not true. The Fair Credit Reporting Act (The absolute authority governing how information should be reported) says that if the items on your credit report aren't reported 100% accurate, 100% verifiable and 100% timely by the creditors, a reasonable investigation should be conducted and the item must be removed from the report. Approximately 79% of all credit reports contain errors and some are serious enough to keep consumers from getting approved. If the information on a credit file can't be verified then it must be removed! Often times when accounts are closed, charged-off or discharged the creditors do not have the supporting evidence to verify the legitimacy of an account within the 30 day time line they're given. This can result in deletions that can benefit your credit score!
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