How To Remove Items From a Credit Report With Ease

How To Remove Items From a Credit Report With Ease

Posted on February 21, 2023

In situations where your credit limit is not where you expected it to be, this is probably due to the negative items on your credit report, which reduces your credit score.

When it comes to the financial aspect of your life, your credit report has a way of influencing it in a big way, as our auto loans team explains.

Removing items from your credit report, such as overdue bills, closed credit accounts, and repossessions, depends majorly on two factors, which are how serious the negative item was and the length of your experience using credit.

Let’s take a look at how to remove items from your credit report in 2022.

Consult a professional

When it comes to removing negative items from your credit history, there are various independent agencies for credit repair in Canada.

By making use of their in-depth understanding of the Canadian credit system, they are able to help remove certain negative items from your credit history.

However, you should note that there is no assurance that these professionals will be able to fix those negative items.

Wait it out

This might not be the most appropriate way of eliminating the negative items affecting your credit limit, but it is a legal way of removing those negative items.

With each particular item, there is a specified time frame in which it expires. For collections accounts, you might be reported on your credit score for about 7 years.

Bankruptcies are treated quite separately, and this is dependent on which credit bureau is reporting your credit score.

Therefore, in cases where you have had issues with your credit in the past but have been able to sort it out, you should check out your credit history to see what other items you need to eliminate quickly.

File a dispute with the credit agency

By taking a closer look at your free yearly Canadian credit history, there’s a probability that you will discover some reporting errors, such as a past credit card that is still listed as delinquent even after you have settled the entire account and eventually closed it.

When you notice any such errors in your credit report, you can decide to challenge them through Equifax or Transunion, as the creditor must respond within a period of 30 days.

In addition, you must provide proof of your claims. If your claims are right, the negative error will be entirely removed from your credit history.

File a complaint with the Financial Agency of Canada

Upon noticing any errors or wrong information on your credit history, you may be able to remove items from your credit report by contacting the financial consumer agency of Canada.

Fill out a form to dispute both errors from credit card companies as well as financial companies.

Going ahead and filing a complaint is one way to get the creditors' attention.

Having bad credit can be quite challenging to handle, but it’s not something that should weigh you down.

By following these guides, you will be able to understand how to remove negative items from your credit score and also improve it.

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