Derick Vogel, from Credit Absolute, discusses how Credit Absolute is able to dispute and, ultimately, get negative items removed from your credit report, thus increasing your credit score.
He explains how, thanks to the Fair Credit Reporting Act, we can dispute inaccurate information in your credit report. The Fair Credit Reporting Act requires that all information on your credit report is accurate but the credit bureaus won’t actually verify it until we dispute it. You could have paid off a debt years ago but it could still be showing up on your credit report, hurting your score, and they may never update it until it’s been disputed.
Derick goes on to explain that you can only remove inaccurate items. If there are valid debts or all information is accurate, you wouldn’t be able to remove the item. That being said, as Derick explains in the video, most credit reports have numerous inaccuracies and it’s very likely that many of the negative items on your credit report can be disputed and removed.
How Inaccuracies Can Occur
Further on in the video, Derick explains how some states have debt forgiveness after a certain number of years and how those debts may still be showing on your credit report. He goes on to explain how many debt collections will report the debt from the date they buy the debt even though the debt was started at a previous date. This can cause a debt to stay on your report much longer than it should.
He continues to discuss other ways that inaccuracies can occur as well as how an accurate account could simply be reporting incorrectly.
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