It’s a little known fact that credit bureaus are only allowed to list negative items on your credit report for seven years…well, bankruptcies are another story.
But for most accounts, after seven years, the credit bureaus will automatically delete the negative items from your credit report.
But what happens if that doesn’t happen? That’s where Rich Dad’s Credit Reset program can help!
Credit card companies must investigate items in question within a certain amount of time, typically within 30 days.
They also have an obligation to forward all relevant data about the inaccuracy to the company, person, or organization that provided the information.
After the information provider receives notice of a dispute from the credit reporting company, it must investigate, review the relevant information, and report the results back to the credit reporting company.
If the information provider finds the disputed information is inaccurate, it must notify all three nationwide credit reporting companies (Experian, Equifax, and TransUnion) so they can correct the information in your file.
Even if you’ve tried something like this in the past…