How do you remove accurate derogatory items from my profile?

One of the questions I am asked a lot is “How do you remove accurate derogatory items from my profile?”

The question alludes to the premise that the item is accurate. 

What we (MCS) do is apply the laws that are already in place – The Fair Credit Reporting Act (FCRA), the Consumer Credit Protection Act (CCPA) and the Federal Trade Commission (FTC) rules that are already in place.

Let’s take a look at a parallel situation.  A person, driving, is pulled over for weaving.  The police are suspicious that they have been drinking.  But instead of taking a breathalyzer or obtaining blood to determine the blood alcohol content, they book you on Drunk Driving.  You go before the judge, you are not allowed to say anything, and the judge finds you guilty.  You now have a record.  Is this possible in our criminal justice system?

No, the Prosecutor has to PROVE it – weaving by itself is not proof.  The court would then dismiss the case if there is no proof.  Even if the driver had drunk a 24 pack in 3 hours, it does not matter – the State has to prove their case.

In the Credit system of reporting, that does not happen.  The bureaus collect the data and put it on your report without you even knowing about it!  Even though you may have “Accurate” information on the credit report, the bureaus, through the creditors that report to them, must maintain information that is not Outdated, Undocumentable, or unverifiable.

Verifiable – Technically, the credit bureaus correspond with the creditors and determine if the trade line is correct.  They are to receive documentation from the creditors proving the item and how it is reporting as correct.

 Accurate – Any item must be accurate.  If you have had a bankruptcy, each trade line on the credit report must be zeroed out.  If you have had a short sale, they cannot list it as a foreclosure.  If you have been late 2 times and they list 3 times, they must change it.

Obsolete - It cannot be obsolete – that is, beyond the legal time line.  Most items can only stay on a report for a maximum of 7 years.  Bankruptcies can stay on for 10 years. 

We find that a lot of items are untenable – that is, they are unverifiable, not documentable, or  are obsolete.  Thus, they must come off!

The burden of proof is on the Bureaus and the creditors.  You do not have to prove your innocence, they must prove your guilt.