There are NO laws that say credit information must be reported in the first place. There are also NO laws that say the credit bureaus have to even exist. Finally there are no laws that say credit report information has to remain for a set period of time.
As a result, accurate and truthful information can be removed from the credit report legally if it is not verifiable, not within the allowable reporting periods or not being reported with 100% accuracy.
If you take a look at the Fair Credit Reporting At section 609 (c)(2)(e) says …”a consumer reporting agency is not required to remove accurate derogatory information from a consumer’s file, unless the information is outdated under section 605 or cannot be verified.” Notice it says “is not required to remove.” It does not say “cannot be removed.” The FCRA only places LIMITS upon how long items can remain on reports.
If you look around on the internet you may find conflicting information about removing accurate information. This is because FTC and the credit bureaus spend BIG money trying to convince consumers otherwise. Why you ask? Because handling dispute letters costs lots of money on labor costs. They have to pay employees to handle disputes. So, if they convince consumers that they are powerless, people won’t bother to dispute in the first place.
The one thing I have to warn you about is making false and untrue claims. The Credit Repair Organization Act (CROA), which regulates your credit repair businesses, says…” Do not make any statement, or counsel or advise any consumer to make any statement, which is untrue or misleading.” With that said, it is still possible to remove accurate information without telling lies.