Doug's Credit Center Blog

How to Delete Paid Accounts From Your Credit Report

One of the most frustrating things a consumer may encounter is paid account showing up on their credit report. Accounts that show up on a consumer’s report regarding late payments, charge offs or other delinquencies may seriously affect a consumer’s credit report even if they are already paid. However, credit reporting bureaus are aware that sometimes mistakes happen and they will usually correct these mistakes fairly quickly. All the consumer needs to do is regularly pull their credit report so that they are aware of any mistakes that have occurred.


Quick Steps Towards Deleting Paid Accounts

  1. Document the fact that you have paid: Documentation can come in the form of proof of payment such as cancelled checks or bank statements or statements from the creditor themselves that state that you have paid.
  2. Have the reporting company fix the error.: Often the easiest way to fix an issue such as this is to get the company that made the mistake initially to fix the error. It is worth a try in the beginning, however some companies may not do this quickly enough. If you need to get it fixed quickly because you are intending to get a car loan or similar, you may need to take matters into your own hands.
  3. Write a letter, email or fax.: Your letter should include what the error is, how you want it fixed and all of the evidence you have. Ideally you should also have a letter from your creditor stating that it is paid off, but this is not strictly necessary.
  4. Check your account.: Look over the state of your accounts afterwards to see whether it has been fixed.

How These Accounts Affect Your Credit

Accounts that show as unpaid when they have already been paid will often affect your credit report for a long time. Sometimes these false delinquencies may affect your credit report for up to two years, and this can make it very difficult for you to get the best automobile loans, personal loans, credit cards or mortgage statements. It can even affect your ability to rent an apartment or get a cell phone.

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