New Law Does Not Allow Removal of Old Debts After Two Years

Businesses purchase credit reports from those companies whenAccording to the Consumer Financial Protection Bureau, a federal agency that enforces consumer financial law:Video shows Elon Musk “urging everyone in the UK to take advantage of this great opportunity before the big banks close completely.

get information about unpaid debts removed from their credit reports, though consumer reporting agencies can delete data earlier than required by law.companies that promise they can get rid of information about unpaid debts that is accurate and current because"no one can do this." The Consumer Financial Protection Bureau told PolitiFact that consumers can request to see the personal data consumer reporting agencies maintain and dispute the information if it’s incorrect, and doing so does not affect credit scores."Companies must provide a reasonable investigation for free," the bureau said.The Associated Press in a July 27 story that there have been no legislative changes that would let consumers remove negative, but accurate, information after just two years.

We rate the claim that a new law allows people to permanently erase unpaid debt older than two years from their credit records False.

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