Despite a TikTok video’s claim, there is no new federal law that lets people erase unpaid debt information from credit records.
Credit reporting agencies are required by law to remove most information about unpaid debt from a person’s account afterPeople acting on their own generally
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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