{"id":15941,"date":"2025-05-06T14:44:49","date_gmt":"2025-05-06T20:44:49","guid":{"rendered":"https:\/\/www.lexingtonlaw.com\/blog\/?p=15941"},"modified":"2025-05-14T16:27:42","modified_gmt":"2025-05-14T22:27:42","slug":"remove-closed-account-from-credit-report","status":"publish","type":"post","link":"https:\/\/www.lexingtonlaw.com\/blog\/finance\/remove-closed-account-from-credit-report.html","title":{"rendered":"3 ways to remove a closed account from your credit report"},"content":{"rendered":"\n
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The information provided on this website does not, and is not intended to, act as legal, financial or credit advice. <\/em>See Lexington Law\u2019s editorial dis<\/em><\/a>c<\/a><\/em>losure for more information.<\/em><\/a><\/p>\n\n\n\n

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Quick answer: These are the three main ways to remove closed accounts from your credit report: dispute any inaccuracies, send a goodwill letter requesting removal or wait for the closed accounts to be removed after enough time has passed.<\/h2>\n<\/div>\n\n\n\n

Closed accounts can be removed from your credit report in three main ways: (1) dispute any inaccuracies, (2) write a formal goodwill letter requesting removal or (3) simply wait for the closed accounts to be removed over time.<\/p>\n\n\n\n

That said, removing closed accounts can affect your credit score, so make sure you consider your situation before taking any action.<\/p>\n\n\n\n

It\u2019s not always possible to remove a closed account from your credit report, but you can attempt to do so if you\u2019d like. However, it\u2019s not always beneficial to remove closed accounts, and in some cases, it could even lower your credit score<\/a>.<\/p>\n\n\n\n

In general, you should try to remove any closed accounts with inaccurate negative information<\/a>, but you probably shouldn\u2019t touch any accounts that are having a positive effect on your credit history<\/a>.<\/p>\n\n\n\n

Below, we\u2019ll talk about whether you should try to remove closed accounts from your credit report, how closed accounts may affect your credit score and how to remove closed accounts.<\/p>\n\n\n\n

How to remove closed accounts from your credit report <\/h2>\n\n\n\n

As we mentioned, you can attempt to remove closed accounts from your credit report<\/a> by disputing inaccurate information with the credit bureaus<\/a>, writing a formal \u201cgoodwill letter\u201d to request removal or simply waiting until the account is removed after a period of time.<\/p>\n\n\n\n

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Read on to learn more about when to try each of these different methods for getting a closed account off your credit report.<\/p>\n\n\n\n

1. Dispute inaccurate information<\/h3>\n\n\n\n

If a closed account on your credit report includes inaccurate information, you can dispute the information and potentially get the item removed from your report.<\/p>\n\n\n\n

How to dispute inaccurate information:<\/h4>\n\n\n\n
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  1. Send a letter to the three major credit bureaus\u2014TransUnion\u00ae, Experian\u00ae and Equifax\u00ae\u2014that explains what information you are challenging, why you believe it is inaccurate and that you would like it removed.<\/li>\n\n\n\n
  2. Similarly, send a letter to the financial institution that provided the information to the bureaus.<\/li>\n\n\n\n
  3. Wait for responses, then check your updated report and score after a month or more has passed.<\/li>\n<\/ol>\n\n\n\n

    We have a guide that details the dispute process<\/a> to help you along the way.<\/p>\n\n\n\n

    2. Write a goodwill letter<\/h3>\n\n\n\n

    A goodwill letter<\/a> is a formal request to a creditor asking for a negative item to be removed.<\/p>\n\n\n\n

    Although creditors are not required to remove negative items upon request, they may be willing to do so if you have a long history with them or if there were special hardships that led to the negative item.<\/p>\n\n\n\n

    However, goodwill letters are generally useful only for late or missed payments rather than more significant negative items like collection accounts<\/a> and repossessions<\/a>.<\/p>\n\n\n\n

    In addition to goodwill letters, you can also request that an account is removed using a pay for delete letter<\/a>. These letters can lead to an agreement with a collection agency to remove an account in exchange for a partial or full payment.<\/p>\n\n\n\n

    That said, the collection agency may decide not to remove the account, and the original account that went to collections may remain on your report.<\/p>\n\n\n\n

    3. Wait for the closed account to be removed over time<\/h3>\n\n\n\n

    No items stay on your report forever, so it\u2019s possible to simply wait for a closed account to be removed on its own. Items on credit reports, including accounts that have been closed, can remain on a credit report for around seven to 10 years.<\/p>\n\n\n\n

    So if you\u2019re worried about an older closed account with negative information that is potentially lowering your score, know that eventually it will drop off your credit report. Positive information about closed accounts also leaves your report after enough years have passed, so it\u2019s important to continue to practice good credit habits<\/a> with a variety of account types.<\/p>\n\n\n\n

    Should you remove closed accounts from your credit report?<\/h2>\n\n\n\n

    You should attempt to remove closed accounts that contain inaccurate information or negative items<\/a> that are eligible for removal. Otherwise, there is generally no need to remove closed accounts from your credit report. Inaccurate information could be hurting your credit score and should be addressed, but older accounts that show responsible credit usage may be helping your score.<\/p>\n\n\n\n

    Even after closing an account\u2014like a personal loan or credit card\u2014the information related to your balances and payment history stays on your credit report<\/a> for many years. Accounts closed in good standing may stay on your report for up to 10 years, while accounts with derogatory marks, like collection accounts, may remain on your credit report for up to seven years.<\/p>\n\n\n\n

    Deciding whether to try to remove a closed account ultimately comes down to understanding the factors that affect your credit.<\/p>\n\n\n\n

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    Your FICO\u00ae credit score, the score lenders typically check, is calculated based on five main factors<\/a>:<\/p>\n\n\n\n