Negative reporting in the Credit Bureau may affect access to loans, refinancing, credit cards or other financial services. In practice, not all reporting can be automatically removed, but many situations deserve legal analysis: misreporting, missing notifications, incomplete data, unupdated amounts, outstanding payments or cases where the bank can accept an amicable settlement.
Our law office assists with reviewing the report, drafting requests to the bank, non-bank financial institution or debt recovery company, and pursuing deletion, rectification or restriction of processing, depending on the circumstances.
Request a legal assessment of your Credit Bureau entry.
When the deletion or correction of reporting may be required
The deletion from the Credit Bureau may be considered where there are indications that reporting does not comply with legal conditions or does not correctly reflect the actual situation of the client. Common examples: reporting of a default without prior notice, maintaining unupdated data, recording a wrong amount, reporting a closed credit as active, reporting an error or refusing the institution to correct data after supporting documents have been submitted to it.
There are also situations where the solution is not based solely on a clear infringement, but on a communication and negotiation strategy with the bank. Some institutions may decide, in some cases, to correct, update or withdraw a reporting, even if the situation does not fit perfectly into a classic pattern of illegality. This approach depends on the creditor, the customer history, the documents available and the way in which the application is made.
What do we check before we start?
• whether the reporting belongs to a bank, IFN or a debt recovery company;
• the date of maturity, the date of the first default and the number of days of delay;
• whether there was a notification prior to the transmission of negative data;
• if the amount reported is correct and up-to-date;
• whether the credit product is still active, closed, assigned or refinanced;
• whether there are documents supporting the rectification or erasure of data.
How the service is carried out
The first step is the analysis of the credit report and existing documents: contract, maturities, notifications, payment evidence, extracts, correspondence with the bank or the assignee. After that verification, we shall determine whether a request for erasure, a request for rectification, a request for restriction of processing, a complaint to the operator or an amicable negotiation strategy is more appropriate.
Subsequently, we draw up the legal request in a clear, reasoned and adapted manner to the institution that reported the data. The aim is for the bank or IFN to understand exactly the problem, the documents on which the client is based and the requested solution: deleting, correcting, updating or withdrawing reporting.
What can the client get?
The result differs depending on the case. In some situations it can be obtained to delete negative reporting. In others, the realistic solution is to correct the amount, update the statutes of the account, delete misinformation or transmit an official response that the customer may use later. The service does not promise a guaranteed result, but aims to capitalise on all available legal and commercial arguments.
Why work with a lawyer?
A simple approach, sent without arguments and without documents, is easy to reject. A lawyer can identify the vulnerabilities of reporting, formulate the application in legal language and build a coherent file. In many cases, the difference is not only caused by the existence of a mistake, but by the way it is demonstrated and presented to the financial institution.
Frequently asked questions
Can you delete any reporting from the Credit Bureau?
No. Fair and legal reporting is not automatically deleted just because it is unfavourable. However, misreporting, not updated or transmitted in breach of the procedure may be challenged.
Can the bank delete the reporting even if all the classical conditions are not met?
In certain cases, the bank or reporting institution may accept an amicable settlement, correction or withdrawal of the reporting. It is not an automatic right of the customer, but a possibility to be considered and negotiated.
Does the payment of debt automatically lead to erasure?
Not always. Payment of the debt may update the situation, but it does not automatically mean removing the history. However, payment may help in a negotiation or rectification.
How long does the procedure take?
The duration depends on the institution involved, documents and complexity of the case. An analysis of the report is usually needed first and then the application to the operator who submitted the data.
