How to Remove Broken Lease from Credit Report
Having a broken lease on your credit report can negatively impact your credit score and make it difficult to secure housing in the future. However, there are steps you can take to remove a broken lease from your credit report and improve your creditworthiness.
1. Check your credit report: The first step in removing a broken lease from your credit report is to obtain a copy of your credit report from all three major credit bureaus – Equifax, Experian, and TransUnion.
2. Review the lease agreement: Look at the terms of your lease agreement to understand why the lease was broken and if there were any violations on your part.
3. Communicate with your landlord: Reach out to your former landlord to discuss the broken lease and see if they are willing to remove it from your credit report.
4. Settle the debt: If there is outstanding debt associated with the broken lease, try to negotiate a settlement with your landlord to pay off the debt in exchange for removing it from your credit report.
5. Write a goodwill letter: Draft a goodwill letter explaining the circumstances of the broken lease and why it should be removed from your credit report. Send this letter to both your landlord and the credit bureaus.
6. Dispute inaccuracies: If there are any inaccuracies in how the broken lease is reported on your credit report, file a dispute with the credit bureaus to have them corrected or removed.
7. Wait for it to fall off: In some cases, negative items such as broken leases may fall off your credit report after seven years. If you cannot get it removed sooner, you may have to wait it out.
8. Seek legal assistance: If you are unable to remove the broken lease on your own, consider consulting with a credit repair attorney who can help you navigate the process.
9. Build positive credit: While working to remove the broken lease from your credit report, focus on building positive credit by making timely payments on your other obligations.
10. Monitor your credit: Keep a close eye on your credit report to track any changes and ensure that the broken lease has been removed.
11. Consider a credit counseling service: If you are struggling to manage your debts and credit issues, a credit counseling service can provide guidance on improving your financial situation.
12. Be patient: Removing a broken lease from your credit report is not always a quick process. It may take time and persistence, but it is possible to improve your credit score over time with dedication and effort.