Myth 1: Information in your credit report cannot be changed. FALSE - The Fair Credit Reporting Act mandates that all three major credit bureaus make an effort to keep derogatory information off your report(s). Any misleading, inaccurate or outdated items MUST be removed under Federal Law.
Myth 2: Credit Bureaus are "required" by law to keep derogatory or negative items on your report for up to ten years. FALSE - There is now law that requires credit bureaus report "any" information about you.