This really depends on your individual circumstances and I would recommend you review your situation with a qualified attorney as noted below.
Be that as it may, in some instances a small claims lawsuit is highly effective for getting an item removed from your report even if you don't have the right to bring it. The banks often don't want to spend money on sending an attorney.
My response does not constitute legal advice and we do not have an attorney/client relationship. You may contact me for more information at 845-290-9678 or at firstname.lastname@example.org.