Removal of Credit Inquiries
Credit Inquiries are used by financial lenders to assess credit risk or deciding whether to extend credit to the borrowers. Whenever a credit inquiry is made, your scores go down. When your credit score is low; it becomes difficult to acquire loans. There are means of removing inquiries from your credit report before the normal 2 years period. It does not matter whether there is negative information or not in your account. What matters is the verification of the item.
There are two types of credit inquiry. The first type is the soft inquiry. Soft inquiries does not reduce your credit score. When you request for your credit report in accounts for the soft inquiry. Another type of credit inquiry is the hard inquiry. This type of inquiry has an impact on your credit score, and all creditors can see it. Getting loans or other types of financing is tough when you have a lot of hard inquiry. Removing your credit inquiries from the credit report will improve your credit score and the creditors will not hesitate to lend you the financial assistance you need.
The first step to start repairing your credit is by going through the credit reports from the three credit bureaus. Look at both the soft and hard inquiry section. The next step is questioning the reports when you find a problem with you credit inquiries. After identifying the negative item in your report, write a dispute letter to the bureau. Once the bureau gets the dispute letter, they will start investigating the item. Make sure you send the letter of dispute using a mail that has been registered to get a delivery feedback. The confirmation of the delivered letter will be a legal proof against the bureau if they don’t respond to you in a timely manner. The law protects the consumers by ensuring that the bureaus investigate and remove unauthorized items from their credit reports.
It is not difficult to learn how to remove credit inquiries. There are fraud companies who are after your money in the name of removing your credit inquiries. With some few learning, you can get your credit card fixed.
If you find it challenging to write the dispute letter, use the internet to help you. Look for a website with the credit repair guide and download it. You can then remove the credit inquiries by the help of the credit repair guide. Credit repair companies have professionals who are specialized in credit repair, seek their help also. The expert can help expedite the problem and save you time and energy dealing with the creditors on phone and through letters.