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. Getting financing can be hard if you have a low fisco score. You can get rid of inquiries from your credit report in time. Do not mind the information in the account. What matters is the verification of the item.
There are two types of credit inquiry. Soft inquiry if the first type. This type of inquiry does not affect your credit score negatively. An example of soft inquiry is when you or an institution asks for your credit report from the credit bureaus. Another type of credit inquiry is the hard inquiry. Your credit scores are lowered by hard inquiries on your credit report. Getting loans and credit cards from financial lenders is not easy with a lot of hard inquiries in your credit report. 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.
Start by analyzing each item on the credit reports from all the credit bureaus. Look at both the soft and hard inquiry section. If you find any item that you did not authorize or was incorrectly documented, challenge the reports. 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. To get the evidence of delivery, use a registered mail to send the letter of dispute to the bureau. You will use the delivery mail as proof in court in case the bureau fails to respond to your grievances. Failure of the bureau to investigate are remove inaccurate or invalid items from the credit reports of the clients is a legal mistake.
You have to know how to present your case to the bureau to successfully clear your credit inquiries from your credit report. You should be very careful with those companies who will charge you lots of money to remove an inquiry from your credit report. With a little knowledge, you can remove the credit inquiries yourself.
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. This will show you how to remove credit inquiries from your credit report. Consider hiring a credit repair company if you have other negative items on your credit report that need to be dealt with. The expert can help expedite the problem and save you time and energy dealing with the creditors on phone and through letters.