Finding Similarities Between Credit and Life

Removal of Credit Inquiries

Credit Inquiries are used by financial lenders to assess credit risk or deciding whether to extend credit to the borrowers. Your credit score is reduced whenever a credit inquiry is made. 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. It is important to verify the item first.

Credit inquiries is made up of two types. Soft inquiry if the first type. This type of inquiry does not affect your credit score negatively. For instance, whenever you request a copy of your credit report. Hard inquiry is the next one. 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. Removal of credit inquiries will enable you to be given finances without any difficulty.

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. Once you have seen the inquiry that is causing you problems, start with writing a dispute letter to remove the negative credit from your report. On receipt of the letter challenging the credit report, the bureau takes action by looking into the item in question. The dispute letter should be sent using a registered mail so that you can know the letter was delivered. 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. It is the requirement by law that the bureaus must investigate and remove inaccurate or items that cannot be verified.

All you need to know is what to write the dispute letter, how to say it and who you are supposed to send the letter. 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 have difficulties writing a credit dispute letter to remove inquiries from your credit report you can use the internet. 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. 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.

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