Removal of Credit Inquiries
Credit inquiries are used by a bank or a company to check your credit report when you have applied for a loan or a credit card. Whenever a credit inquiry is made, your scores go down. Getting financing can be hard if you have a low fisco score. There are means of removing inquiries from your credit report before the normal 2 years period. The type of information in your account does not matter. What matters is the verification of the item.
There are two types of credit inquiry. Soft inquiry if the first type. Soft inquiries does not reduce your credit score. An example of soft inquiry is when you or an institution asks for your credit report from the credit bureaus. Hard inquiry is the next one. Your credit scores are lowered by hard inquiries on your credit report. 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 thing to do to remove your credit inquiries is to request your credit reports from the bureaus and keenly assess each item. 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. To get the evidence of delivery, use a registered mail to send the letter of dispute to the bureau. 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.
Repairing the credit report and improving your fisco score by yourself is easy to learn. 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. You can improve your credit score by downloading a credit repair guide from the internet. 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.