воскресенье, 6 ноября 2016 г.

How To Remove Credit Inquiries from Your Credit Reports

How To Remove Credit Inquiries from Your Credit Reports

How To Remove Credit Inquiries from Your Credit Reports

Writing letters now. Hope this works!

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If you’re repairing your credit, once you’ve tackled the most pressing problems with your credit reports through debt validation, you may need to turn your attention to credit inquiries. Though they carry far less weight than late payments or collections, for example, credit inquiries can count against your credit score.

There are two types of credit inquiries:

1) Hard inquiries, made by potential creditors when you actively apply for credit

2) Soft inquiries, made by potential creditors who check your credit without your knowledge when considering you for a credit offer

You need not worry about the soft inquiries, as they do not count against your credit score.

Even if you can’t remember the last time you applied for credit, keep in mind that credit inquiries stay on your report for up to two years. So it’s likely you have more inquiries than you may easily remember over two years’ time. After all, it’s not just lenders for credit cards, home and auto loans who may check your credit, but also utility companies, cell phone companies, etc.

To try and have credit inquiries removed:

Locate the address of each inquiring creditor.

Write the creditor a letter requesting proof that you authorized the inquiry. Mail the letter Certified Mail Return Receipt Requested. Make note of the date they received the letter. If they do not respond within 30 days of receipt, they are required by law to remove the inquiry.

If they provide proof of your authorization, review the form you signed and, if appropriate, respond with an objection that the language of the authorization was too complicated for a layperson to understand. State that you will contact the State Banking Commission and complain about a deceptive and unclear authorization form if they do not remove the inquiry. Again, mail the letter Certified Mail Return Receipt Requested.

Beyond that, the best means of keeping credit inquires to a minimum is a simple one: keep credit applications to a minimum. If you have bad credit, you probably won’t qualify anyway. And even if you do, the number one goal during the credit repair process should be eliminating debt from your credit reports, not taking on the potential for more. While there will come a time when a new credit card will be ideal for adding positive credit to your score, that can and should come after addressing the negative aspects first

Original article and pictures take http://www.creditinfocenter.com/wordpress/2013/04/08/how-to-remove-credit-inquiries-from-your-credit-reports/ site

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