Did you know whenever a credit inquiry is done, your score goes down? Getting financing can be challenging if you have a low fico score. There are ways how to delete inquiries from your credit report before the normal 2 year time period. Whether any negative information is your account or not it does not matter. The most important question is, can the item be verified.
There a two types of inquiry.
The first type is known as Soft Inquiry. An example of this type is whenever you request a copy of your own credit report. It does not impact your credit score negatively.
The second type is known as hard inquiry. This does impact your fico score and all creditors can view it. If you have a lot of hard inquiry then you will have hard time getting loans or other type of financing.
It is very important to learn how to remove inquiries from your credit report before you apply for any financing.
The first step to start repairing your credit is by ordering all three of your reports. Once you check your report you will notice each bureau report will include an inquiry section. Now the inquiry section will include two types of inquiry, soft and hard.
The next step is to identify the items you want to challenge. Once you have figured out which inquiry is causing you problems, start with writing a dispute letters to remove negative credit from your report. Once the bureau receives your dispute letter they will investigate the item. Make sure to send your letter via registered mail so you can get a return confirmation that it was delivered. The bureau has to respond to your request in timely manner so this confirmation is a legal proof you have against them. The Fair Credit Reporting Act is legislation that congress passed to protect the consumer. This law says bureaus must investigate and remove inaccurate or unverifiable item.
You can learn how to remove credit inquiries from your credit report. You just need to know what to write, how to say it and who to send your request.
Beware of those companies who will charge you hundreds of dollar to remove an inquiry from your credit report. The Truth is everything a credit repair company can do for you legally, you can do for yourself. With little inside knowledge and some action you can get your credit fixed.