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Inaccurate and derogatory information on your credit report can lower your scores significantly. That information may indicate fraud, but it also may indicate the presence of too many hard inquiries. To get the negative marks removed and improve your credit scores, it’s important that you have your profile analyzed and hire a professional to dispute credit inquiries on your report as soon as possible.
A good credit inquiry removal service can do a lot for the condition of your creditworthiness. While it’s possible to do the work yourself, allowing a team of experts to do it for you is advantageous for at least 5 reasons:
Professionals know how to create effective credit inquiry dispute letters.
Professionals understand which inquiries to focus on most.
Professionals aren’t intimidated by stubborn creditors.
Professionals can continue disputing the inquiries until they get removed.
Professionals can answer any questions you have along the way.
In fact, there isn’t much that a professional credit inquiry removal service can’t do, besides take the first step towards better credit health for you. Indeed, it’s up to you to get the process started before those hard inquiries take their toll on your credit scores. The first step is understanding what a credit inquiry is (and isn’t) so you can distinguish between the problem and the solution.
What Is a Hard Inquiry?
It’s easy to see why to take advantage of a credit inquiry removal service when you understand what a credit inquiry is and how it affects your credit report. Put simply, a credit inquiry is a process used by lenders, businesses, and individuals to verify your creditworthiness – a.k.a., your ability to repay some type of loan or line of credit. Each time you apply for financing of any sort, an inquiry is made. When that inquiry is made, a small number of points are deducted from your credit score (usually an average of 3 to 5 points per inquiry).
Most inquiries show up your credit report as “hard pulls,” but some are soft pulls. Only the hard inquiries should cause concern, as soft inquiries do no damage to your scores. A professional will know the difference. Furthermore, hard inquiries are the ones that get reported to all three of the major credit bureaus (Experian, Equifax, and TransUnion), so it’s important to keep track of how many you rack up. In fact, having too many over the course of just six months can lower your scores dramatically.
When those hard inquiries find their way to your credit report because of fraudulent activity, it’s especially frustrating. While those types of unauthorized credit inquiries are much easier to delete, even inquiries created by your own requests for financing can be erased with the right approach. In general, a credit inquiry removal service can clean your credit report in as little as 6 to 12 weeks by pinpointing the problem and using an industry-standard technique. If you’re lucky, the best inquiry removal service will continue disputing each inquiry until it gets deleted.
How You Effectively Dispute Credit Inquiries
It’s always best to begin the disputing process as soon as you spot any potential inaccuracies on your credit report. The fastest and easiest way to resolve the problem is to write a formal letter to the lender(s) who have a file on you. Better yet, have that letter written and submitted on your behalf.
Upon receipt of your dispute, the credit bureaus contact the company reporting the information you disputed and supply them with all the relevant information along with any pertinent documentation. Then, the bureaus instruct those companies to review your profile, verify the information in your report, provide a timely response, and update the systems accordingly. All major credit bureaus are fallible, and the process of disputing hard credit inquiries isn’t as easy as it sounds. There may be mistakes on your credit report even after you successfully send dispute letters. Based on the information you provide, appropriate changes may be made. However, that is never guaranteed.
Investigations are typically concluded within 30 to 45 days of the date that the dispute was filed. Still, it’s wise to allow for at least 90 days for full removal. You might get notified when the changes are made, but only when you hire a professional will you receive a timely and comprehensive response along with a fully updated credit report. Whether you submit disputes online or through hand-written letters will also determine the speed with which your case is handled. While online disputes are often handled more quickly, hand-written disputes are taken more seriously because they must go through official first-class mail service and aren’t subject to potentially faulty online databases.
How to Find the Best Credit Inquiry Removal Service
To make the most of your efforts, it’s vital that you hire the best inquiry removal service you can find. Getting inquiries removed from your credit report isn’t easy and it takes a lot of work, so the ideal company to help with removing those inquiries from your credit report will feature the following benefits:
A free credit analysis before you submit any disputes. This service should be given without any obligation to purchase services but may require you to sign with a third-party to get up-to-date credit report information from all three of the major bureaus.
A 100% success rate on all qualified inquiries that get disputed
Accepted payments from all major credit cards
A competitive price guarantee
24/7/365 customer service agents who are willing and able to answer your questions about the process
Bonded and insured services that give you peace of mind
A proven track record, complete with numerous client testimonials
Several examples of proven client results – a before and after picture for you to consider
Connections with a large network of reputable lenders who can get you substantial lines of credit after your report is cleaned up
An optional yet comprehensive credit monitoring program
A potentially lucrative brokerage program wherein you can become a franchisee who helps others that are struggling with their own financial problems
The company you’re working with to remove credit inquiries should offer most, if not all, of those perks. If they don’t, then you’d be best served by going somewhere else.
This article was written for Grand Teton Professionals for Inquiry Busters. For Credit Repair Solutions and Support, please contact us at 203-599-4157 or email us at Support@InquiryBusters.com. For Media Relations, please contact Misty.Burrell@GrandTetonProfessionals.com