How Dispute a Credit Inquiry

“The more, the merrier” saying does not apply to credit inquiries. Whenever you apply for credit, the lender obtains (inquires) a copy of your credit report from one or more of the three major credit bureaus (Equifax, Experian, TransUnion) The inquiry appears on your credit and it influences the calculation of your credit score. The only inquiries that affect your credit score result from your attempts to secure credit. Inquiries of your credit by employers have no bearing on the calculation of your credit score.

How Credit Inquiries Affect Your Credit Score

Credit inquiries contribute around 10% of your credit score. Recently opened credit accounts in different credit categories immediately diminish your credit worthiness in the eyes of lenders. However, lenders perceive installment loans such as home mortgages more favorably than they perceive new accounts like revolving credit cards. The number of credit inquiries over the past two years influences your credit score. This is important to note for consumers that apply for multiple credit cards over the holidays. Your credit score automatically decreases 12 months after a credit inquiry, but the inquiry remains on your credit report for two years. Prospective employers that meticulously examine your credit history ignore the credit score and place more emphasis on your recent credit history.

Is It Possible to Remove Credit Inquiries?

Our Lexington law credit repair firm helps clients improve credit scores by implementing strategies that include removing inquiries from credit reports. The first step we take involves requesting a copy of your credit report to examine every credit inquiry that appears at the bottom of the page. We consult with you to ensure every item that appears in the credit inquiry section is a credit request you have authorized. If you did not authorize a credit inquiry, we take immediate action to have the inquiry removed from your credit report. Businesses tend to respond more swiftly to credit inquiry disputes formally filed by attorneys.

Quick Response to Our Disputes

You can deal with unauthorized credit inquiries, but you can expect delays in the handling of your disputes by creditors and the three major credit bureaus. After you hire us to remove inquiries from your credit report, we immediately begin to correspond with each creditor by sending an initial email followed up with a certified letter in the mail clearly stating you never authorized the credit inquiry. To stop companies from performing unauthorized inquiries, we strongly urge our clients to order a freeze on their credit reports. A credit report freeze prevents lenders and creditors from receiving your credit information. Moreover, a credit report freeze prevents identity thieves from taking out loans in your name.

Our Lexington law credit repair firm helps clients navigate the choppy waters of restoring the faith of lenders. You might need our services only to dispute a credit inquiry. However, we also refer clients to credit repair companies that deal with credit issues more significant than inquiries. A credit repair professional can help you improve your credit score by interacting directly with lenders and creditors.