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HomeCredit ForumCredit repair

Anyway to ask a lender to removed an authorized inquiry?

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CMBV22

CMBV22

Joined: 08 May 2008
CMBV22's page
Posts: 364



3752 Magic Points
 
 Posted on Mon May 19, 2008 6:42 am  
Scott,

Isn't it also true that after 1 year of the hard inquirys 2 year lifespan, The inquirys effect on your score lessens?
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fireyone



Joined: 26 Feb 2008
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Posts: 1598



5136 Magic Points
 
 Posted on Mon May 19, 2008 11:53 am  
I would like to have the answer to this also.
 
CMBV22

CMBV22

Joined: 08 May 2008
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Posts: 364



3752 Magic Points
 
 Posted on Tue May 20, 2008 5:07 am  
I did some more research and found out that it seems to be true that Hard Inquirys loose their negative effect on your CR after 6 months to one year. Also, If you are shopping for a new car, home loan etc. The CRAs will consolidate those hard inquirys if you take a loan withtin 30 to 45 days *Different sources gave different time frames*
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Free sample letters,
info on paying off payday loans,
and quick credit repair tips.
Pesonalized credit repair advice in the forum:

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anthony

anthony

Joined: 31 Jul 2006
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Posts: 334



8619 Magic Points
 
 Posted on Tue May 20, 2008 7:31 am  
Hard inquiries are made whenever we apply for a new credit and it remains on the credit report for 2 years. This inquiry is bad as it indicates your credit hungriness. However, if you do not want to wait for two years you can order all the three credit reports and find the addresses of the credit inquirers from the report. Now you send letters to these addresses asking them to remove the inquiry. Since FCRA allows only authorized inquiries to appear on the credit report, you can always ask the creditor whether he has proper authorization to pull up your credit file. If it is unauthorized you can threaten them that you may complain to the State Banking Commission if they don't remove the inquiry. In most cases the creditors remove the inquiry from the credit report.

I am not sure whether or not the effect of any hard inquiry lessens after one year until and unless it is removed from your credit report.
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A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
 
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