Credit Repair Questions & Answers

Credit Inquiries

I have found a ton of inquiries on my credit report, how much are they hurting my score?

Inquiries can lower your score between 1 and 5 points depending on the overall content of your report. The more established your credit, the less of an impact a single inquiry will have. And there are some cases where inquiries have no impact at all. Read More »

How much will an inquiry hurt my scores?

Many people starting credit repair programs express concern over inquiries. There are some cases where inquiries can have a considerable impact on your scores and other cases where they have none. Read More »

I went shopping for a car about a month ago and now I have about 20 inquiries, can you get rid of them?

It can be shocking to see the avalanche of credit inquiries that can show up after a day of auto shopping. But there is good news. The FICO credit scoring model is structured to allow rate shopping for both automobiles and mortgages. Both are treated in a special way that will spare your credit scores and negate the need for credit repair. Read More »

Credit Repair and Inquiries

Our message to our credit repair clients is generally, don’t worry about those inquiries! Unless you have joined our credit repair service entirely because of inquiries, chances are that there are other issues of more gravity than your inquiries. Our goal is to get the most significant impact from each month of work. We examine every credit report carefully and prioritize the items that we will dispute, so unless your situation is very unusual your inquiries will not be at the top of the list.

Inquires can continue to report for up two years, but the impact that they have on your credit scores fade quickly, and once they are over six months old they have a negligible effect. And here is an additional fact that might help your perspective. Both mortgage and automobile inquiries get special treatment. In order to facilitate intelligent rate shopping the FICO credit scoring model has been programmed to allow for an unlimited number of mortgage and automobile inquiries within a 45 day period. In addition, these inquiries cannot impact your score for 30 days.

So, if you went shopping for a car or mortgage and later found an avalanche of inquiries on your credit report don’t panic. This is a normal occurrence and does not require any credit repair. Having said this, if you have concerns you should always voice them! And if you discover inquiries that you do not recognize it may be an indication that your identity has been compromised and immediate action is called for. When it comes to credit repair a level head will always prevail, but vigilance is always well advised.

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