| A credit inquiry is done to verify who received your | | | | company in case they are not able to provide you with |
| credit reports and when. The credit agencies do keep | | | | proofs. All you have to do is make three copies of a |
| a complete track of who received your credit | | | | dispute letter and mail it to all the credit reporting |
| statement and for what purpose. Some inquiries do | | | | agencies. Then the authorities will need to act |
| reduce your credit score, but not in all cases. Some | | | | accordingly, inquire the lender and let you know about |
| inquires which are not a problem are Inquiries regarding | | | | all the details. In case the authorities fail to send to a |
| court orders, Order of your own credit report from | | | | complete report (called as 'willful noncompliance), they |
| authorities, applying for a job, applying for home | | | | are in trouble but this doesn't happen a lot especially in |
| owner's, auto or rental insurance etc. Inquiries that do | | | | the case of reputed companies. |
| have a negative effect on your credit score are | | | | Remedies to inquiry disputes |
| applying for a government license, allowing someone | | | | In case you report a dispute to the company and they |
| to access your credit, collection of debts. The credit | | | | fail to respond back and clarify their point, then you |
| score is calculated not only keeping in view the current | | | | have all the reasons to sue the company. One must |
| unpaid bills but the complete account history and | | | | keep a few things in mind before going on with this |
| accordingly they analyze whether their money with | | | | step like keeping a track of your credit scores just |
| you is safe or not and what more can be offered to | | | | before the incident and after it. This will definitely help |
| you. | | | | you claim the damages clearly and strongly. Say your |
| How much can a credit inquiry lower your credit | | | | disputed inquires cause you a reduction in your credit |
| scores? | | | | score from 580 to 568, the authorities will have to pay |
| Knowing that the credit inquiries have an adverse | | | | for it if you are able to prove their default in the case. |
| effect you will definitely try and evaluate what actually | | | | Even the company itself can track back the complete |
| the results are. There is no correct answer to this but | | | | information but its better for you to keep all information |
| one can make an assumption. Age factor comes into | | | | with you before hand. So if you are looking for a way |
| play here. A person with 60 years of credit history will | | | | to boost credit score ratings to provide you with a |
| be placed differently as compared to a beginner. | | | | much sounder financial base, you must follow the |
| Someone who has already faced a financial crisis will | | | | instructions. |
| be treated differently. According to the studies, | | | | One of the agencies has an on-line reporting system, |
| approximately 12 points are lost in case of bankruptcy. | | | | but it is not very user friendly. The window is tiny and |
| Unauthorized Inquiry | | | | in order to read a sentence, you have to scroll from |
| This is the case when somebody tries to access your | | | | left to right. The best way to notify the credit bureaus |
| report without your consent. These inquiries have the | | | | of your disputes is to send them a letter. Letter writing |
| worst effect on credit scores, so they must be | | | | suggestions are included in many books with credit |
| handled seriously and tactfully. If somebody tries to get | | | | repair tips. but you can view a perfectly usable |
| inquiry of your account you can write to the authorities | | | | example of a dispute letter at the Federal Trade |
| asking for a proof. If they are unable to provide results | | | | Commission's credit website. |
| you can post a conflict. You can even sue the | | | | |