IT ALL DEPENDS!
The appearance of inquiries on your credit report can be alarming, but they may not have the impact that you think. The message to credit repair clients should be, if you don’t need your good credit back quick, don’t worry about those inquiries, and do not apply for new credit! Unless you have joined a credit repair service entirely because of inquiries, chances are that there are other issues of more gravity than inquiries alone.
Credit Report Repair, Bad Credit Repair
The first thing you need to know is there are two types of inquiries:
- Inquiries that show up when you did not give permission, ie collection agencies, creditors reviewing your credit for increases or decreases in your line of credit, insurance companies are examples.
- The second type, are the inquiries generated when you apply for credit. That is, fill out that credit application on paper, over the phone or online. These inquiries are the ones that are hard to get off your credit and they are the inquiries that affect your credit score.
Inquires can continue to report for up two years, but the impact that they have on your credit scores usually fades quickly, and once they are over six months old they have a negligible effect. This doesn’t mean they can’t sill hurt your scores. You should work diligently to remove the inquiries as you work on your other negative items on your credit reports. By law, inquiries cannot stay on your credit report for more than two years but are only used in calculating your credit score in the first year. You really need a good credit repair company that knows what they are doing. They then mail those consumers a pre-approved or pre-qualified credit offer.
Professional Credit Report Repair or Bad Credit Repair
There are two reasons why you should consider hiring a professional credit repair agency to help you. Quality credit industry professionals, especially law firms, have access to software that runs mathematical equations similar to the credit bureaus equations, except in reverse, to determine the optimum levels of credit limits against balances, types of accounts to maintain as open, length of time to keep accounts open, etc. With a good law firm as your credit restoration company, it can be determined the precise number of new accounts to open, with the exact credit limits and balances to maintain to optimize the score.
Bad Credit Repair, Reason Two
Another reason you need a good law firm, as apposed to a credit repair company, are that law firms have the resources, both knowledge of the law, and the ability to notify the credit bureaus that YOU MEAN BUSINESS when it comes to your bad credit repair. Something regular credit repair companies could never offer you. Additionally, law firms prices are in the same range as the regular bad credit repair companies. So why not go with the best, a law firm? I personally like Lexington Law. They have been around a many years, their lawyers and they do put the Law on their customers side. Let a Law Firm Remove your Negative Items from your Credit Report!
Credit Report Repair, Conclusion
If you would like to know more about bad credit repair law firms such as credit repair or bad credit repair programs and what you can do to restore your good name, click this link: Raise your FICO score.
For a list of what we consider the TOP Bad Credit Repair companies, visit us by going to Clean Credit Company. We are not a credit repair company. We offer suggestions, advice, knowledge and ideas for you to consider in helping you along your way to a clean credit report through credit repair, bad credit repair or credit report repair.