NICK WILSON: HOW TO REMOVE HARD INQUIRY FROM YOUR CREDIT REPORT

Getting a payday loan or installment loan with soft credit checks and paying it off on time might improve your credit rating. Hard credit inquiries leave a mark on your credit report that could stick up to 2 years. Especially if you apply for too many credit products within a short period, hard checks could damage your rating severely.

In this review, the founder and CEO of AdvanceSOS, Nick Wilson, shares his knowledge of removing the mark of hard inquiry from your credit check. As a financial expert with years of experience in financial advice and the splendid service of connection with lenders, he gives hard inquiry removal tips for high credit scores. 

A few words about loan connection service AdvanceSOS, founded by Nick Wilson in 2019. Its easy and fast application connects you with a legit lender that won’t require hard checks to get a same-day loan at Advance SOS within 24 hours to handle your financial emergency. A same-day deposit payday loan is a short-term, high-interest loan that can be used to cover unexpected expenses or bridge a temporary gap in finances. This type of loan is convenient for those who need access to funds quickly.

Keep reading this guide from Nick Wilson to understand how to remove the hard inquiries you might not have known existed in your credit report!

Nick Wilson:

The first thing to know is how to check the list of hard checks conducted by the lenders to see if there’s anything that might seem like an unauthorized check. You can file a dispute in this case and remove the hard inquiry that you didn’t allow for from your credit report.

Here’s a list of steps to take for achieving this goal:

• Occasionally take a look into your credit report
• Look for any unauthorized inquiries
• Report unauthorized and take legal action
• File a dispute to major credit bureaus
• Get the inquiry that you didn’t allow removed

You can even file a letter of dispute online, or do it physically if you prefer to. According to the law, credit bureaus are obligated to inform you that a lender is trying to perform a hard check. If you weren’t aware of the check, you can use it to your advantage when removing the inquiry from the report.

You can’t remove the hard inquiries that you agreed with, but you can erase the checks that were provided without your knowledge. Another thing to have in mind is that not all the companies will be listed in their full name when conducting the hard check.

You might see the inquiry from the bank or third-party that the company uses which could confuse. So, it’s always simple and convenient to occasionally take a look into your credit report to check for unwanted inquiries.

Before getting into the ways of removing hard inquiries, it’s important to understand the difference between soft and hard checks. A soft inquiry is conducted by a lender that doesn’t need your approval as it won’t leave a mark on your credit score.

You can have several soft inquiries provided in a short period and it won’t leave any effect on your rating. It’s even possible to do it yourself if you wish to take a look into your rating and history. On the other hand, a hard inquiry is what major lending companies conduct to make sure that you are capable of repayment on time.

Hard checks usually stay on your reports for 2 years before they are erased, and your rating will get lower with each one conducted. In other words, if a creditor sees a large number of hard checks in a short period, it might seem like you are in financial difficulties.

Most lenders won’t take a risk as they can see that you have applied to numerous different loans in this period. So, even a single unauthorized hard inquiry could negatively reflect your credit score, which is the main reason why you should look to avoid it.

There are several reasons why you should always try to remove unauthorized or fraudulent inquiries from your credit reports. First, it’s due to discussed effects it could make on your credit rating and the possibility to get further credit approvals.

Second, it’s important to investigate the reasoning behind the fraudulent hard checks that were conducted without your knowledge. You can file a complaint by filling out the dispute form and getting in touch with your legal team to discuss further steps to take.

Nick Wilson:

The first step in this process is to thoroughly investigate your credit reports before filing a complaint. You can make a soft check that won’t leave a trace on your credit history to avoid the further decline of your rating.

Next, make sure that the check truly is unauthorized, since some companies could partner with banks that might strike you as unfamiliar entities. Once you are completely certain that you didn’t approve of the provided check, you can file a dispute.

You can do it by sending an online form with major credit bureaus or freezing your credit for the period of inquiry. You can also do it in person, or by referring to support phone lines of the major credit bureaus.

You can file a dispute from the Federal Trade Commission to form your letter more accordingly if you plan on doing it yourself. Either way, the credit bureau should remove any hard checks that prove to be unauthorized upon your request.

Nick Wilson:

In the end, it’s important to learn from these situations as credit bureaus will do all in their power to remove a hard check that was fraudulent from your report. Still, you should make a lesson out of it and conduct soft checks yourself every once in a while to prevent future unallowed checks.

Hopefully, this guide was helpful enough to let you get future loans easily without any negative references provided by hard checks!

About the Author

Amanda Girard leads the copywriting section for the best articles on AdvanceSOS. Her contribution can be seen through posted articles and valued customers that recognize the importance of our service. She has been a member of our team since the site’s inception in 2019 and remains one of the most important persons for the site.