Simple Ways to Remove Hard Inquiries From a Credit Report (Daniel's Tip of the Month #1)

Okay, today I'm going to show you how to delete hard inquiries from your credit report. See, lately I've been getting a ton of questions on how to remove hard inquiries from a credit report. So I thought I'd make a little video to answer it for you. And it's really, really easy. Okay? But before I jump into it, if you want to know more about disputing techniques and even get certified in disputing, all for less than it would cost to take your family to McDonald's, well, then click the link below in this video's description and join our credit Hero challenge today. Okay, let's dive in on how to delete hard inquiries from your credit report. So, first thing to remember is there are two types of inquiries. There are hard inquiries and soft inquiries. Okay? A hard inquiry is when a lender requests your report as part of a loan or a credit application. And this type of inquiry, it stays on your report for two years, but it only impacts your credit score for 12 months. Isn't that awesome? So what that means is if the inquiry is older than 12 months, you don't need to worry about that inquiry at all, okay? You don't have to waste your time on it because it has zero effect on your credit score. Whereas a soft inquiry, that's when someone accesses your report, but they don't necessarily intend to loan you money or extend credit to you. And these soft inquiries, they aren't always associated with a credit application. For example, it could be your existing creditor checking on your credit health or some other reason. But the most important thing to understand is that soft inquiries do not impact your credit score at all, okay? They are simply a record of who requested the information. So if it is a soft inquiry, it has zero effect on your credit score. Now, if you or your clients have a lot of recent hard inquiries that are dragging down their credit scores, here is exactly what you can do about it. First thing is you need to work, and this is very important, you really need to work first on removing any and all conflicting personal information. And what I mean by that is you want to dispute all of the misspelled names, aliases, the old addresses, the incorrect and outdated employment information, wrong date of birth or social, and anything else that appears in the personal information section of the client's report that is not correct. Okay? And here's why this is important. The personal information, you know where it comes from. It comes from these inquiries. That's right. Every time your report is pulled, the information from that application gets added to Your report and it's tied to those inquiries that you want to remove. See, the people that are filling in and submitting your applications, they make a lot of clerical errors, which is the cause for all the discrepancies that you find in the personal information section of your report. Okay? So by just removing the bad personal information, then you have a much better shot at getting those inquiries that are tied to them deleted. Okay? And then next, after you've done all that, next you need to challenge the hard inquiries themselves. Now again, remember, you only dispute the inquiries that are less than 12 months old because if they're older than a year, they don't impact your scores. And remember, this is the same of soft inquiries, okay? They don't impact credit scores either. So disputing them is a total waste of time. But here is the most important thing to remember when disputing inquiries. This is very important, so pay close attention here. It is very important that you never ever, ever dispute inquiries that are tied to open pre existing accounts or accounts that your client just applied for that they really want. Like with a creditor that may have an open application. And this is because the dispute on that inquiry, it may cause an automatic denial on that application. Or even worse, it could result in an open credit card account suddenly getting closed without any warning and that would lower the score a lot. Okay, so what you want to do is just check to see if the client has any open credit that's associated with each inquiry that you are planning to dispute. Okay? Because you don't want to dispute inquiries from any accounts that are currently open and in good standing. Now when you do start to challenge the inquiries, you do this simply with a round one letter that you send to each of the three bureaus. Okay? The round one letter is where you always start. It's a very simple letter. It goes to the three bureaus and basically you can find it when you log into your credit repair cloud account and choose round one from our letter library or from the Wizard. And then you fill out the reason and instruction for the bureaus and you're done. Okay, what really works? Well for, for the reasons and instructions for the bureau, it's super simple. It's just choosing, I don't remember applying with this creditor and please remove this inquiry. That's it. It's that simple. And then you send off those letters to the bureaus. Now remember, just like any other type of item, if they don't remove it right away, you can always send follow up letters, warning letters, reinvestigation letters or file complaints if necessary. Okay. Whether working on your own credit or on your client's credit, the key to all disputing is persistence. Okay? Keep applying pressure and don't take no for an answer. And if you don't have a credit repair cloud account and you'd like to get that letter for free, sign up for a 30 day trial@creditrepaircloud.com or if you want to start your very own credit repair business, sign up for our Credit Hero Challenge where we will walk you by the hand and in just a couple weeks, you'll be the proud owner of your very own credit repair business. And and you'll have three shiny new certificates to show to your new clients. Here's what you need to know about that we're starting a new challenge in just a couple days, so join right now@creditherochallenge.com and I hope to see you on the inside. So until then, keep changing lives. Want more credit repair business secrets? Then get a copy of my book, the Ultimate Guide to Starting a Credit Repair Business. Get it free at Credit Repair Credit RepairCloud.com freebook Inside this book, you'll find my top 35 secrets to removing items from credit reports and turning that into an amazing business that helps people, changes lives, and makes you a great living in the process. Get it free@creditrepaircloud.com freebook. Sam.