Everyone is trying to back in the groove now that 2020 is further and further back in our rearview mirror. Whether you are applying for a new home or a start-up loan for a new business, it’s important to know how your credit report will affect the funding available to you.
Simply put, a credit inquiry is a credit check. Inquiries happen when there is a legally permitted request to see your credit report from a company or person. All inquiries aren’t created equal.
TYPES OF INQUIRES
There are 2 different types: hard and soft.
Hard inquiries are ones made with your permission for specific transactions. When you apply for credit—be it a credit card, mortgage or car loan—the potential lender will generally pull your credit before deciding whether to approve your loan application and what the terms might be.
Soft inquiries won’t show up on reports requested to evaluate your credit-worthiness. Every time you check your credit report, a soft inquiry is generated. Among other reasons, soft inquiries happen when creditors check your credit to determine any pre-approved offers.
WHY DO I HAVE SO MANY INQUIRIES?
Clients having too many inquiries in today’s world is very common. A lot of financial companies put an unnecessary amount of inquiries on the clients credit report when trying to get them financing. Once you have excessive inquiries on your credit report then getting any type of financing will be close to impossible.
WHY DO CLIENTS GET TURNED DOWN FOR FINANCING WITH TOO MANY HARD INQUIRIES?
When your file gets to underwriting having too many inquiries could mean the following. 1. You are desperate for capital 2. The file is fraudulent 3. You are stacking the funding. Stacking the funding means you have been approved for capital from other places already but it has not shown up on your credit report yet.
HOW CAN OUR COMPANY HELP YOU?
We remove unauthorized hard inquiries by using the FCRA (Fair Credit Reporting Act) laws to permanently remove these inquiries from your credit report. These extra inquiries will lower your credit scores by 3-5 points each and if you have too many of them 6+ you will still not be eligible for financing even with a very high personal credit score. Our service removes all unauthorized hard inquiries on all 3 credit agencies. We charge per deletion and guarantee results of 85% + success to qualify you for funding.
CAN I REMOVE INQUIRIES FROM OPEN ACCOUNTS?
No you cannot. Inquiries that are tied to open accounts are not bad. Only excessive inquiries NOT tied to open accounts or preexisting accounts.
CAN YOU REMOVE INQUIRES FROM ALL AGENCIES?
Yes we can! We are successful on all 3 agencies including Equifax (EFX)
IS IT A GOOD IDEA TO REMOVE THE INQUIRIES?
Every inquiry on your report cost you 3-5 points on your fico score. Removing excessive inquiries makes you eligible for funding, makes your score go up and makes you look better to get approved for future capital.
HOW LONG DOES IT TAKE TO REMOVE THE HARD INQUIRIES?
Generally Experian and Transunion is the quickest within 3 weeks. Equifax takes 5 to 6 weeks.
Thinking of Starting a New Business?
Now is the time! With our society ready to get back in action (safely), new business concepts are quickly emerging with creative flows for serving the public without the high risk of spreading the virus. Put your innovative business concepts into play, and connect with us to get the funding you need to start your newest venture!
Financial restraints have been a complaint for many of the dreamers, limiting themselves to their immediate funds. There is an alternative. If you have the dreams and decent credit, Small Business Loans and No Doc Loans are available to you. Our goal is to provide you with the knowledge you need and the resources available to make your dream a reality. Give us a call – we have the education and the perspective to help you obtain the loans you need for your small business. Visit our website or give us a call to find out what financial backing is available to make your business soar!
Unsecured Finances has over 10 years in the consulting business! We specialized in educating and assisting clients on acquiring Unsecured Business Loans and Start-Up Business Specialty Loans including; Unsecured No Documentation (No-Doc Stated Income) Loans, Unsecured Business Loans, and Unsecured Start-Up Business Loans and Lines of Credit from $10,000 to $500,000 without Assets.
Apply on our website to find out if you qualify, or call today for a free consultation: 1-888-294-2584