Can Lexington Law Remove Hard Inquiries? Lets Get Them Removed
There are numerous factors that affect credit scores, and to everyone’s surprise, a hard inquiry also does. These can happen knowingly or unknowingly, but before we answer whether or not can Lexington law remove hard inquiries.
Let’s briefly discuss what a hard inquiry is.
What Is a Hard Inquiry?
A hard inquiry is when there is a formal request done by another party so that they can review your credit report.
Typically, you will find these requests coming from a potential lender who wants to take a look at the strength and history of your credit report before they can agree to offer a loan to you.
When you are applying for a loan, you give authority to the creditor to request a hard inquiry into your credit report. This is done so that they can see whether your score meets the necessary requirements.
It's also done to ensure that there aren’t any negative markings on the credit report. These may include charge-offs or late payments.
If you do have negative markings, it will indicate to the creditor that you could potentially be an irresponsible loan holder, and this will, in turn, reduce the possibility of your loan being accepted.
Other than loans, a hard inquiry may also occur when you are applying for a new credit card or when you want to rent a new house.
Related: How do credit repair companies work?
Impact of Hard Inquiry on Your Credit Score
A single hard inquiry does not have such a massive impact on your credit score, but it does have the ability to decrease about five points or lesser. That being said, the impact of the inquiry also depends greatly on your unique credit history.
So, a hard inquiry will have a greater effect on your score if:
- There are no or just a few credit accounts
- Your credit history is short
- You have authorized little to too many hard inquiries in a short span of time
See "inquiry assist": Lexington Law Review 2020
Can Lexington Law Remove Hard Inquiries?
In a nutshell, Lexington law can begin the process of removing hard inquiries from your credit score. Due to its legal nature, there is no promise of when it will be removed. That being said, it is not impossible to remove these from your credit history.
The catch is, it needs to have occurred without your approval.
If you see a hard inquiry done on your credit report and you did have any knowledge of it, then you do have the right to ask for that hard inquiry to be removed from your report.
Certain credit inquiries can be removed from your report if you feel you were pressured to do so in an application process that led up to that inquiry.
- The hard inquiry was made without your approval
- The hard inquiry was made without your knowledge
- The number of hard inquiries exceeded the number you were expecting
- You feel that you were pressured into approving that hard inquiry
Can Lexington law remove hard inquiries? Maybe if you go by what we have listed above, you may have the chance the remove it from your report.