Common Credit Repair Questions

1 - How Much Do Credit Inquiries Hurt My Credit Scores?2 - Why are Collections that I Paid Over a Year Ago Still On My Credit Report?3 - Will Checking My Credit Scores Lower Them?4 - Why Do I Have One Credit Score That Is Much Lower Than My Other Credit Scores?5 - What Does Your 'No-Risk' Credit Repair Mean?

How Much Do Credit Inquiries Hurt My Credit Scores?

It depends on the type of credit inquiry and how many inquiries you have. There are two types of inquiries: a soft and hard inquiry. A soft inquiry (checking your credit online for example) does not impact your credit scores. A hard inquiry (when you actually apply for credit such as a credit card or loan) will have a negative impact on your credit scores. A hard inquiry can remain on your credit report for two years; however, inquiries over the last 90 days have the biggest impact on your credit scores.

Did you know that the credit scoring model let’s you “shop around” for the best rates for mortgage, auto or student loans? If you have multiple credit inquiries from these types of loans, the inquiries may only count as (1) inquiry against your credit scores if the inquiries were done within a 30 day period. Keep in mind that applying for credit cards is a different story. Completing credit card applications will have a negative impact on the credit score every single time.

Why are Collections that I Paid Over a Year Ago Still On My Credit Report?

A collection account can remain on the credit report for up to 7 years and continue to have a negative impact on your credit scores – EVEN after it’s paid.

However, there’s good news. It’s possible that a paid collection can be removed from the credit report if the account cannot be verified and that’s where we come in.

Will Checking My Credit Scores Lower Them?

No. Checking credit scores online is considered a “soft inquiry” and will not lower your scores.

The type of inquiry that has a negative impact on your credit scores is called a “hard inquiry” and this occurs when you actually apply for credit such as a car loan, credit card, mortgage loan, personal loan, etc.

Why Do I Have One Credit Score That Is Much Lower Than My Other Credit Scores?

There are several reasons why the credit scores can vary between the three credit reporting agencies (TransUnion, Equifax and Experian).

  • The most common reason for lopsided credit scores is that banks, creditors and collection companies are not required to report to all three credit reporting agencies. In fact, some creditors (usually small community banks) do not report at all.
  • Some collection companies only report to one credit reporting agency. This means that two credit reports may produce a much higher credit score, while the third report may produce a much lower score.
  • Unfortunately, the same can be said about creditors reporting your good information. A creditor may report your good payment history to just one credit bureau, but not the other two and this does not help your scores.
  • Finally, there may be errors reporting on one or two reports and not the third report.

What Does “No-Risk” Credit Repair Mean?

Unlike companies that charge a flat monthly service fee; we are a “pay-per-deletion” company which means that our service fee is based on actually removing qualified negative accounts from your credit reports that will help boost your credit scores. In other words… you pay us for results, not our time.  If we remove nothing from your credit reports then you pay no deletion fee – period!