How to remove inquiries from credit report?

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To get unwanted credit inquiries off your Canadian credit report, reach out to Equifax and TransUnion. Equifax lets you dispute online or by mail, taking 15-25 days; TransUnion offers online, mail, or phone options, resolving in about 30 days. If you hit a snag, add a consumer statement to your report. Focus on improving credit health rather than third-party services. Reach out via phone, text, or live chat if you have any questions.

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Remove Inquiries From Credit Report Question

How to remove inquiries from credit report? There are a lot of inquiries on my credit report, and I think some are unnecessary. I want to understand the process of getting rid of them.

From: Anonymous Question
Location: Vaughan, Ontario (ON)
Category: credit rebuilding

Remove Inquiries From Credit Report Answer

If you’re looking to clear those pesky inquiries from your Canadian credit report, you’ll want to touch base with credit bureaus like Equifax and TransUnion. For a bit of a smoother ride with Equifax, you can file a dispute online or by mail. Just remember to have your ID handy along with proof of any unauthorized peeks at your credit. Time-wise, you’re looking at 15–20 days for online submissions, while snail mail may stretch up to 20–25 days. TransUnion, on the other hand, offers a trio of options: online, by mail, or even by phone, with most resolutions happening in around 30 days. If they find any funny business, these inquiries might vanish. But if no dice, you can always add a consumer statement to your report to share your side of the story.

Now, a word to the wise: it can be a bit tricky to prove you didn’t give the green light, considering lenders usually reply back to disputes. Inquiries generally don’t pack a punch on your score and will naturally drop off after a few years. Rather than chasing after these inquiries, why not shift focus to boosting your credit health by trimming down debt and keeping a keen eye on your accounts? Save yourself the hassle, and maybe a buck, by staying clear of third-party services for this—often more bother than they’re worth. And if you’ve got questions, feel free to reach out by phone, text, or live chat—we’re here to help! If you’re looking to improve your situation, consider exploring options like a Consumer Proposal to manage your debts effectively. Trustees receive payment from lenders and creditors, so they aren’t on the side of Canadians in debt. Some may even charge you twice or add extra fees. Stay informed!

From: Insider Scott

Office of the Superintendent of Bankruptcy (OSB) Answer

To remove inquiries from your credit report, you can take the following steps:

1. Identify Incorrect Inquiries: Review your credit report carefully and identify which inquiries you believe are unnecessary or incorrect.

2. Dispute Incorrect Inquiries: You can dispute the inaccurate inquiries with the credit reporting agency. Under the relevant regulations, such as the Consumer Reporting Act (RSC 1985, c 19) Section 14(1), you have the right to request the correction of information that you believe is inaccurate or incomplete.

3. Provide Documentation: When you submit your dispute, include any documentation that supports your claim that the inquiries are incorrect or were made without your consent.

4. Wait for Response: The credit reporting agency must investigate the dispute usually within 30 days according to Section 14(3) of the same act. They will provide you with the results of the investigation.

5. Follow Up: If the inquiries are found to be inaccurate, they should be removed. If they remain and you still believe they are incorrect, you may consider contacting the creditor who made the inquiry directly to resolve the issue.

6. Limit Future Inquiries: Going forward, be mindful of applying for credit, as each application can result in a hard inquiry.

For exact protocols, refer to the Consumer Reporting Act (RSC 1985, c 19) and regulations pertaining to credit reporting.

From: OSB Helper

Related Questions to How To Remove Inquiries From Credit Report

Here are the top 5 most frequently asked questions related to removing inquiries from a credit report, based on the provided sources and general online trends:

1. How do I dispute an incorrect credit inquiry on my credit report?

You can dispute an incorrect credit inquiry by submitting a dispute to the credit reporting agency (Equifax or TransUnion) online, by mail, or by phone, and providing supporting evidence[2][3][5].

2. What documents do I need to submit to dispute a credit inquiry?

You will need to provide documents such as government-issued ID, credit card statements, payment receipts, and any other relevant documentation that supports your dispute[3][5].

3. How long does it take to resolve a dispute over a credit inquiry?

The dispute process typically takes around 10-30 days, depending on whether you submit your dispute online or by mail[2][3][5].

4. Can I dispute a credit inquiry directly with the business that made the inquiry?

Yes, you can contact the business directly to dispute the inquiry, and they will conduct an investigation and notify the credit reporting agency of any necessary changes[1][3][5].

5. What happens after the credit reporting agency investigates my dispute?

After the investigation, the credit reporting agency will notify you of the results, and if your dispute is successful, the incorrect inquiry will be removed from your credit report[1][3][5].

If you have a question about debt see our debt questions or ask your own debt related question.

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