Every adult has been at a point where they needed some funding. Whether it is a student loan, a personal loan, or a small business loan, getting loans is easier as long as you get qualify for them and have ability to pay them back. However most people fail to realize how much damage loan piling can cause to your credit score.
No one likes botheration of creditors calling again and again to get the loan payment. Sometimes, the constantly contact of creditors make you feel harassed and thus you seek help! Here Cease and Desist Letter to Debt Collector is what you need.
A cease and desist letter is a way of formally requesting your debt collector to stop contacting you. The Fair Debt Collection Practices Act (FDCPA) states that if a debtor formally requests their creditor to stop contacting them, they must cease all contact with the debtor. However, this formal request doesn't mean that you won't have to pay them back. They just won't be able to contact you for said payments repeatedly.
While filing a cease and desist letter to debt collector will get you some peace of mind, it will go on your credit report. When you apply for a new loan, your loan provider may ask to see your credit report. If you have sent a cease and desist letter in the past, the loan provider may even request a hard inquiry on your credit report.
What Is A Hard Inquiry on A Credit Report?
A hard inquiry occurs on your credit report when you apply for a new loan or credit card. Even the creditor formally requests a look at your credit report to determine how much risk you pose as a borrower. Hard inquires show up on your credit report, causing a dent in it. They also stay for as long as two years. It can be hard to get rid of a hard inquiry from your credit report.
If you wish to get rid of a hard inquiry from your credit report, it is best to seek financial advice from a professional credit services provider like Active Disputes DIY. Removal of hard inquiries from your credit report will make you a better candidate for any loans you might want to take in the future and improve your credit score.
Conclusion:
Visit Active Disputes DIY for help with complicated financial issues like sending a cease and desist letter to debt collector or for help with credit inquiry removal and get satisfactory results in a short period of time.