Is LexisNexis / INS / P&C on your credit report? If so, it could lower your credit score.
The above abbreviation stands for property and casualty insurance and could be on your report because you recently applied for an insurance policy.
If you haven’t recently applied for an insurance policy, you could be the target of an identity thief or a reporting bug.
However, if you’ve applied for property and casualty insurance, then listing LexisNexis / INS / P & C is nothing to worry about.
Read on to learn more about LexisNexis. We’ll also explain what a hard request for your balance means and how you can potentially delete an entry.
LexisNexis / INS / P&C on my credit report
LexisNexis is a company that provides data-driven research and risk management services to companies.
The company works with insurance agents and providers, including those who sell property and casualty insurance.
As such, they can access your credit reports and other records on behalf of an insurer when you submit an application.
LexisNexis can access data from all three of your credit reports through the National Credit File program.
This would result in a tough request for one or more of your reports.
If you are overwhelmed with handling negative entries on your credit report,
We encourage you to seek help from a professional credit repair company.
Ask Lex Law for help
How a LexisNexis / INS / P&C Loan Request Affected Your Report
It is important to understand the difference between hard and soft loans.
Soft credit request
As the name suggests, a soft request will have less of an impact on your balance than a hard one.
Soft credit checks are used to check your results whenever you:
- Access your score with a credit monitoring app
- Receive quotes for an insurance policy, credit card, or loan
- Qualify for a quote
Gentle inquiries do not damage your creditworthiness in any way. While you can view your soft requests, they won’t be shown to lenders.
Hard credit inquiries
Hard requests are different. They take place when you leave the offer comparison phase behind and actually apply for a loan or a loan account.
These inquiries give lenders full access to your credit reports. This can be crucial in deciding whether or not to approve your application.
Hard queries lower your score, but only by a few points. The request is also added to your credit report, where it stays for two years.
If you’ve worked hard to maintain a strong credit rating, it can be a disappointment to see it decline. However, hard requests are a prerequisite for getting new accounts.
While lenders can see all of the tough requests on your report, these entries are unlikely to affect your future loan or card approval rates unless you have more than one.
Some inquiries are acceptable, but some can indicate financial instability and discourage lenders.
Before you apply for your next credit card or loan, take a moment to determine your approval rates.
You can also limit the impact of tough inquiries by submitting all of your applications within 14 days of one another when comparing prices.
How to remove LexisNexis / INS / P&C from your credit report
Suppose the hard query is legitimate. That is, it is there because you applied for a loan / policy or agreed to be an authorized user for a loved one.
If so, you probably won’t be able to delete it from your report.
However, if you have even more questions than before in the sections above and you are not sure where the request came from, consider using the information below to clear it.
Here are two ways to remove a hard query from your credit report.
To stop a fight
As with debt collection postings, you can dispute tough inquiries that seem inaccurate.
If so, you are protected by the Fair Credit Reporting Act.
This law allows you to file disputes with the credit bureaus. And it will give them 30 days to look into the listing.
If it is accidentally there, it will be removed from your report.
In addition to filing a dispute with the offices, you may want to contact LexisNexis regarding the inquiry.
If someone used your information to apply for a loan or insurance, a conversation with LexisNexis can give you the information you need to end the scam.
You can also add a fraud notification to your credit reports and enable a loan freeze, which will prevent creditors from accessing your reports to approve new loan applications.
One of the keys to improving your bankroll and maintaining a high score is monitoring your bankroll.
All you need to do is take a moment to register for a free credit monitoring app like Credit Sesame or Credit Karma.
These apps give you routine credit updates and notify you when something is added to your report so you can review or report new entries.
You can also get advice on improving your score by creating special loan offers for you.
Pay for a credit repair service
In any case, you can file a lawsuit against a debt collection agency or credit report service yourself, but you don’t have to.
If you don’t like the idea of tackling potential identity theft or reporting problems yourself, consider hiring a credit repair company.
They can help you take the necessary steps to resolve the problem and they can also help you deal with more damaging credit problems.
A credit repair company can save you hours of phoning and writing letters.
They are expertly trained to remove inaccuracies from your report and provide you with strategies for increasing your score efficiently.
Dealing with LexisNexis / INS / P & C.
If you are concerned about a listing from LexisNexis, but the application that posted the listing is legitimate, there is absolutely no need to be stressful.
Harsh inquiries do come, and as long as you keep them to a minimum each year, they won’t seriously affect your score or access to credit.
If you can’t remember whether or not you consented to a tough credit check, take a moment to contact LexisNexis.
The call could shake your memory, and if it doesn’t, you will have ample resources available to help you correct the record and clear the request from your report.
Still need help improving your bankroll? If so, keep in mind that with a credit monitoring service and hands-on support from several great credit repair companies, you can find great resources.