Credit Bureau's collect and record inquiries as a piece of a consumer's credit report. Traditional vendors employ a financial staff that will seek available credit for you to purchase their products
A list of typical vendors who employ a financial department:
- automobiles
- boats
- time share
- snowmobiles
- all terrain vehicles
- farm equipment
- restaurant equipment
- motorcycles
- mopeds
- appliances
- recreational vehicles- campers
The consumer enters a marine market to purchase a large pontoon boat. The financial
staff record the information needed to facilitate inquiries and forwards the request to several contracted lenders. This is to create the best financing option on behalf of the consumer. The department within each lender then sends inquiries to the credit bureaus to comply with their internal process. Suddenly you have 4 potential lenders getting your credit report to create an attractive loan contract. One can see how a day of shopping at the local marine market can result in several inquiries being recorded by the credit bureaus on the consumer's credit report.
Credit Repair Nerds Wisconsin www.creditrepairnerds.com
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