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Credit inquiry- how to remove it and rebuild your credit

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anthony

anthony

Joined: 31 Jul 2006
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Posts: 516



13587 Magic Points

Subject: Credit inquiry- how to remove it and rebuild your credit
 
Posted on Wed May 21, 2008 9:13 am  

Ways to remove credit inquiries from your report:
Hard credit inquiries are done whenever you apply for a new credit. It remains on the credit report for two years has a negative impact on your credit score as it shows how much you are credit hungry. If you do not want to keep these inquiries in your report for two years, then you may go for removing credit inquiries. For this you can try the following:
- first figure out which inquiries are coming on your way and then ask for your credit reports from the CRA's
- After getting the report, find out the addresses of your credit report inquirers and send letters to the creditors to remove credit inquiries from your report
- FCRA allows only authorized inquiries to appear on your credit report and so you can ask them whether they have proper authorization to pull up your credit file. If they have any authorization, check the authorization that you have signed.
- If it is a deceptive and unclear authorization, you can threaten them to take the matter to the State Banking Commission if they do not
remove credit inquiries.
- Most creditors delete the inquiry as a courtesy or because they cannot verify your authorization.

It may be noted that not all credit report inquiries are removed. In this way few gets removed which will bring you to a more favorable condition.
-
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Anthony Marx

A positive attitude is not achieved by turning a blind eye to the negative, but rather by responding to every situation in the most positive way possible.
CMBV22

CMBV22

Joined: 08 May 2008
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5155 Magic Points

Subject: Remove credit inquiries to improve score
 
Posted on Wed May 21, 2008 7:41 pm  

Yes, I am aware of that but, what I was curious about is if the article is correct that you can merge your hard inquiry and the trade line it then opens. The only inquiry I have on my CR is from a credit card I opened last year. My question is: is this article correct that I can merge the inquiry with the tradeline on my CR and If so how do I do it? I know credit report inquiries hurt my credit score. Can you tell me how can I improve my credit score by removing credit inquiries?
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idee
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Subject: How to remove credit inquiries
 
Posted on Thu Dec 18, 2008 6:33 am  

Does removing credit inquiries from the credit report increase the credit score? How can I know whether hard credit inquiries are authorized or not? How to remove credit inquiries from my credit report? What do you know about credit report inquiries?
carol

carol

Joined: 27 Jun 2006
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Posts: 1299
Location: Los Angeles, California


30038 Magic Points

 
Posted on Thu Dec 18, 2008 6:54 am  

Hi Idee
Whenever you apply for a new credit card or a new line of credit, the creditor checks pulls out your credit report to check your creditworthiness. This is known as hard inquiry and may lower your credit score by as much as 5 to 10 points. If you have applied for a line of credit, it means that you have authorized the creditor to make a hard inquiry in your report. In such cases you cannot remove such credit report inquiries from your report and it will stay in your report for two years. Try to find the ways of removing credit inquiries from your credit report so that you can build a good credit history.
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Otto
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Posted on Wed Jan 28, 2009 9:09 am  

When you apply for credit online, do they (the company you apply for credit from) really have any way of showing that it truly was authorised? Do you think it will be considered as credit report inquiries?
Joshua



Joined: 01 Feb 2009
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Posts: 1



30 Magic Points

 
Posted on Sun Feb 01, 2009 5:28 am  

How do I find the contact information for the company that made the credit inquiry on my credit report? I only see their name on the credit report with no contact. Should I ask the CRA or just google them and send them the letter to their main contact address?
scott

scott

Joined: 28 Jun 2006
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Posts: 446



10890 Magic Points

 
Posted on Mon Feb 02, 2009 11:20 am  

Hi Joshua
Yes, you can either ask the credit bureaus of their contact information or the inquirer or just google it. However, if you can post the name of the inquirer in this forum, we can help you out here with their address. You can also find out their address from the Better Business Bureau website.
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SCOTT

Use your credit account responsibly and enjoy a debt free life.
Guest







 
Posted on Mon Feb 02, 2009 11:25 am  

Hello Scott,

Here is what I have in my reports:

Consumerautofi/Credcoims
Cbe Group Inc
Nowcom/Westlake Financ
Credit Acceptance
Credco
Power Pay Llc

Thanks!
Justin

Justin

Joined: 17 Jul 2006
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Posts: 1238



28944 Magic Points

 
Posted on Mon Feb 02, 2009 11:28 am  

Hi Otto
When you apply for a credit card or any new line of credit online, they will ask you for your social security number and date, month and year of birth. Mostly, the ss number is only known to you and so they can be sure that you have made the application by yourself. Once you apply through the secure application online, their database gets updated with such information and so they get authority to pull out your credit report for hard inquiry.
Now, if you think that you have made no application online and there is a hard inquiry in your report, then it may be an instance of identity theft.
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Justin
scott

scott

Joined: 28 Jun 2006
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Posts: 446



10890 Magic Points

 
Posted on Mon Feb 02, 2009 11:38 am  

Just send a letter asking them to verify your authorization at the following addresses:
CBE group Inc:131 Tower Park Drive - STE 100, Waterloo, IA 50701-9374
Now Com: P.O. Box 6432, Carol Stream, IL 60197 and
Power Pay Llc: 280 Fore Street, Portland, ME 04101 (It is a credit card company)
_________________
SCOTT

Use your credit account responsibly and enjoy a debt free life.
Guest







 
Posted on Mon Feb 02, 2009 11:53 am  

One more question please:

Should I dispute with the CRA first and then if it doesn't work ask for verification from those companies or is it the other way around?
Mary

Mary

Joined: 06 Jul 2006
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Posts: 684



17420 Magic Points

 
Posted on Tue Feb 03, 2009 10:44 am  

You should first ask for debt validation from the creditors or the collection agency. Now as per the FCRA, they need to validate the debt within 30 days from the date they receive your letter. If they fail to validate within this 30 day period, you can send a dispute letter to the credit bureaus. The credit bureaus will verify it with the creditors and will remove credit inquiries from your credit report. You can find sample dispute letter if you visit the link letters of credit
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Nam
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Subject: Addresses
 
Posted on Thu Jun 04, 2009 6:29 pm  

Hi If anyone can help locate these addresses it would be greatly appreciated. I'm having a hard time tracking these companies down.

ALLIANCE CREDIT UNION 10/04/2008 Experian
CBCINNOVIS 09/03/2008 Equifax
COAF 09/09/2008 TransUnion
CREDSTAR 09/05/2008 Equifax
EMS 05/11/2008 Equifax
I R ANAHEIM 02/13/2009 TransUnion
INFORMATIV 02/13/2009 Equifax
INFORMATIVE RESEARCH I 05/01/2009 Experian
LANDSAFE 01/13/2009 Equifax
LANDSAFE CRT 02/13/2009 TransUnion
LANDSAFECREDIT 02/13/2009 Experian
RELS CRDT 04/19/2008 Equifax
RELS REPORTING SERVICE 01/03/2009 Experian
RELSCREDIT 04/19/2008 TransUnion
ROADLOANS 09/09/2008 Equifax
rachael



Joined: 11 May 2009
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Posts: 233



6576 Magic Points

 
Posted on Fri Jun 05, 2009 6:45 am  

Hi Nam,

I managed to find the addresses of few companies you are looking for:

1) ALLIANCE CREDIT UNION

Alliance Credit Union
P.O. Box 18460
San Jose CA 95158-8460

or

Alliance Credit Union
237 Racine Dr.
Wilmington, NC 28403
Phone no- 800.232.8669

2) CBCINNOVIS

CBCInnovis
875 Greentree Road
8 Parkway Center
Pittsburgh, PA 15220

Phone no- 1-800-575-4460

3) COAF

Capital One Auto Finance
PO Box 260848
Plano, TX 75026-0848

Phone no- 1-800-946-0332

I could only find the phone numbers of the following organizations:

1) LANDSAFECREDIT
Phone no- 877-572-5673

2) ROADLOANS
Phone no- 1.888.222.4227

3) EMS
Phone no- 800-615-1330

Hope this will help
Laughing
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Looking forward to a debt-free life.
scott

scott

Joined: 28 Jun 2006
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Posts: 446



10890 Magic Points

 
Posted on Fri Jun 05, 2009 11:16 am  

Hi Nam

You will find below the addresses of some of the companies you found on your credit report:

1) CredStar
12395 First American Way
Poway, CA 92064

Phone: 800-767-8569


2) Rels Reporting Service
34th Avenue South, Suite 1300–Bloomington,
MN 55425

Phone no-877-735-7725.


3) Informative Research
Corporate Headquarters
P.O. Box 2379
Garden Grove, CA 92842
Phone no- 800.473.4633
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SCOTT

Use your credit account responsibly and enjoy a debt free life.

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