Previously, I was advised that all credit inquiries after 90 days can be removed but via a written request. What I would like to know is if that is true and if not what is the best way to have credit entries removed from my file after the 90 days that they are required to remain on a person's credit file.
2007-11-03 14:05:05 · 5 answers · asked by spencerb 1 in Business & Finance ➔ Credit
Your inquires stay for 2 years on your report. You can dispute them with credit reporting agencies but the agencies handle such disputes differently.
The FCR Act requires the agencies to investigate ANY reported information that consumers dispute and the inquires are not an exempt. Transunion and Equifax do regard the federal law and try to verify the inquires. Most of the time the creditors ignore the agencies' requests and the inquires are being removed within 30 days.
Experian disregards the federal law assuming that you are not going to do anything about that. The company ignores your inquire disputes. I removed all my Experian inquires by filing a lawsuit in a small court. Experian promptly settled my claim by removing all the inquires (cost me $30 in court fees)
2007-11-03 19:18:02 · answer #1 · answered by Dr. Shakar 2 · 1⤊ 1⤋
I have never heard of then deleting inquiries. After a period of time, they do not effect your score, but totally removing them, ....write to all 3 major repositories, Equifax, Experian and TransUnion. It's worth a try....there are thing calls soft inquiries and hard inquiries. hard inquiries are the inquiries that you actually authorize (like for a car, credit crd, etc. something that you have actually signed) soft inquiries are for credit card, mortgage and all that other solicitation junk mail you get. things you did not authorize. Employers also check credit, but soft inquiries and employment inquiries do ot effect your score.
Let us know the outcome. I would be interested in knowing about removing the inquiries.
2007-11-03 21:19:05 · answer #2 · answered by puppylove 2 · 1⤊ 0⤋
You can write the companies that reported the inquiries a GW letter (Good Will to delete).
Go to myfico.com and sign up for the forums. They have GW example letters as well as an endless supply of credit advice.
There is no danger of a fraud alert being put on your Credit report UNLESS you have an open account with the people you are asking to delete the inquiry.
People usually use the GW letter for credit card inquiries that have REJECTED them.
Good luck, and don't give up. I have seen this work with a lot of people from the forum mentioned above!
2007-11-04 04:02:47 · answer #3 · answered by Anonymous · 2⤊ 1⤋
The credit bureaus do not delete that type of inquiries, you need to write your letter to the creditor that marked it, send it certified, then in 30 days send your letter to the credit bureau if it has not been removed.
2007-11-04 02:12:48 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Who ever gave you that advice gave you bad advice.
If you dispute the inquiries you not only run the risk of the CRA's placing fraud alerts on your files but you also run the risk of the creditors closing the accounts.
You will also run the risk of having an extremely hard time re-opening the closed accounts and/or being approved with other lenders with a fraud alert on your reports.
At 6 months, inquiries are less of a factor in the scoring models. They are not used in the scoring models at one year.
Generally after 6 to 12 months and after, the only ones who notate the inquiries are underwriters.
It would be best to let them age and drop off at the normal rate.
2007-11-03 21:20:26 · answer #5 · answered by echo 7 · 1⤊ 2⤋