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 Posted: Mon Mar 14, 2005 6:40 pm Subject: Inquiries |
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Hey everyone.
I recently called a collection agency to get information on the pay off of my debt. How much I owed, account number and all that. This was before I ran my credit report. Now that I have ran the credit report I never autorized them to view my credit report and they are showing up in the inquiries. Is there a way to fight this and to get them off of it?
Thanks,
~Breezi
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breezi
Joined: 04 Mar 2005
Posts: 12
Debtcc Points: 300
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| Posted: Mon Mar 14, 2005 7:08 pm Subject: |
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i was in a similar situation and i tried doing that, but it doesnt help. atleast not in my case 
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sam1
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Debtcc Points: 100
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| Posted: Tue Mar 15, 2005 12:53 am Subject: |
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its funny when u come to think of it. they are looking at our credit reports and it is shown as a inquiry on our credit report and it takes our credit score down.
ahhhhhhh .. some times i feel my life is not in my hands any more 
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roger
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Debtcc Points: 100
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| Posted: Mon Mar 21, 2005 10:07 am Subject: SHOULDNT LOWER SCORE |
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I CANT BELIEVE THAT AN INQUERY WOULD LOWER A CREDIT SCORE. SIMON, DENNY ANYONE CAN YOU REPLY?
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puchodog
Debt Samaritan
Joined: 23 Feb 2005
Posts: 60
Debtcc Points: 473
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| Posted: Mon Mar 21, 2005 10:49 am Subject: Some Stats |
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The following information is used to calculate your score
Payment history = 35%
Amounts owed = 30%
Length of credit history = 15%
New credit = 10%
Types of credit in use = 10%
| Quote: | | I CANT BELIEVE THAT AN INQUERY WOULD LOWER A CREDIT SCORE |
Sometimes inquiries can have some stronger impact, especially if you have few accounts or a short history of credit.
Rule says,
Large numbers of inquiries also mean greater risk
People with 6 or more inquiries on their reports are 8 times more probable to declare bankrupt when compare to people with no inquiries on their reports.
Simon
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simon
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Joined: 11 Dec 2004
Posts: 240
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| Posted: Mon Apr 25, 2005 11:49 am Subject: |
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Unfortunately the collection agency does have a permissible purpose to access a copy of your credit report, because it is for the collection of an existing debt.
It can count 10% against the credit score, usually 2-10 point drop per inquiry. And this is negative since it will be coded on the credit report that a collection agency inquired, it will remain 2 years but only affect credit scoring for 12 month period, after that it is just there for looks.
In general you should not apply for incur more then 3 inquiries in a 6 month period of time. Otherwise you can start being denied new credit just for too many inquiries showing on the credit report. Makes you look desperate shopping for credit.
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Pammila
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Location: Illinois Debtcc Points: 8471
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