Debt Consolidation Care Answers
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How to prevent CA from viewing my credit report?  

0
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
 

asked Mar 14, 2005 05:40 PM

breezi
Best Answer
5
best answer

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.

answered Apr 25, 2005 11:49 AM

4 Answers

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i was in a similar situation and i tried doing that, but it doesnt help. atleast not in my case icon_cry.gif

answered Mar 14, 2005 06:08 PM

Anonymous
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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 icon_surprised.gifops:

answered Mar 14, 2005 11:53 PM

Anonymous
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I CANT BELIEVE THAT AN INQUERY WOULD LOWER A CREDIT SCORE. SIMON, VIKAS ANYONE CAN YOU REPLY?

answered Mar 21, 2005 09:07 AM

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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

answered Mar 21, 2005 09:49 AM

1 

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