I have a bunch of questions on inquiries.I sent certified letters to a bunch of the companies that made inquiries on mine and my husband's credit requesting written proof of our ok to run our credit. All couple of them I got back that they could not be forwarded or no such address, can I asked the CRA to remove them based on that? A couple I got responses on state that they got my permission from another company. What seemed to have happened is that when my husband test drove a truck, the dealership he was at shot gunned his credit with 4 different places because they had the copy of his license while he took the test drive. I haven't received a response yet from the actual place that he took the test drive at, it is coming up on 30 days. If I receive no response can I request from all the other places that they remove the inquiry because no proof was submitted to me?
What you are saying is that your husband had not filled out a credit application, and did not authorize the dealership to either pull his credit report, or to start loan applications with anyone, correct? Did your husband ultimately buy a vehicle from this dealer?
Technically they did NOT have permissible purpose, any more than the dealer did. The dealer might claim your husband gave permission, such as by asking whether they could obtain financing for him. The banks will probably claim they were acting in good faith based on the representations of the dealer. If the inquiries are correctly coded as auto loan inquiries, then all inquiries within 14 days (or 30 days under new FICO) should count as only one inquiry. Are the inquiries depressing his scores to a sufficient degree to affect other credit relationships? Are they interfering with, say, a pending loan application or mortgage application? Are the damages significant? What do you want to accomplish? Go to court and try to collect damages, or get them off your reports? What is your time worth?
I just want to get them off his credit report. DOn't they have to have written proof? And if the dealer doesn't provide proof, should the others have to remove the inquiry based on that? On TrueCredit it reads that one of the things hurting him is too many inquiries.
First of all, you can't trust what automated score advisers tell you. They will always come up with something that is allegedly negative, but they don't reverse-engineer FICO to do it. If they are correctly coded as auto loan inquiries and they were within 14 days, they should count as only 1 inquiry toward FICO. They might still interfere with obtaining other new credit for a few months, since some lenders might not accept marginal applicants with 2 or more recent inquiries, but that effect should fade relatively fast. If your husband's scores are average, by the time you could take this to court, say, in a few months, his scores would probably have rebounded to essentially where they were prior to this. Even if you won, would compensation for your damages be worth your time? If, on the other hand, you were trying to buy a house, right now, had marginal scores, and this could put that in jeopardy, you might have real damages, and it might also be worth "going ballistic" with complaints and demands to get them off immediately, and maybe even suing if your deal fell thru. To some degree, sending your info to multiple lenders who each pull reports poisons your ability to work with a lender of your choice in the near future. If you are well off, have an attorney on retainer anyway, and are determined to keep people from nosing into your financial affairs, you might also view it differently. You might sue the auto dealer and salesman (under FCRA, no PP) just because you don't want any party you might be negotiating with to have the advantage of surreptitious access to your credit file. How significant is this? What are your husband's FICO scores?
My husband's FICO's are not too bad. Exp. 699 Tran. 688 and Equi. 685. I have worked on them for well over a year and have them up about 150 points from last year. Of the 5 inquiries that were done when this happened, 4 of them were with Experian. My thinking is that if I get rid of them, that might push the Experian number over 700, which would be huge. Then the only other "bad" thing he has left, is our bankrutpcy which will fall off this October. We are not trying to buy a house now, we just got a mortgage, with a 9% rate, that was partially because of the two incorrect liens that placed on him (one of which is gone from everyone and the one that I am still fighting to get off Experian only.) But I would love to refinance the mortgage.
