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Discussion in 'Credit Talk' started by star, Nov 1, 2001.
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I haven't tried the online dispute for TU but as far as inquiries are concerned I've been writing letters to the original creditor to "prove or remove"...so far Direct Merchants Bank and MBNA have removed...I used a sample letter from creditmania.com...most got verified however I just re-sent another letter to each and stated it was a "second request", I haven't heard back but hopefully that might do it...I am going try the online TU also but most of my inquiries are on the other two...I'll keep you posted with progess...BTW I was an authorized user on a citibank card that became a charge off and showed on my reports, when I sent citibank a request to remove an inquiry they actually removed the chargeoff!! Their inquiry is still there?!
my problem is I went to an auto dealership in the summer for a car loan and I have pitiful credit, I didnt realize they sent my name to about 15 finance companys and I still didnt get the loan, what do I write to the dealer in this situation?
In your letter to ALL 15 finance companies I would simply put that you never applied for a loan with them and to remove the inquiry from you reports...because you did not authorize it...list the dates and the reports their on and request they respond in writing back to your address listed and they will ...you may not get all 15 removed at once but it's better than nothing...like I said I used a sample letter from creditmania.com for my first round....I just sent the second round last week...I think the second request may be taken more seriously. From what I've read and heard...persistance and dispute dispute dispute Good Luck
Where you shopping for a car or a loan? If you gave them the authority to look for credit, I don't think you have much choice but to accept it. According to a manager at Fair Isaac, multiple inquiries within a short period of time count just the same as a single inquriy for scoring.
If you didn't give them the authority to search for you credit, like a lot of automotive dealers will do, look on the ftc website for their opinion letter about dealers who request credit reports without the customer asking. Send a copy of it with your letter and tell them you want to know what they're willing to do to correct their error before you enforce your legal options.
The truth be known, I received a hard inquiry on my Tu report for just opening a savings acct with Ing Bank.Did not apply for credit, just opened a savings acct.
I Disputed With Ing and got back a letter that said
"We understand you believe a hard inquiry was incorrectly pulled in the process of opening a savings acct.If you feel this was pulled in error please contact TU".
Idiots...The person I wanted to talk to at Ing would not get on the phone or give his phone# out.Actually, he never returned any of the 82 phone calls I left.Finally, he sends a e-mail requesting a copy of the hard hit on my Tu report, but he mistakenly gave me his business phone # listed as his fax #, so try as I may the fax wouldn't go through, but I could sure call him.....
Very interesting conversation...He said that the bank has a legal obligation to know who they are opening a acct for.Opening a acct is usually a soft inquiry but the software can pull a hard if it meets other 'Know Your Customer"criteria.
I didn't think that the 'Know your Customer " legislation was ...ever passed.He said they have a new name for it now.
Here's a link to start with;
The software program in question is called,originally enough,Know your customer and is licensed by..(I should have seen this coming),
TRansUnION.Trans union also instructs the entity who pulled the hard inquiry on what and what not to say in response to a dispute,and how to avoid saying the truth so they will have less responsibility in case of lawsuit.He also mentioned Eq coaches its members.
Oh and When I disputed the inquiry with tu, it came back saying "A credit grantor doesn't always need your permission to pull a credit report for a permissible purpose.If you have any more questions you may write the original creditor".
If anyone needs a phone # or addresses or numbers for Customer relations,let me know.
FICO claims that these type of inquiries do not effect your credit score. They only look at creditors... The way I understand it, the passbook/accounts department of a bank would have a different vendor/class code than the mortgage/loan/credit card dept. Of course, that's assuming that they've entered the correct information... And we know that they NEVER make mistakes....
I got a letter from TU today, basically saying the same thing. I have about seven inquiries and most of them will come off next year. But it sure makes you hoppin' mad for them to tell you "contact the creditor" for an inquiry.