Good morning all - Does anyone know what can be done about Collection Agencies making hard inquiries on CRAs? The only thing I can think of that might raise the need would be 2 charge offs from 2000 and 2001 - the one in 2000 dropping in October of this year. I also have Calvary Portfolio with one hard hit, but multiple, multiple *soft* hits/reviews. Any ideas how to chase these guys off early before they strike? Thanks!!!
The topic title might be confusing - I know who they are - they are listed on the CRAs, but I do not know why. And in the case of Calvary Portfolio, they had three hard hits on my Experian report in June, July and December 2006 and will remain on my CRA until 2008, respective of the months posted. On Equifax, they had a hard inquiry this month! There must be some way to make this go away and get off my records, right?
Getting an inquiry removed can be harder than getting a tradeline removed. The only thing you can do is dispute the inquiries (in writing) to the CRAs, and state that you do not believe they had a "permissible purpose" for their inquiry. Most likely they are reviewing debts that are about to go past any kind of Statutes Of Limitations, both for legal debt collection, and reporting to CRAs. If these CAs are someone you are trying to work out settlements with, you may want to include inquiry removal as part of the workout. But, for right now, the only thing you can do is dispute directly to the CRAs, and perhaps write the CAs requesting their "reason" for pulling the inquiries. But, you may not want to "awake the sleeping dogs", so be careful with contacting them.
Thanks Biz, I really only have two derogs they could be hawking, and both are CC charge offs from 2000 and 2001, well beyond the SOL in Virginia for collection. One is due to drop in Oct of this year and I am wondering if they are getting ready to try to re-age and ask for payment....not that I would, but... It seems to be that they must have bought one of these two charge off debts from the OC, right?
Send them a letter demanding to know the permissible purpose, and demanding validation for any account which they are alleging that they have for you. Chances are, the account just is passing through (they get it - and sell it - and get it back again, when the new CA decides its not worth what they paid for it) when they do the hard inquiries. You could ITS, if you're willing to draft the complaint, general unconscious acts, pulling repeated hard inquiries to adversely impact your credit rating.
Thanks Jam...Since I am positive that any debt they may have bought is well outside the SOL, I think it wise to go with the direct letter. Would yourecommend pushing the legalities in the letter and mentioning the adverse effects such inquiries have to my rating?
I said, if you would choose to do an ITS... When I sent them a basic letter, not even their legal department could figure out why they made the pulls... To be specific, basically it said... I can't find any accounts for you, but if we pulled your credit report, we had a permissible purpose.
