Last June we hooked up with a broker who ultimately did not do our loan…
long story
anyway I checked our credit report & there are requests from
CREDIT COMMUNICATIONS INC, FACUTAL DATA , & LANDSAFE CREDIT
all in a 3-4 week period & some were 3 times in a 4-5 day period!
I am in the process of trying to contact all of them & her (she was witn LoanEmporium I think) & find out wht in the heck there would be so many inquiries!? It has really screwed with our credit.
any hints or advice are welcome
any one ever used ovationlaw to straighten out credit?
It’s fairly normal for inquiries to appear like this. What happens when you are seeking a mortgage is that all of the mortgage inquiries are coded as such, mortgage inquiries and as a result all of those inquiries are reflected as one in your fico score. It shouldnt hurt you more than 10 points on each bureau.
be careful about disputing inquires!!! they will assume fraud in most cases and put alerts all over your file. Not a good thing. There is a way to get inquirys off, do a search for *B on www.creditboards.com to learn how
thanks for the heads up
I will ck out that link & be careful
but
28 days apart, 2 different people from Loan Emp had FACUTAL DATA pull our credit & 2 different people 2 days apart from community cr or some mtg company had CREDIT COMMUNICATIONS & factual data pull our credit
even those 2 companies thought it was weird & not cool …
the 3rd agency & a 3rd lender… all a few days apart
seems it is best to know the broker or they can screw things up
I was also informed that believe it or not, credit bureaus do sell info.
Yes, not sure how recent it is but generally when you go mortgage shopping the first inquiry from a mortgage lender with the credit bureaus will trigger a marketing tool on their end. They throw your name on a list of people shopping for a mortgage and sell the list to more lenders. However, I don’t think any inquiry from these competing lenders will actually affect your score unless you make application with them and authorize the inquiry and it occurs outside the 14-45 day grace period.
As for fraud alerts, I have used these in the past after an attempted identity theft. The alert goes on your account and requires a phone call to you before any card or loan is issued in your name. I think its a great security tool.
if you want those inquires off your report, sign up for truecredit.com get the one for all 3 CB’s and pull your report every day 24hours plus one minute for the next 4 months, I got rid of 14 inquires off transunion and my equifax just starting bumping. I would not suggest disputing anything inquiry related. You can read plenty of horror stories off creditboards.com
be careful about disputing inquires!!! they will assume fraud in most cases and put alerts all over your file. Not a good thing. There is a way to get inquirys off, do a search for *B on www.creditboards.com to learn how
if *B is a person, I don’t find him or her
regarding getting the inqueries off, I don’t think it hurts us as much as too much access to credit even though many have $00 bal… in process of closing them gradually
will read the board
thanks much
don’t understand the 24 hours and one min… think my life is tooooo scattered to do that
One place you should also check out is myfico.com. There are conflicting sites that say different things but I do believe that closing credit lines will actually hurt your score. One measure is how long you’ve had credit and once you close those lines, they’re no longer factored into your score. Also there’s a percentage of credit in use or percentage available. The less you have in use, the higher your score so closing accounts with no balance but lots of credit will also hurt your score.
Inquiries grouped within 14 days only count as one pull and can hurt your score by about 3-5 points. Paying down balances so that they’re less than 30% of total credit will also help you score.
As for the fraud alert, it’s a pain in the neck if you’re trying to get credit. I think I still have one on my account and they just make me fax my driver’s license and a credit card over to whoever I was requesting credit from. In that case, it was the electric company. It doesn’t bother me because I’m not the type that runs into a store to apply for instant credit, but a fraud alert would pretty much prevent that. I also applied for a card, had a free promo and all that and all they did was call me on the phone to verify that I had applied for the card. Not too bad overall, just annoying.
I think what irritates me the most is the control that creditors & CBs have & the vague mysterious guidlines to good credit… seems like such confusing bs :-X
will read at myfico
the card I closed was a fairly new one that had one late report (by 3 days) the other 6 (yes SIX! ::)) have pretty good track records… we used them for RE mainly… 2 have a $00 bal…
so I guess if we can pay down the others, the score will improve.
It can be a bit overwhelming the amount of inquiries. Depending on the mortgage shop and the programs that they are running, it’s not uncommon to have your credit pulled a number of times with different investors that they use.
It sounds like you had a situation that they really had to do some shopping for, especially if you were newly self employed… not uncommon, cause everyone likes a 2 year history.
I don’t know how much benefit you will see from disputing the inquiries. They all sound legitimate, honestly. When you give authorization by means of making application… they were allowed to run the mortgage with their different investors.
If you ever need someone to repair your credit. I can recommend a lady by the name of Janet Wilson.
She is very good at removing the negative, disputing the errors, and increasing your score… She’s fairly inexpensive and easy to work with. Tell her Jason Vogler sent you!!
Hi jason
Is Janet Wilson reliable or is it a hoax. She already have part of the fee she requested and all my info, but yet have not heard from her. Hope I won’t be another case of identity theft!!
She is not even returning any of my calls
Well, I didn’t mind paying a little money if it would increase my credit score. I did try disputing some stuff myself but without any success.
Are you saying you don’t believe in these credit repair schemes?
If you have any suggestions, let me hear them / I just trying to improve my credit score to get better loan rate!!
One option you might want to consider to bump your score is to be added as an authorized user to a existing “seasoned trade line”. Preferably a family or friend who can help. If not you can pay for them. There is a thread on this forum you can read about it. Unfortunately it is a topic some moderators of this board do not want people to discuss here any longer.
Do good search on the site for “money merge accounts” and “seasoned credit lines”. There’s a couple threads already. The practice is in dispute. The posters who pitch them usually have less than 50 posts or brand new accounts, but offer no company name or information in their profiles so you can properly research who they are or who they work for.
We try to stay neutral, but it’s annoying and strange that moderators inevitably get personal calls from the posters who try to “sell” us on these. Only a salesperson would care enough to call every moderator repeatedy to convince us that these things work. As usual, caveat emptor.
“Do good search on these for the site because it’s in dispute as to whether they work.”
The people who say is it is an option have produced evidence that it does work and is completely legal.
As is stated in these links. Which are totally independent of this forum and those who offer them.
There are disputes on the threads as to whether this route is the BEST option. That’s all we’re saying. You are one of the 3-5 people who keep posting about them. Our credibility (500+ posts) is in how we add value and provide advice in other threads.
The “seasoned credit line/money merge account” posters are
usually new accounts
AND/OR
only discuss them in 90-100% of their posts, but don’t add any other value to any other threads.
If they’d just admit they’re salespeople, that would make them look less suspicious. Instead they pretend to innocently ask for or give information, but get defensive or call moderators at work/home when the posters here are doubtful. Hmmmm.
Anyway, this is getting off topic and we don’t want to hijack the dicussion out of respect for the original poster. He’s asking how to dispute his score and I was offering advice that he should research the advice given in this post. First, search the site. Then look elsewhere.
