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Author Topic: Disputing credit score  (Read 16221 times)

Offline drcpr

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Disputing credit score
« on: October 26, 2006, 04:47:24 pm »
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?

tia

Offline nathanjacobs

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Re:Disputing credit score
« Reply #1 on: October 26, 2006, 05:15:30 pm »
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.

Offline drcpr

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Re:Disputing credit score
« Reply #2 on: October 26, 2006, 05:44:00 pm »
these ultimately show as 5 different inqueries in a 4 week period

only one was authoirzed

additionally we are newly self employed ... by 11 months so we really don't need to loose a single point
« Last Edit: October 26, 2006, 05:52:45 pm by drcpr »

Offline John_in_NC

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Re:Disputing credit score
« Reply #3 on: October 27, 2006, 06:44:01 pm »
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

Offline drcpr

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Re:Disputing credit score
« Reply #4 on: October 27, 2006, 07:14:51 pm »
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.

Offline 71tr

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Re:Disputing credit score
« Reply #5 on: October 27, 2006, 09:51:24 pm »
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.

Offline John_in_NC

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Re:Disputing credit score
« Reply #6 on: October 28, 2006, 10:50:49 am »
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

Offline drcpr

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Re:Disputing credit score
« Reply #7 on: October 28, 2006, 12:52:38 pm »
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
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RE: Reply #3 on: Fri. Oct 27, 2006, 06:10 PM    

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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  :P

Offline henryinma

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Re:Disputing credit score
« Reply #8 on: October 28, 2006, 02:17:22 pm »
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.
Realtor/Rental Property Owner
Boston, MA

Offline drcpr

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Re:Disputing credit score
« Reply #9 on: October 28, 2006, 02:40:31 pm »
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.

thanks a bunch

Offline starke

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Re:Disputing credit score
« Reply #10 on: November 01, 2006, 03:21:24 pm »
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.
(I was 1031store... starke is my last name)  Find 1031 tax exchange real estate NNN property for sale nationwide.  In the industry?  Join free, and create a expert profile to help exchange investors find you.

Offline Lendinghand

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Re:Disputing credit score
« Reply #11 on: November 01, 2006, 08:05:11 pm »
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!!
« Last Edit: February 07, 2007, 01:42:19 pm by Mdhaas »
Jason Vogler
Realtor - Ex Loan Guru
314-566-0919 direct


Offline sqlamzo

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Re:Disputing credit score
« Reply #13 on: January 27, 2007, 04:28:54 pm »
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

Offline John_in_NC

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Re:Disputing credit score
« Reply #14 on: January 27, 2007, 04:47:45 pm »
why would you pay somebody to do this for you?

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