Posted on: 09th Feb, 2010 08:15 am
I surf through web and find creditinquiryremoval.com. What they do? Do they remove inquiry in 24 hours? Any idea?
Sounds like a scam to me. If you want to remove an incorrect hard inquiry, write the creditor yourself and ask them to remove it.
I would be very cautious of any company that wants you to pay them money to do something you can easily do yourself.
If the hard inquiry is legit, it should be on your reports anyway. If it's not legit, then dispute it with the creditor and the CRAs.
If the hard inquiry is legit, it should be on your reports anyway. If it's not legit, then dispute it with the creditor and the CRAs.
i'm in agreement with the above answers. be very skeptical of any offers that promise you to eliminate something that is quite legitimate. also, beware of disputing things on your own credit report - fannie mae and freddie mac have altered their automated underwriting engines to bring a caution light out when those are spotted on a credit report. make sure that anything you dispute deserves to be disputed to begin with.
Hi,
It can be true that the advertisement is just a scam. It is always better to ask the creditor to remove the inquiries. If the creditor doesn't comply, one can always directly contact the credit bureaus and ask them to dispute the inquiries.
It can be true that the advertisement is just a scam. It is always better to ask the creditor to remove the inquiries. If the creditor doesn't comply, one can always directly contact the credit bureaus and ask them to dispute the inquiries.
disputes on credit reports are so prevalent that fannie mae and freddie mac have altered their automated underwriting models to take them into account - in a negative way. there are too many fraudulent disputes.
disputing someone's inquiry truly makes no sense to me. if i go car shopping and a dealer inquires based on my approval, why would i have the notion to dispute that inquiry...as an example. if i've shopped for credit, it ought to be duly noted - it's a warning to other creditors that i may be in the process of taking on too much debt, and that's valuable information. and, no, i don't want my score to drop, but let's be real.
disputing someone's inquiry truly makes no sense to me. if i go car shopping and a dealer inquires based on my approval, why would i have the notion to dispute that inquiry...as an example. if i've shopped for credit, it ought to be duly noted - it's a warning to other creditors that i may be in the process of taking on too much debt, and that's valuable information. and, no, i don't want my score to drop, but let's be real.
I'm curious how an automated underwriting model can determine the difference between a legitimate and fraudulent dispute?
I agree with you - there are way too many fraudulent disputes. However, the FCRA does provide consumers with a legal right to dispute inaccuracies on their credit reports. And we all know that CRAs aren't perfect. They make a lot of mistakes.
If I were disputing something that is legitimately incorrect, I would hate to think a lender's automated underwriting model is counting that in a negative way against me. That doesn't seem fair.
I agree with you - there are way too many fraudulent disputes. However, the FCRA does provide consumers with a legal right to dispute inaccuracies on their credit reports. And we all know that CRAs aren't perfect. They make a lot of mistakes.
If I were disputing something that is legitimately incorrect, I would hate to think a lender's automated underwriting model is counting that in a negative way against me. That doesn't seem fair.
Consumers should also be aware that a bunch of hard inquiries for the same thing in a short period of time, such as when you're shopping for a car loan, are not counted against you multiple times. The credit scoring model isn't meant to scare you from shopping around for the best rates.
In response to the Guest's question, I really don't know how an automated system could differentiate between legitimate and bogus disputes. I would think an underwriter would need to discuss the issue directly with an applicant to determine whether the dispute is legitimate or not.
In response to the Guest's question, I really don't know how an automated system could differentiate between legitimate and bogus disputes. I would think an underwriter would need to discuss the issue directly with an applicant to determine whether the dispute is legitimate or not.
i can't disagree about the fairness or lack thereof, guest. but there have been so many dubious disputes over the last few years that the investors have now built up this wall to kick the deal back to the underwriter to review. i agree that a good underwriter will review it, check with the client and see what it was about and adjudicate it properly after that information is gathered. keep in mind, though, that underwriters have to answer to higher-ups, and everyone in this industry is, in a sense, running scared these days.
It is impossible to permanently remove within 24 hours. removemycreditinquiries.org can remove them permanently for you but it takes 30 days.
Well, Mike, thanks for revisting this thing from February of this year; but I have to continue to warn people not to expect much from these services who make grandiose claims about fixing credit reports by doing something so minimal as removing credit inquiries.
Any time we pay for a service we need to be absolutely certain of the results and they'd better be favorable. Does this company really have a track record? Do these erasures of inquiries actually result in a credit score changing to any great extent? I find this all far-fetched, I'm afraid.
Any time we pay for a service we need to be absolutely certain of the results and they'd better be favorable. Does this company really have a track record? Do these erasures of inquiries actually result in a credit score changing to any great extent? I find this all far-fetched, I'm afraid.