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Has anyone had any luck disputing inquires? I did this in the past and was able to get 10 out of 40 taken off. Does anyone have an effecive method to get them removed?
In what way are they inaccurate?
They are accurate. I am trying to clean up my report. I know it isn't ethical but trying to find a way to get them off.
It is not worth disputing if they are accurate. After 1 year they stop affecting your score andafter 2 years they fall off and you can even try early exclusion but other than that worry about the other negatives and if you have none well then just let it sit and wait it out.
@CostantinoA wrote:Has anyone had any luck disputing inquires? I did this in the past and was able to get 10 out of 40 taken off. Does anyone have an effecive method to get them removed?
Don't do it, it's a quick way to get your reports flagged for fraud and get locked out of disputing things without having to go the paper route. The effect of INQs isn't a big deal on your credit profile, certainly not worth the issues that will come from trying to dispute them off.
If you want to clean up your reports, focus on collections, charge offs, and other adverse accounts. INQs are the least of your concerns.
After about 7 or 8 inquiries, I don't think these even have an impact on your score. On top of that, the total impact of inquiries isn't that much on the score.
The bigger issue is some creditors just don't like to see a lot of recent inquiries on your report since it shows risky behavior.
The best way to remove them.... one of the best kept secrets of the credit industry, but the absolute best way to remove them is....... quit app'ing. Yeah, I know, that isn't any fun.
Dan
Disputing inquries is pointless. As others said, it will get you fraud alerts and grief.
I have read a recent thread on the other major credit board and there someone wrote of having very good luck writing to lenders and requesting that they delete inquiries. This person claims that many of them agreed and converted the coding from an HP to an SP.
If you want to go this route, it is sort of a goodwill letter campaign to remove them.
I'm not sure it's worth the effort though.
Thanks for the replues. I have 90 on one report. That is from 3 auto loan purchases in the last 11 months. I just wanted them to drop off. I was hoping to get a score increase.
Be aware that if you do attempt to dispute inquiries, they are explicitly exempted from the direct dispute process under the implementing regulations at 16 CFR 660.4
The only dispute route is via the CRA.
The CRAs consider credit inquiries to be factually supported as long as the inquree has provided a statement of permissible purpose under one or more subsections of FCRA 604. They will summarily deny disputes over credit inquires unless there is documentation of lack of any permissible purpose.
@CostantinoA wrote:Thanks for the replues. I have 90 on one report. That is from 3 auto loan purchases in the last 11 months. I just wanted them to drop off. I was hoping to get a score increase.
With 90, I would just forget it. By the time you write all the letters, two years will be up Also, you likely would not see any score bump until you got them down to less than 10. There is a maximum amount of score damage that inquiries can do. I'm going to say 15 points. But you would likely lose those 15 points with 10 inquiries. From 10 to 200, there is no more damage except on manual review.
For scoring purposes, each of your auto loan app sessions would score as one inquiry even though they still all appear. So for score purposes you aren't getting hit bad for auto loan inquiries if they are coded correctly.
After six months the impact goes down and they have no impact after 12 months. For the second year they are just unsightly, like acne on your otherwise pretty credit reports.