topic Re: Unauthorized Credit Inquiries in General Credit Topics

Unauthorized Credit Inquiries

Anonymous — Thu, 01 Feb 2018 23:03:10 GMT

Hi,

I have a question. I have been getting alerts for about a week saying that a company called Credco has been checking my reports. (about 12-15 at last count across all CRA's) and I have NO idea who they are. They are RUINING my credit! I have lost several points do due to "EXCESSIVE CREDIT INQUIRIES". What can I do? ANY help would be appreciated it.

Re: Unauthorized Credit Inquiries

thornback — Thu, 01 Feb 2018 23:16:21 GMT

You can dispute them with the bureaus (usually in writing or over the phone, not online) -- but this could result in having fraud alerts placed on your file.

Or, you can send Credco a letter asking them to remove. You can Google sample templates for inquiries made without a "Permissible Purpose".

Some collection agencies pull your file when they are preparing to collect or sue for a debt and that results in a hard pull - this is also considered a "Permissible Purpose" so is allowed without your authorization, though numerous excessive pulls may still give grounds to request removal of all but one inquiry.

Are your reports locked (not frozen, just locked)? Locking should prevent hard inquiries as access to your reports is only granted if you unlock them.

Re: Unauthorized Credit Inquiries

Anonymous — Thu, 01 Feb 2018 23:12:20 GMT

Lots of threads about them here in the forums in the last few years. If I were you I would read them all -- you may get some insight or advice about next steps.

https://www.google.com/search?q=credco+myfico+&ie=utf-8&oe=utf-8&client=firefox-b-1

Re: Unauthorized Credit Inquiries

Anonymous — Thu, 01 Feb 2018 23:18:40 GMT

Thanks for the replies. I will read the threads and then go from there.

Re: Unauthorized Credit Inquiries

Anonymous — Fri, 02 Feb 2018 00:46:37 GMT

wrote:
You can dispute them with the bureaus (usually in writing or over the phone, not online) -- but this could result in having fraud alerts placed on your file.

Or, you can send Credco a letter asking them to remove. You can Google sample templates for inquiries made without a "Permissible Purpose".

Some collection agencies pull your file when they are preparing to collect or sue for a debt and that results in a hard pull - this is also considered a "Permissible Purpose" so is allowed without your authorization, though numerous excessive pulls may still give grounds to request removal of all but one inquiry.

Are your reports locked (not frozen, just locked)? Locking should prevent hard inquiries as access to your reports is only granted if you unlock them.

If a collection agency or any current creditor has a permissible purpose they can still obtain your credit files resulting in a hard pull if they wish even if you have security freezes in place.

Including "locks".

Re: Unauthorized Credit Inquiries

trusty — Fri, 02 Feb 2018 07:16:20 GMT

wrote:
Hi,
I have a question. I have been getting alerts for about a week saying that a company called Credco has been checking my reports. (about 12-15 at last count across all CRA's) and I have NO idea who they are. They are RUINING my credit! I have lost several points do due to "EXCESSIVE CREDIT INQUIRIES". What can I do? ANY help would be appreciated it.

If you don't have any accounts with the company that pulled your reports, and have not applied with anyone on those dates; simply call the credit bureaus and ask for the fraud department... and open a fraud investigation into those applications to review your credit.

The onus is on the creditor to prove permissible purpose, particularly when it's not at all apparent to the named consumer. You definitely want to get out in front of any potential fraud that may be in the works against you.

Once the investigation is concluded, and things have gone back to normal... you may simply call the bureaus back and remove any lingering security alerts.

Re: Unauthorized Credit Inquiries

ChessChik47 — Fri, 02 Feb 2018 07:21:38 GMT

Credco is what appeared on my credit report when I got my mortgage through Quicken Loans...are you in the process of buying a house?

Re: Unauthorized Credit Inquiries

JVille — Mon, 05 Feb 2018 06:28:44 GMT

Credco IS a major provider of Mortgage Reports. They also provided the Mortgage (3 Bureau) for the Conv Loan I closed a week ago.

Re: Unauthorized Credit Inquiries

finfree — Mon, 05 Feb 2018 08:51:40 GMT

As others have stated, Credco accesses credit reports for lenders in connection with mortgage applications. I have two Credco HPs in connection with a mortgage I obtained last month. If you have not applied for a mortgage then this could indicate someone is trying to obtain a mortgage in your name.

In the process of obtaining my mortgage and obtaining CRs I discovered two unauthorized HPs (one each on EQ and TU); one was from Verizon. When I contacted Verizon they acknowledged someone fraudulently attempted to obtain service in my name. Verizon spotted it as fraud, never opened an account for the fraudster, but it still took me two months to get the HP removed (it was recoded as a SP). I found getting an unauthorized inquiry removed/recoded to be the most challenging correction I’ve ever obtained to my CR. I’ve now locked my CRs and have a fraud alert I placed on my accounts. If I ever discover an unauthorized HP in the future I will immediately file a police report as I think this helps get the inquiry removed.

Re: Unauthorized Credit Inquiries

Anonymous — Mon, 05 Feb 2018 11:24:27 GMT

Thanks for all the replies. No I have not applied for a mortgage recently and have filed disputes and placed a "freeze" on my reports. Thanks again for all the replies.

Re: Unauthorized Credit Inquiries

finfree — Mon, 05 Feb 2018 12:42:00 GMT

Just filing a dispute is likely not going to get the hard pulls removed- after all, as far as the CBs are concerned Credco did pull your credit so there’s nothing to correct. You have to “prove” to the CB that the pull was unauthorized and that requires either Credco prove up the application came from you and, if they can’t, request deletion/recoding, or extrinsic proof that you were a victim (this is where a police report comes in).

Re: Unauthorized Credit Inquiries

Anonymous — Mon, 05 Feb 2018 14:11:06 GMT

Chase removed hard inquires from Experian and change it to soft pull.

Problem solved

Re: Unauthorized Credit Inquiries

Anonymous — Thu, 07 Feb 2019 07:38:53 GMT

isn't a business required to have written consent to pull your credit? anyone know the USC or CFR on it?