Can I trust?

[Anonymous]

I got an e-mail from experian today about an investigation result. At this time I was looking at my inquiries and there I found the information that this inquiries is not hurting my score. Because I'm looking for refinance I have 6 inquiries on my CR. 2 of them was without my permission and I am afraid, that I'm loosing points.

[MidnightVoice]

In theory enquires constitue 10% of your score, and any more than 2 (or maybe 3 or pehaps 4, it all depends) in the last 12 months will have some effect and lower your score. 

[Anonymous]

You lost points on the first one. The rest if done with in the same 2 week period barely hurt. However, still, they do add up over the course of a year. If done with out permission I would dispute with the big 3 agencies. Even if they don't hurt your score they still are on there adding up the total inquiries for the year. But applying usually does involve credit checks unless you specifically say NO, don't pull my credit. I don't know whether they are required to ask. I specifically say NO, don't pull my credit when hunting for best rate. If they pull it I dispute it. At the last minute when I decide on the lender I am going with I let them pull it. Only 1 inquiry.

[Anonymous]

Thank you for all the information. They was very helpful. Here is a question in addition. The first inquiry from one Lender was with my permission. To weeks later he pull my CR again on all the agencies without my knowledge and after I did,nt want to work with him. I thing this is not a got business. Can I dispute this inquiry?

[Anonymous]

Ask the credit reporting agencies. ie transunion, equi, exper. They can help you with that. Once you gave permission, it might allow them to repeat in the short term. Question is why did they do it twice?? Usually you only get 1 Hard inquiry, then the repeats are Soft inquiries. Are you sure they are all listed under Hard? Personally I would dispute it saying they did it twice by mistake and did not have permission the second time. But thats me.

.

However it is normal for them to pull it a few times to see if you qualify for a better rate since Fico score can change sometimes even daily. But I always thought repeats were soft inquiries. I would ask the reporting agencies. And I personally would dispute it. If their soft inquiries, just ignore them, they don't count.

Message Edited by ilovepizza on 05-18-2007 05:12 PM

[Anonymous]

Schnuller,

What are your FICOs?

Is that 6 INQs across all 3 CRs?

Are any of the INQs within the 12 months?

How soon are you looking to refi?

[Anonymous]

To anser your questions:

                           My scores are     612 / 588 / 547

                           my husbands are     642 / 586 / 574

                           All INQs are on all 3 CRs

                           5 INQs are in the last month (2 without my permission)

                           1 INQ is from the last year

[Anonymous]

Sorry, I send it to fast. The answer to the last question: We want to ref. as soon as possible to by out our bankruptcy and safe money every month. We have enough equity and we hate it to be in bankruptcy.

[Anonymous]

You're in a BK13? The inquires are the least of your worries. What other negatives are on your CRs?

[Anonymous]

Yes, we are in BK13. I have 3 collection Account - Medical Bill from my Breast Cancer and 1 account Leasing Car (Co-Signer). This account was dismissed by BK Court, there was no proof of claim. What I think is very negative - I wrote it earlier in an other message - our mortgage company took our 1. and 2. Mortgage from our CR's. This mortgages are not included in BK. We pay separate and since 24 month on time. This give us right now the most problems with lenders.