I actually found a pretty good letter. So I don't violate TOS I won't say where and so I don't violate copywrite laws I won't post the letter, but you too can Google 
. After reading through all the documentation I could find I've concluded that I'm going to allow the current investigations to complete before I start a new one concerning the inquiries. I'm worried that the credit bureaus might see my multiple investigations as frivolous and I really don't want that.
I have a very active credit file and it kills me that inquiries count against your score. If I haven't paid my bills on time all the time I would understand how requesting new credit might alert lenders that I'm over extended, however with my track record and payment history the inquiries shouldn't matter one bit. It really irks me that my scores can be affected so much by something so meaningless. If you want to make a living in real-estate expect to have 30+ inquiries on your account, trust me I know.
I don't carry any debt I can't afford to pay or literally pay-off if I need to. So why the heck and who the heck cares if 30 companies have requested my credit file? Obviously the lenders ... grrrr! Lenders have a double edged sword they need to fix. Creditors want to see inquiries to prevent over-extending consumers while at the same time it prevents good consumers from making a living when their bread and butter is in the mortgage industry.
Alright so anyway I think we can consider this closed, but as a final thought for the day, after my extensive searching regarding credit inquiries. Here's what I consider the final word.
Credit inquiries are a statement of fact provided by the CRAs to comply with government regulations of keeping records of who requested your credit file. They are there for your protection, but creditors use that information against you. To get inquiries removed you can NOT dispute them over the phone they must be disputed in writing enlisting the help of the CRAs to remedy willful non compliance on behalf of the credit requester (read: who actually pulled the file). The often used goose chase by CRAs to send you to the credit requester for documentation is a joke and as the CRAs know will only lead to frustration which they count on to make the dispute go away. The name of the game here is persistence, persistence, and well written certified mail return receipt requested. I'll also add that of the three bureaus the two that follow this guideline are Experian and TransUnion other results may be possible with Equifax.
As an FYI here's a blurb from the TransUnion site: "Most hard inquiries remain on your credit report for two years from the original placement. All inquiries must stay on your credit report for at least a year. You are allowed to dispute inquiries on your credit report, but it can be difficult to prove that the inquiry is indeed inaccurate. If you are unsure of where an inquiry came from, try contacting the company listed before sending off a letter of dispute."
So much contradicting information out there. Someone needs to publish a comprehensive guide about CRAs and what can and can't be done.
So anyway I'm waiting on some recent PIFs to hit my reports and we'll see if the only immediate remedy known to me really works or not.
TU-692 / EX-697 / EQ-758
Hey as a side note has anyone ever tried to re-open an account with Capital One. I closed this trade line after I got pissed off at them, but now after reading through this site think that was a mistake as it was one of my oldest revolving trade lines. Ouch! Problem I see is that I closed it over 4 years ago.
Thoughts and input welcome on all of the above. Take care all and remember keep to your goals and don't let anyone make you feel like it's impossible. If you don't do it there isn't anyone on the face of the planet that will or can do it for you.
- AZQ
. After reading through all the documentation I could find I've concluded that I'm going to allow the current investigations to complete before I start a new one concerning the inquiries. I'm worried that the credit bureaus might see my multiple investigations as frivolous and I really don't want that.I have a very active credit file and it kills me that inquiries count against your score. If I haven't paid my bills on time all the time I would understand how requesting new credit might alert lenders that I'm over extended, however with my track record and payment history the inquiries shouldn't matter one bit. It really irks me that my scores can be affected so much by something so meaningless. If you want to make a living in real-estate expect to have 30+ inquiries on your account, trust me I know.
I don't carry any debt I can't afford to pay or literally pay-off if I need to. So why the heck and who the heck cares if 30 companies have requested my credit file? Obviously the lenders ... grrrr! Lenders have a double edged sword they need to fix. Creditors want to see inquiries to prevent over-extending consumers while at the same time it prevents good consumers from making a living when their bread and butter is in the mortgage industry.
Alright so anyway I think we can consider this closed, but as a final thought for the day, after my extensive searching regarding credit inquiries. Here's what I consider the final word.
Credit inquiries are a statement of fact provided by the CRAs to comply with government regulations of keeping records of who requested your credit file. They are there for your protection, but creditors use that information against you. To get inquiries removed you can NOT dispute them over the phone they must be disputed in writing enlisting the help of the CRAs to remedy willful non compliance on behalf of the credit requester (read: who actually pulled the file). The often used goose chase by CRAs to send you to the credit requester for documentation is a joke and as the CRAs know will only lead to frustration which they count on to make the dispute go away. The name of the game here is persistence, persistence, and well written certified mail return receipt requested. I'll also add that of the three bureaus the two that follow this guideline are Experian and TransUnion other results may be possible with Equifax.
As an FYI here's a blurb from the TransUnion site: "Most hard inquiries remain on your credit report for two years from the original placement. All inquiries must stay on your credit report for at least a year. You are allowed to dispute inquiries on your credit report, but it can be difficult to prove that the inquiry is indeed inaccurate. If you are unsure of where an inquiry came from, try contacting the company listed before sending off a letter of dispute."
So much contradicting information out there. Someone needs to publish a comprehensive guide about CRAs and what can and can't be done.
So anyway I'm waiting on some recent PIFs to hit my reports and we'll see if the only immediate remedy known to me really works or not.
TU-692 / EX-697 / EQ-758
Hey as a side note has anyone ever tried to re-open an account with Capital One. I closed this trade line after I got pissed off at them, but now after reading through this site think that was a mistake as it was one of my oldest revolving trade lines. Ouch! Problem I see is that I closed it over 4 years ago.
Thoughts and input welcome on all of the above. Take care all and remember keep to your goals and don't let anyone make you feel like it's impossible. If you don't do it there isn't anyone on the face of the planet that will or can do it for you.
- AZQ