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