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Inquiry Letter - Response

New Member

Inquiry Letter - Response

I sent out letters to various companies that have pulled inquiries over the last year asking what they were for. Today I got an answer back stating the company had purchased a credit card debt from an OC therefor the inquiry was permissable. Also, that company sent me their first debt collector communication requesting $.

My question is... what do I do now? The OC DOFD is 3/2008 with a balance showing (the SOL here is 5 years). The CA isn't on my report (yet). Do I DV? I don't have the funds to request a PFD at this time.  Not sure ignoring it is a good option whereas that's what put us in this situation in the first place. 

Message 1 of 6
Moderator Emeritus

Re: Inquiry Letter - Response

This would be first contact so a DV would be timely.  Get that in the mail!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
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Message 2 of 6
New Member

Re: Inquiry Letter - Response

I'm on it.  Thank you so much Shogun! 

Message 3 of 6

Re: Inquiry Letter - Response

How do you DV?
Starting Score: 08/2012 myFico EQ616
Updated: 02/2013 myFico EQ646

Current Goal: 700
Message 4 of 6
Epic Contributor

Re: Inquiry Letter - Response

You send a 3rd party collection agency a request for debt validation.


I found this account ___________on my credit report, please validate.

Message 5 of 6
Community Leader
Legendary Contributor

Re: Inquiry Letter - Response

There is a relatively obscure permissible purpose under the FCRA that permits a potential investor or servicer to obtain a consumer credit report to evaluate or assess an existing credit obligation as to potential risks associated with acquring that obligation.  Investors obviously have pull with congress.

See FCRA 604(a)(3)(E).


Of course, once they acqire the account, they have other permissible purpose.

So the issue is one of whether it is required to be coded as soft vs hard, not whether they had permissible purpose.

The FCRA does not regulate coding, so that is an issue to take up with the CRA, who makes it a point not to publish their procedures for coding of inquiries.


Message 6 of 6