Posted BAD Equifax - 497 BEACON - Only 6 INQUIRIES, yet they are the #4 reason!!!!

Regarding the inquiries from collection agencies and existing lenders:

You need to contact them to have them "recode" those inquiries as account reviews.


Re. inquiries from companies you don't know:

It's my opinion that the credit bureaus HAVE to provide you with their contact information. Obviously, if they don't, you could never sue anyone for unauthorized inquiries.

Equifax has not been of any help with disputing these inquiries. They have told me the only way I can dispute them is to contact the companies that actually ran my credit and get them to remove them. Is this really the case?

Yes. Experian's current policy to let people dispute inquiries on-line is a violation of the FCRA (as I read it.)

How much does excessive inquiries hurt your score?

That depends on the number of inquiries, the timing, and the REST of your credit. Once you have several recent inquiries, another 50 won't make a difference.

Has anyone ever experienced a creditor deliberately trying to destory your score by doing multiple unnecessary credit checks?

Wouldn't surprise me, but can't say that I've seen that. Many companies run the credit every month or two, but since they code as A/R it doesn't make any difference.

Can you post what Equifax sent you?

Were inquiries one of your Beacon score factors?

If my horror story can be of any assistance to any one else here, I'd be glad to post my full credit report to serve as worst case scenario!

Not only would it help other readers, but I'd really like to see this myself.

Having the INQUIRIES as one of the 4 main score factors on a report like yours (no offense! :) ) sure is evidence how important they are.

497 is pretty low!

I separated the inquiry and the Equifax/judgment/Ch. 7 postings.

Originally from Disputing Inquiries With Equifax - 4 hard inquiries by collection agency (http://www.bayhouse.com/credit-forum//showthread.php?s=&threadid=231)

1/3/2001: I copied this thread to the Credit Scoring section and deleted all "non-inquiry" postings.

I had sent this report to Fair, Isaac for an explanation, and I am NOT happy with Mr. Quinn's answer, posted below.

This is more PROOF that Fair, Isaac are a bunch of liars and their scores are just not functioning, i.e. it's fraudware.

Christine

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I recently ordered a copy of my Equifax/Beacon score reports, they are terrible, but also contained several inaccurate items, which I put into dispute. It also 14 inquiries, some of which are from collection agencies and delinquent accounts on my file. There are even a few I have never heard of.

The problem is one my creditors ran my credit twice on the same day and a total of 5 times in a 4 month period, or in another case the same creditor ran my credit three days in a row. All of these appeared as hard inquiries on the report. Equifax has not been of any help with disputing these inquiries. They have told me the only way I can dispute them is to contact the companies that actually ran my credit and get them to remove them. Is this really the case? The creditor names are abbreviated on my report and I have no idea how to even reach them.

How much does excessive inquiries hurt your score? Has anyone ever experienced a creditor deliberately trying to destory your score by doing multiple unnecessary credit checks?

Thanks Christine, useful info as always!

This is a very condensed version of what Equifax sent to me with my low FICO score.

Factors affecting your score.

First Reason Code: 38, "Serious delinquency, and public record or collection filed".

Second Reason Code: 13 "Time since delinquency is too recent or unknown".

Third Reason Code: 34 "Amount owed on delinquent accounts".

Fourth Reason Code: "Too many inquiries last 12 months".

Again this is just a brief summary of explaination that came with my score. As for my score itself, a very low 497! But I'm starting to process of rebuilding my once "A" credit. If my horror story can be of any assistance to any one else here, I'd be glad to post my full credit report to serve as worst case scenario!

Your Credit Profile as of 11/11/2001
This Credit Profile will be available for review for 30 days. If you would like a current Credit Profile you should order another Credit Profile from the Member Center under Other Equifax Products and Services.




Personal Data

John Doe
123 Elm St.
Atlanta, GA 30310
Social Security Number: 123-45-6789
Date of Birth: 00/00/0000


Previous Address(es):
123 W Oak Rd Apt C,
Greensboro, NC 27000

1234 Maple Pkwy,
Stone Mountain, GA 30000

Employment History
XYZ Instruments Location: Anytown, US Employment Date: Verified Date:
Previous Employment(s):
ENGINEER At T
Location: Employment Date: Verified Date:
Public Records

Bankruptcy Filed 09/1999; Northern District of GA; Case or Other ID Number XXXXXXX-DSP-11/99; Individual; Personal; DISMISSED CH-13;
Bankruptcy Filed 06/1994; Northern District of GA; Case or Other ID Number XXXXXXX; Individual; Personal; CH-13 FILED;

No liens on file

Judgement filed 02/2001; Dekalb County State Court; Case or Other ID Number XXXXXXX; Amount $19519; Defendant-John Doe; Plaintiff-First Investors Financial;

No garnishments on file

No secured loans on file

No marital statuses on file

No financial counseling on file

No foreclosures on file

No non-responsibility entries on file

Collection Accounts

Client: Mpower Communic Account Number: XXXXXXXXXXXX Date Reported: 07/2001 Amount: 197 Balance: 223 Balance Date: 07/2001 Last Activity:02/2000 Date Assigned: 04/2000 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: Allstate Adjustment Bureau
2785 E Desert Inn Rd Ste 210
Las Vegas,NV 89121-3624
Status Date: 07/2001 Note:


Client: KROGER Atlanta Account Number: XXXXXXXX Date Reported: 04/2000 Amount: 123 Balance: 123 Balance Date: 04/2000 Last Activity:10/1999 Date Assigned: 02/2000 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: L.J. Ross & Associates
6360 Jackson Rd Ste 1
Ann Arbor,MI 48103-9597
Status Date: 04/2000 Note:


Client: Atlanta Heart G Account Number: XXXXXX Date Reported: 11/1998 Amount: 270 Balance: 270 Balance Date: 11/1998 Last Activity:01/1998 Date Assigned: 08/1998 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: Hollis Cobb Associates, Inc.
1100 Johnson Ferry Rd NE Ste 1
Perimeter 400 Center
Atlanta,GA 30342-1739
Status Date: 11/1998 Note:


Client: Storage XXX Ha Account Number: XXXXX Date Reported: 11/2000 Amount: 215 Balance: 215 Balance Date: 11/2000 Last Activity:08/2000 Date Assigned: 09/2000 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: Cornerstone Credit Corporation
335 Meriden Rd
Waterbury,CT 06705-2004
Status Date: 11/2000 Note: COLLECTION ACCOUNT


Client: Dish Network Account Number: XXXXXXXX Date Reported: 08/1999 Amount: 137 Balance: 137 Balance Date: 08/1999 Last Activity:02/1999 Date Assigned: 05/1999 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: Credit Management
4200 International Pkwy
Carrollton,TX 75007-1912
Status Date: 08/1999 Note:


Client: Winn Dixie Account Number: XXXXXXXX Date Reported: 03/2001 Amount: 108 Balance: 108 Balance Date: 03/2001 Last Activity:10/1999 Date Assigned: 10/1999 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: United Compucred Collections
4190 Harrison Ave
Cincinnati,OH 45211-4546
Status Date: 03/2001 Note: RETURNED CHECK


Client: Winn Dixie Account Number: XXXXXXXX Date Reported: 03/2001 Amount: 145 Balance: 145 Balance Date: 03/2001 Last Activity:10/1999 Date Assigned: 10/1999 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: Status Date: 03/2001 Note: RETURNED CHECK


Client: Winn Dixie Account Number: XXXXXXXX Date Reported: 03/2001 Amount: 79 Balance: 79 Balance Date: 03/2001 Last Activity:10/1999 Date Assigned: 10/1999 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: Status Date: 03/2001 Note: RETURNED CHECK


Client: Winn Dixie Account Number: XXXXXXXX Date Reported: 03/2001 Amount: 103 Balance: 103 Balance Date: 03/2001 Last Activity:10/1999 Date Assigned: 10/1999 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: Status Date: 03/2001 Note: RETURNED CHECK


Client: Duke Power Comp Account Number: XXXXXXXXXXXXXX Date Reported: 01/1998 Amount: 453 Balance: 453 Balance Date: 01/1998 Last Activity:12/1996 Date Assigned: 08/1997 Collection Status: UNPAID Whose Account: INDIVIDUAL ACCOUNT Collection Agency Information: Credit Bureau of Greensboro
PO Box 26140
Greensboro,NC 27402-6140
Status Date: 01/1998 Note:



Credit Information

Company Name Account Number Date Last Type of Account High Items as of Date Reported Date
and Whose Acount Opened Activity and Status Credit Terms Balance Past Due Reported


American Express XXXXXXXXXXX
INDIVIDUAL ACCOUNT 03/1991 09/1993 Open
PAYS AS AGREED $129 $0 10/1993
Prior Paying History




--------------------------------------------------------------------------------

American TV&Appl-Coupon XXXXXXXXX1-156XXXX
INDIVIDUAL ACCOUNT 11/1988 11/1995 Revolving
CHARGE-OFF $573 $0 02/1998
Prior Paying History
30 days past due 00 times; 60 days past due 00 times; 90 + days past due 07 times;
ACCOUNT TRANSFERRED OR SOLD


--------------------------------------------------------------------------------

Atlanta Gas Light-District 10 XXXXXXXXXXXXX
INDIVIDUAL ACCOUNT 02/1993 09/1999 Revolving
120+ DAYS PAST DUE $307 $307 $307 09/2001
Prior Paying History
30 days past due 00 times; 60 days past due 00 times; 90 + days past due 20 times;
UTILITY


--------------------------------------------------------------------------------

Bell South Mobility - GA XXXXXXXXXXXX
INDIVIDUAL ACCOUNT 12/1995 11/1996 Open
CHARGE-OFF $575 $0 12/2000
Prior Paying History

PAID CHARGE OFF
UTILITY

--------------------------------------------------------------------------------

Citifinancial XXXXXXXXXXX1XXXX
INDIVIDUAL ACCOUNT 09/1993 10/1996 Installment
PAYS AS AGREED $3275 76 $0 10/1996
Prior Paying History

PAID ACCOUNT/ZERO BALANCE


--------------------------------------------------------------------------------

EFG Technologies XXXXXXXXXXXXXX
INDIVIDUAL ACCOUNT 01/1986 05/1995 Installment
120+ DAYS PAST DUE $2100 83M $0 05/2001
Prior Paying History
30 days past due 00 times; 60 days past due 00 times; 90 + days past due 05 times;
STUDENT LOAN


--------------------------------------------------------------------------------

First Investors Financial Svcs XXXXXXXXXXXXXX
INDIVIDUAL ACCOUNT 10/1998 07/1999 Installment
CHARGE-OFF $19519 549 $0 03/2001
Prior Paying History
30 days past due 00 times; 60 days past due 00 times; 90 + days past due 01 times;
CHARGED OFF ACCOUNT
AUTO

--------------------------------------------------------------------------------

GMAC Mortgage XXXXXXXXXXX
INDIVIDUAL ACCOUNT 02/1993 03/1999 Installment
120+ DAYS PAST DUE $89404 807 $0 05/2000
Prior Paying History
30 days past due 07 times; 60 days past due 02 times; 90 + days past due 09 times;
FORECLOSURE
REAL ESTATE MORTGAGE

--------------------------------------------------------------------------------

ITT Financial Services XXXXXXXXXXXXXX
INDIVIDUAL ACCOUNT 03/1991 05/1993 Installment
PAYS AS AGREED $4068 113 $0 05/1993
Prior Paying History

CLOSED ACCOUNT
SECURED LOAN

--------------------------------------------------------------------------------

Relia Star Mortgage Corp XXXXXXXXXXXX
INDIVIDUAL ACCOUNT 02/1993 04/1995 Installment
WAGE EARNER PLAN $89404 814 $0 02/1998
Prior Paying History

ACCOUNT TRANSFERRED OR SOLD
REAL ESTATE MORTGAGE

--------------------------------------------------------------------------------

Rollins Acceptance Corp XXXXXXXXXXXX
INDIVIDUAL ACCOUNT 02/1995 12/1995 Installment
CHARGE-OFF $951 36M $951 08/1996
Prior Paying History

CHARGED OFF ACCOUNT


--------------------------------------------------------------------------------

Wells FARGO Financial XXXXXXXXXXXXX
INDIVIDUAL ACCOUNT 05/1993 03/1997 Installment
120+ DAYS PAST DUE $4859 145 $0 04/1998
Prior Paying History
30 days past due 05 times; 60 days past due 02 times; 90 + days past due 13 times;
PAID ACCOUNT/ZERO BALANCE
REAL ESTATE MORTGAGE

--------------------------------------------------------------------------------

Wells FARGO Financial XXXXXXXXXXXXXXX
INDIVIDUAL ACCOUNT 02/1992 11/1992 Installment
PAYS AS AGREED $1896 79 $0 12/1992
Prior Paying History

CLOSED ACCOUNT
SECURED LOAN

--------------------------------------------------------------------------------

Additional Information

Companies that Requested your Credit File

11/11/2001 Equifax Consumer Services

11/10/2001 ID-Equifax Consumer Services, Inc

11/10/2001 Equifax Consumer Services

11/04/2001 Equifax - Disclosure

09/21/2001 CBC National Collections

08/15/2001 Canadian Imperial Bank

08/11/2001 ID-Equifax Consumer Services, Inc

08/05/2001 Verizon Wireless

02/02/2001 DTC-Northeast Utilities

01/06/2001 CBC National Collections

01/04/2001 CBC National Collections

09/01/2000 FK-Clinton A. Harkins P.C.

06/14/2000 FK-First Investors

06/14/2000 FK-1st Investors Financial Svc

05/26/2000 Macey,wilensky, Cohen & Wittne

05/01/2000 FK-Gregory J Barro & Assoc

05/01/2000 1st Investors Financial Svc

12/18/1999 The CBE Group, Inc.

12/17/1999 The CBE Group, Inc.

12/07/1999 FK-First Investors

11/17/1999 Associates Recovery



THE FOLLOWING INQUIRIES ARE NOT REPORTED TO BUSINESSES:
PRM - This is a promotional inquiry in which only your name and address were given to a credit grantor so you could be solicited you with an offer such as a credit card. (PRM inquiries remain on file for 12 months.)
AM or AR - These inquiries indicate a periodic review of your credit history by one of your creditors (AM and AR inquiries remain on file for 12 months.)
EQUIFAX, ACIS or UPDATE - These inquiries indicate Equifax's activity in response to your contact with us for either a copy of your credit file or a request for research.
PRM, AM, AR, INQ, EQUIFAX, ACIS and UPDATE inquiries do not show on credit files that businesses receive, only on copies provided to you.



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Equifax Consumer Services, Inc.

I had submitted the entire report to Fair, Isaac asking:

* Why are "inquiries" coming up as the 4th reason code for a file with a BEACON score of 497?

Mr. Quinn responded:

"Up to four reason codes are provided with each FICO score. These are provided in hierarchy of importance of their impact on the score, the first having the largest impact and so on. There are inquiries appearing on this credit report and they were evaluated by the score. The score determined that the presence of inquiries in this specific situation was the 4th most substantial reason why this file did not score higher. Reason codes 1-3 represent more significant reasons why the score was not higher.

In addition, you have questioned the accuracy of the inquiry information we have posted on myFICO. I have reviewed this information and all content regarding inquiries on the myFICO site is factual and completely accurate."

Apparently he thinks I'm an idiot. His letter is posted in it's entirety at I'm really getting tired of Fair, Isaac -- time for some law suits? (http://www.bayhouse.com/credit-forum/showthread.php?s=&threadid=280)

Notice how Mr. Quinn said NOTHING!!! It's a skill few people mastered, and I'm sure he gets paid very well for sending out long letters without saying ANYTHING.

I actually wasted my time to go to their myfico site. Mr. Quinn didn't even give me a link in his letter. I found NOTHING on inquiries! I couldn't even find the search function! Does Mr. Quinn expect me to read entire web sites?

I'd like some ANSWERS, please, Mr. Quinn:

WHAT does your web site say about inquiries? And where would that be? It USED to say that inquiries have a VERY minor impact on scores. I've seen the 10% figure.

Am I counting the inquiries correctly as only 6 in the last 12 months, with 3 of them so old, they're about to drop off?

You have the ENTIRE credit report.

WHY are these FEW inquiries SOOOO important, they become the number 4 reason factor?

It looks to me like inquiries HAVE to account for MUCH more than 10%. How do YOU calculate 10%? 10% of what?

I'd sure like to know,

Christine Baker

Receipt of fax to Mr. Quinn:

CONFIRMATION OF YOUR FAX TRANSMISSION
FAX STATUS: SUCCESSFUL TO 14154929381
COUNTRY: 1-NORTH AMERICA
TRANSMISSION: 04-Jan-2002 02:31:17 GMT.
DURATION: 1 Minute
TOTAL COST: $0.11

Thanks Christine for trying to get an explaination out of Mr. Quinn!

I recently ordered another copy of my Equifax/Beacon Score after disputing a few items on the previous posted report. With the fall off of 4 Hard Inquires, removal of Duke Power Collection account, obtaining a secured Future Card $300 limit, adding 3 new inquries, my Beacon Score now stands at...... 540 up from 490 in less than three months???? Whats with that "snakeoil" software they use?

I saw you had inquiries from the CBE Group. I live in the Cedar Valley Area here in Iowa. I am guessing you live somewhere in Northeast Iowa, because I have dealt with them before. I have had decent luck getting them to delete credit inquiries from my file. You just have to dispute a few times. Let me know when you see this if you are indeed from around here.

Who are these guys CBE? Are they a collection agency? Their inquires have fallen of my credit report now, they have not ran any new inquiries as of 2/2002.

They are located in Waterloo, Iowa, and are a branch of the Equifax Credit Bureau. It is like Equifax's local office here in the Cedar Valley Area.

Creditors actually have a word for the illegal practice of ruining someone's credit through excessive hard inquiries. It's called "poisoning" the credit file, and -- amazingly -- this is not an uncommon practice.

A personal friend whose credit I'm helping to clean up explained the appearance of ONE HARD INQUIRY PER MONTH by one creditor this way: "Oh, I pissed him off by refusing to cave into his threats regarding an unpaid gas bill, so he promised to hurt my credit one way or another." Obviously, he has serious cause for legal action.

It's usually the smaller, uninformed collection agencies who think they have free reign to poison credit files. In other words, you probably won't find Sears or Citibank doing something like that on their own behalf.

Doc

Everything I've read to my understanding say they run as many inquiries as they want if they are trying collect a debt. Equifax won't allow you to dispute inquires, instead they refer you back to the creditor, which is what the creditor wants anyway. The only hope I see is getting the CRA to re-code these malicious inquiries as account reviews, which I've had no luck doing.

The FCRA needs to be amended to address the inquiry classification by the bureaus as well as the type of inquiry (industry code) as utilized by Fair Isaac and credit scoring software.

I'd like to hear about any law suits relating to inquiries.