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Is there a section of the FCRA that requires credit inquiries to be deleted after two years? I've got several that should be deleted because it's been exactly two years and would rather not wait until the end of the month (time cited for deletion on my credit report), which would technically be past two years.
here is the section
605. Requirements relating to information contained in consumer reports [15 U.S.C. §1681c]
(a) Information excluded from consumer reports. Except as authorized under subsection
(b) of this section, no consumer reporting agency may make any consumer report
containing any of the following items of information:
(1) Cases under title 11 [United States Code] or under the Bankruptcy Act that, from
the date of entry of the order for relief or the date of adjudication, as the case may
be, antedate the report by more than 10 years.
(2) Civil suits, civil judgments, and records of arrest that from date of entry, antedate
the report by more than seven years or until the governing statute of limitations
has expired, whichever is the longer period.
(3) Paid tax liens which, from date of payment, antedate the report by more than
seven years.
(4) Accounts placed for collection or charged to profit and loss which antedate the
report by more than seven years.
as you can read
regular accounts 7 years
bankruptcy 10
judgments as defined by state law (20 to forever!)
Right, but I'm wondering specifically about credit inquiries, not negative marks. Is there a § of the FCRA that specifies credit inquiries must be removed after two years? I understand credit inquires should fall off after this time, but am looking for the specific section of the FCRA that would support this assertion.
A hard inquiry, which makes up as much as 10% of your FICO score, is logged anytime you apply for credit. That includes asking your credit card company for a credit limit increase or applying for a loan to buy a house or car. Hard inquiries stay on your credit report for 24 months, but only the last 12 month's inquiries effect your credit score.
I can't find any law on it except for whether the inquiries are permissable
Remove two year old inquiries.
Write a letter directly to your credit bureaus that you want the inquiries to be removed because they are two years old, do this with the help of a certified mail. In the letter you must write your name, date and social security number. This information will help the credit bureaus to locate your records.
Also provide information on the companies that inquired that is, whose inquires are two years old. Explain the credit bureaus that these inquiries are two years old and you want to remove them. Try and write several letters and your two-year old inquiries will be removed.
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wT5ej5 Really informative blog.Thanks Again. Will read on...