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First Franklin Financial Informative - They are the Worst! - Financial Mortgage Services

Review by peajay on 2008-03-03
OYSTER BAY, NEW YORK -- Don't use them! I had used them previously and I thought they could help me but instead they ran a credit report without permission. They never had the decency to call me back so now I have an extra inquiry on my credit report which I am told is almost impossible to remove. They do promise the world but they don't deliver!
Comments:3 Replies - Latest reply on 2008-03-04
Posted by Principissa on 2008-03-03:
Were you taking out a mortgage or refinancing your home? If so they are required to do a credit check before processing your paperwork to see how much you qualify for. If you gave them your social security number, you gave them consent.
Posted by madconsumer on 2008-03-03:
I think it is common nowadays for these places to automatically run a credit inquiry. they do this to determine who shall be allowed to have accounts with them.
Posted by FoggyOne on 2008-03-04:
Running 1 credit report does very little if anything to your credit standing. It is when a bunch are run in a fairly short period of time - in theory it indicates you can't get credit and keep looking. Your biggest hits are late payments, foreclosures, etc. This site seems to give some good information on what affects your credit score: http://www.lender411.com/mortgage-articles/index_desc.php?art_id=17 , number four on the list:

4. New applications for credit (inquiries): Frequent credit checks by lenders may indicate that a borrower is looking to increase his or her amount of debt.

But the key here is 'Frequent'. One check probably won't even move your score at all.

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