Credit Cards Center Credit cards from our partners
Reply
Regular Contributor
Posts: 138
Registered: ‎06-04-2012
0

Interesting Article about debt collectors pulling your credit file

http://finance.yahoo.com/news/debt-collector-stop-pulling-credit-120039578.html

 

Highlighted portion:

A Credit.com reader, Lori, wanted to know if a debt collector could continue to pull her credit even after a small-claims case had been dismissed. She had successfully had the information removed from her credit reports, but the collection agency, which now had no case against her, had pulled her credit twice since the case was dismissed. Her question: Is that legal?

 

The answer is simple, according to Chi Chi Wu, an attorney with the National Consumer Law Center: No. In the organization’s legal manual Fair Credit Reporting, it says:

Even in the case of credit accounts, collection is not a permissible purpose for obtaining a consumer report once the account is no longer collectible.

Making the debt collectors stop checking, however, may not be easy. Lori may need to to complain to regulators and/or hire an attorney, Wu said. She can submit a complaint to the Consumer Financial Protection Bureau, or she could look for a lawyer (the National Association of Consumer Advocates has a list on its website).

EQ FICO 564 (3/12) Lender pull 673 (4/12) FICO 703 (6/13)
TU FICO 605 (6/12) to FICO 687 (3/13) Lender pull 680 (4/13)
EXP FICO lender pull (4/13) 651
Homeowner since September 2013!
Epic Contributor
Posts: 22,406
Registered: ‎01-17-2008
0

Re: Interesting Article about debt collectors pulling your credit file

Highlighted
Regular Contributor
Posts: 187
Registered: ‎04-28-2012
0

Re: Interesting Article about debt collectors pulling your credit file


guiness56 wrote:

That makes sense.

 

Once a debt no longer exists there is no PP.


Does that only count for hard pulls, or would it apply for soft pulls as well?

I used to post my scores here. However, I'm prone to motion sickness and the ups and downs were nauseating.
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.