09-27-2009 02:56 PM
I got caught on the phone the other by a Collection Agent, looking to get me to commit to a payment on a judgment. As I've been out of work for the past 3 months, I didn't have the money to make a payment (through the mail) or arrange for a future payment (which he SO wanted). The Agent told me that I had a car (with a monthly note with Wells Fargo) that I should sell (as if that's prudent in Los Angeles) to free up money to pay the judgment. He also stated that he saw how i was up-to-date on my three remaining credit cards. Obviously, he had accessed my credit file to get the most up-to-date picture on my credit situation as possible. What are the federal regulations regarding this?
Needless to say, I told the CA to take a hike -- like I was really going to sell my car (probably at a loss and therefore still owe money to Wells Fargo), just so I can pay the judgment. And I refuse to get behind or skip payments on my CCs -- need to keep those current and reduce the UTL as quickly as possible. The way I see it, I'm already hurt as much as possible because of the judgment, so I will pay when I get a new job. Although I feel that I'm going to negotiate a different settlement (i.e. get them to Vacate The Judgment for PIF).
Thanks for any advice and/or information.
09-27-2009 03:02 PM
09-27-2009 06:39 PM
09-28-2009 03:06 AM
I would opt/out of all three CRB's. This will stop CA's from looking at your credit report. If I am wrong with this info someone step in to correct this please. Next plan to PIF or try to negotiate a settlement that will be paid in several months and with assurance that the judgment will be vacated from civil records. Make sure you have this in writing and save this document with your life. Good luck and May god bless you and God bless America.
I do not think opting out will prevent a creditor with permissible purpose from pulling your credit report.
09-28-2009 04:08 AM
09-28-2009 05:23 AM
I must agree that opting out does not prevent any CA or bill collector from looking at you credit report. it clearly states that on the opting out form. it you truly owe someone money and they sell the account to different CA. each of those new CA has the permissible right to pull your credit. they can also do so as a hard inquiry. I have seen on these threads where that has happened. they can do so as soft inquiry but if you dispute this with the CRA you will find out that they have the right to look to get you updaed address and any info to track you down and collect.
True. A creditor with permissible purpose can get your credit report whether one has opted out or not.
Regarding a CA making a hard pull, this is a subject that the FCRA fails to clarify. I have spoken with the FTC's Financial Practices Division extensively about this and they agree that when the FCRA was enacted there was little thought given to the differences between hard and soft pulls. They also suggested that people contact their elected representative to encourage them to revisit the issue since it is now of much greater concern than previously thought.
Also, the FTC FPD is of the opinion that, based on legislative intent, there are certain situations where a CA is not authorized to pull your credit report either as a soft pull or a hard pull. For example, they believe that if the debt is past the legal reporting period, the CA does not have permissible purpose -- most certainly not for a hard pull.
09-28-2009 09:24 AM - edited 09-28-2009 09:25 AM
The 9th district court has stated: Once an account is closed NO ONE has PP. An account must be closed in order to be placed in collections!
A CA never has PP to pull your CR because you did not ask them for credit!
Everyone should opt-out with the CRAs. When you opt-out it keeps the CRAs from selling you info.
They must have PP to pull CRs.
What is the DOPFD and your SOL?
Never talk to a CA!
09-28-2009 09:39 AM
Hey Happy, would you create a rough draft (or link us to one) that can be sent to the CB and the CA's in response to them doing credit pulls?
Opting out does not stop the CA's from peaking at the report, whether you have an account with them or not.
When I asked the CB to help me understand who had done "this" pull, she said it was a collection agency. She said it looked like they had just done a soft "to look around..". I told her that I had nothing in collections and NO ONE had permission to pull my CR! She deleted them, but still... THAT was wrong of the CA to do that. I am sure it will happen in the future too. I'd love to shoot them a friendly reminder of the law! Shoot = mail a letter, send them a fax, start a paper file of illegal documented illegal behavior.
09-28-2009 09:51 AM
This letter is mailed to the CA not to the CRAs. When anyone pulls your CR they must give a reason (code) to the CRAs..
You have a right to file a law suit to anyone that does without your OK.
Do not sign the letter, just type your name.