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chieferZzzz
Posts: 8
Registered: ‎12-05-2012
0

Question about hard inquiry

I had a company contact me yesterday regarding a collection account I had previously paid.  the cmpanies name is Asset management, they were calling for worldwide recovery.  I have a letter from worldwide from 2012 releasing me of any liabilities paid in full. Today I get an alert stating a new hard inquiry was done and it was done by asset management. Do they have the right to do that without my permission? they never said anything to me abour running my credit and why would they need to do a hard pull anyway? please help

Senior Contributor
DaBears
Posts: 3,930
Registered: ‎10-26-2012
0

Re: Question about hard inquiry


chieferZzzz wrote:

I had a company contact me yesterday regarding a collection account I had previously paid.  the cmpanies name is Asset management, they were calling for worldwide recovery.  I have a letter from worldwide from 2012 releasing me of any liabilities paid in full. Today I get an alert stating a new hard inquiry was done and it was done by asset management. Do they have the right to do that without my permission? they never said anything to me abour running my credit and why would they need to do a hard pull anyway? please help


No. the account was PIF and you have a letter stating so. I would send a DV CMRR asap. Another thing is they could have another account they are trying to collect on from you. is there any other unpaid debts you might have? 

 

DaBears!!!!

Mega Contributor
RobertEG
Posts: 18,182
Registered: ‎03-19-2007
0

Re: Question about hard inquiry

A debt collector has permissible purpose under FCRA 604 to pull your CR without prior permission, but the permissible purpose is dependent upon their having current authority to collect on a debt.

 

If the prior debt was satisfied at the time of their inquiry, they had no permissible purpose to receive your credit report.

 

As for how to handle it....

When requesting any credit report, the requestor must provde a statement of permissible purpose.  Is is their statement of active collection on a debt that is apparently inaccurate, and thus they provided an imaccurate permissible purpose to the CRA.

 

I would file a dispute with the CRA, asserting their lack of permissible purpose.

Only the CRA has in their files the statement of permissible purpose provided by the debt collector when making ther request for the CRA.

Include with the dispute your documentation of the fact that the debt was satisfied prior to their inquiry, and thus that they lacked permissible purose under section 604.

 

You might also file a formal complaint wiith the FTC for what is apparently a blatant violation of FCRA 604, and send a cc: of that complaint to the debt collector to put them on notice that the inquiry is being challenged.  They might delete immediately as a way to handle the subsequent letter they will know is coming from the FTC.

 

Established Contributor
ccnewcc
Posts: 560
Registered: ‎09-29-2012
0

Re: Question about hard inquiry

Whether or not they have a PP is really subordinate to the fact that their claim to have had a PP should have been coded as an Account Review SP.  Not a Hard Pull.  

 

...At least imo...

 

A HP would be created only with a consumer initiated approval for a CR to be released in connection with extending credit (to included lending and maybe investor/business relationships).  A PP for anything other than a consumer initiated approval for credit, would and should be coded as a SP = Promotional, Employment, Account Reviews, etc.

 

 

 

Regular Contributor
MaRain
Posts: 185
Registered: ‎04-05-2013
0

Re: Question about hard inquiry


ccnewcc wrote:

Whether or not they have a PP is really subordinate to the fact that their claim to have had a PP should have been coded as an Account Review SP.  Not a Hard Pull.  

 

...At least imo...

 

A HP would be created only with a consumer initiated approval for a CR to be released in connection with extending credit (to included lending and maybe investor/business relationships).  A PP for anything other than a consumer initiated approval for credit, would and should be coded as a SP = Promotional, Employment, Account Reviews, etc.

 

 

 


+1 

Out of the garden.



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