topic Re: How does a pull for employment affect your score and... in Understanding FICO® Scoring

How does a pull for employment affect your score and...

cw81 — Tue, 15 Jul 2008 21:04:25 GMT

How does a credit pull for employment affect your score and I am looking at my report and there are 2 inquiries for the same company and I am like why .... is that right ? its on the same day see below . Please advise.

The following companies have received your credit report. Their inquiries remain on your credit report for two years

EDS-GOTECHNOW via HIRERIGHT

2100 MAIN STREET
SUITE 400
IRVINE , CA 92614
(800) 400-2761

Requested On:
Inquiry Type:
Loan Type:

06/25/2008
Individual
Employment

Permissible Purpose: EMPLOYMENT

EDS-GOTECHNOW via HIRERIGHT

2100 MAIN STREET
SUITE 400
IRVINE , CA 92614
(800) 400-2761

Requested On:
Inquiry Type:
Loan Type:

06/25/2008
Individual
ID Report for Employment

Permissible Purpose: EMPLOYMENT

Re: How does a pull for employment affect your score and...

Anonymous — Tue, 15 Jul 2008 21:09:57 GMT

Since they are both coded correctly as PP for Employment this does not affect your score.

Message Edited by 1111mel on 07-15-2008 02:09 PM

Re: How does a pull for employment affect your score and...

cw81 — Tue, 15 Jul 2008 21:55:12 GMT

Thanks but why 2x ..... as long as it doesnt affect my score its cool I was getting a little hot around the collar

Re: How does a pull for employment affect your score and...

Anonymous — Wed, 16 Jul 2008 03:09:00 GMT

Who knows, maybe two different people in HR thought they were supposed to be the one to check up on you.

Re: How does a pull for employment affect your score and...

Anonymous — Wed, 16 Jul 2008 19:21:03 GMT

Which "PP"'s hurt your score and which ones do not? For example, does "Collection" as a reason always result in a hard INQ or should this be a soft INQ?

Re: How does a pull for employment affect your score and...

RobertEG — Sat, 19 Jul 2008 03:50:45 GMT

A CA may make a permissible hard pull of your CR at any time the account remains in collection, without your prior approval. See FCRA 1681(a)(3)(A, and litigation on this issue as set forth in Pinto v. Pacific Creditors Accoc.,(9th Cir 2007), 504 F.3d 792, for a thorough discussion of this.

They will make a hard pull since they want the full scope that this provides.

Re: How does a pull for employment affect your score and...

Anonymous — Sun, 20 Jul 2008 22:44:18 GMT

Robert - just CA's have this ability or any OC?

Re: How does a pull for employment affect your score and...

fused — Sun, 20 Jul 2008 23:47:21 GMT

RobertEG wrote:

A CA may make a permissible hard pull of your CR at any time the account remains in collection, without your prior approval.

Not if the collection is past CRTPs. Once the collection is past this, they cannot hard you.

Re: How does a pull for employment affect your score and...

RobertEG — Thu, 24 Jul 2008 04:25:28 GMT

Boscoe, that is a good question regarding CO and/or CA credit pulls. The FCRA does not give a specific definition of when a party has a "legitimate business purpose." I can only speculate based on logic.

It would seem to me that it would depend upon the terms of the contract between the OC and collection agency. An OC can assign collection responsibilities to a CA without total legal transfer of the debt to them, and would thus retain ability to sue for the remaining debt within the SOL. Abililty to retain legal debt collection rights would seem to me to qualify as a legitimate business purpose with regard to a credit transction with them, thus giving them the right do do a later credit pull.

Message Edited by RobertEG on 07-23-2008 09:25 PM

Re: How does a pull for employment affect your score and...

RobertEG — Thu, 24 Jul 2008 04:43:41 GMT

Legal basis for pull without permission for an account with an creditor or under collection is set forth in section 603(m) of the FCRA:

(m) Credit or insurance transaction that is not initiated by the consumer. The

term"credit or insurance transaction that is not initiated by the consumer" does

not include the use of a consumer report by a person with which the consumer

has an account or insurance policy, for purposes of

(1) reviewing the account or insurance policy; or

(2) collecting the account.