topic If a creditor has sold your account in General Credit Topics

If a creditor has sold your account

Anonymous — Sun, 13 Jul 2008 16:35:21 GMT

how can they have PP to do a inquiry on your credit file? Maybe I am reading too much into it but if the account was sold a year ago what legal right do they have to my CR?

Message Edited by guiness56 on 07-13-2008 09:35 AM

Re: If a creditor has sold your account

Anonymous — Sun, 13 Jul 2008 16:38:12 GMT

guiness56 wrote:
how can have PP to do a inquiry on your credit file? Maybe I am reading too much into it but if the account was sold a year ago what legal right do they have to my CR?

Message Edited by guiness56 on 07-13-2008 09:23 AM

Are you asking about the OC having PP after selling the account?

That is a new one.

FCRA 604(a)(3)(F)(i) states

(F) otherwise has a legitimate business need for the information

(i) in connection with a business transaction that is initiated by the

consumer; or

The business transaction was initiated by you(unless it was a fraudulent account due to ID theft), but what legitimate business need would there be if the account was sold?

I'm sure it would take a judge to determine the answer to this.

Re: If a creditor has sold your account

Anonymous — Sun, 13 Jul 2008 19:29:57 GMT

When an account is *closed* no one has PP to do a hard pull!!!! you must ask for credit!

Re: If a creditor has sold your account

haulingthescoreup — Sun, 13 Jul 2008 21:01:52 GMT

@Anonymous wrote:

When an account is *closed* no one has PP to do a hard pull!!!! you must ask for credit!

--or for a soft pull, for that matter. The only soft pull that would be permitted would be listed with a PRM- (promotional) prefix, meaning they only got your name and address so that they could send you some junk mail.

Looks like a violation to me.

Re: If a creditor has sold your account

Anonymous — Mon, 14 Jul 2008 04:52:16 GMT

This is for a voluntarily repossessed vehicle. I owe a deficiency. The OC sold the account and will not answer any of my questions. They refer me to the CA, Palisades, who deleted the account after I sent them a DV.

Now I am finding the OC has been pulling my CR but, it is still showing as sold as recent as June. It is still a CO but is being reported as ok every month.

Maybe the account was returned to them by Palisades and the OC is just not updating. It has been months since the CA account was deleted.