Federal Ruling >> CAs pulling credit may violate FCRA

Great information DC! Thanks for sharing this.
:D
Ang

I recieved a copy of this at work yesterday. Since my job is within the limits we are able to pull credit reports.

This isn't really going to affect that many CA's, since I think most CAs deal with credit card accounts, and that is still okay for them to pull your credit.

I wonder where along the lines utility/phone bills fall under. Are they considered a credit transaction? Same thing with medical collections, those aren't really "credit" either. So this may stop a few of your CA's from looking at your credit.

The only problem that I have of CAs pulling my report is when they do a hard pull, it affects your credit (negatively of course) and remains for 2 years. Others can do soft pulls and get about the same information. I remember reading somewhere in the FCRA that hard pulls have to be authorized by the consumer, is this correct?

Collectors have permissible purpose under the account review provision on the Fcra. I don't like that they can hard pull but have not seen any cases contesting this yet.

Well, why do some CAs only do soft pulls while others do hard pulls?

I think that would be more for credit cards where you give authorization for your credit to be pulled. If the creditor still owns the contract then their 3rd party they authorize has the ability, and if they sell your contract then whom they sell it to becomes your creditor kinda.

What about something like a medical bill, or anything else where no prior authorization was granted?

That case DC mentioned should cover medical debt.It is a new opinion so we will have to see what happens in the near future.

so is there any grass root organization out there or politician or any group in America trying to stop these agencies for being allowed to have easy access to private information? They should not be allowed any information until case has gone to court and has been satisfied in their favor-- who in our government is sleeping with the enemy?

I suppose that is a good question Guest, slightly paranoid, but still a good question...

On my credit reports there are a number of companies that have looked at my credit info, companies that I have NO dealings with, never! Thought they have to have your permission to do this......Any clues as to what I can do about this???