Collection agency and credit report

[joma44]

Can a collection agency get a copy of my credit report?

Cant seem to find anything on that.

thanks

[joma44]

Only people with a legitimate business need can get a copy of your report...this includes debt collectors. When collectors receive or purchase past due debt, they have a legitimate reason to pull and review your credit reports.

In practice, banks and big corporations often pull out credit reports without a "permissible purpose". I am not talking about the "soft inquiries" you are talking about. Soft inquiries are made on regular basis for your creditors and don't hurt your credit score..."Hard inquiries" do, and mean some one is using your identity to take a loan or buy a house (horse,boat,diamond) under your ssn. These debts will come aftr you later if you don't protest. This crime is known as "Pretexting". FTC site explains it well.


In theory, is a difficult task. Reality check: corporations and banks are the true customers for the credit agencies, not us, the people. Have you noticed credit reports are almost always full of errors? What a coincidence! The lower our score is the higher interests we have to pay onour loans. Self-explanatory, self-evident.

[charlesa6]

Originally Posted by joma44

Can a collection agency get a copy of my credit report?

Cant seem to find anything on that.

thanks

Yes, collection agency can get a copy of your credit report before they decide to pursue the collection for lender.If you have a sort of tangible asset they can put the lien on.

[Jerseee]

Originally Posted by Eureka

In practice, banks and big corporations often pull out credit reports without a "permissible purpose". I am not talking about the "soft inquiries" you are talking about. Soft inquiries are made on regular basis for your creditors and don't hurt your credit score..."Hard inquiries" do, and mean some one is using your identity to take a loan or buy a house (horse,boat,diamond) under your ssn. These debts will come aftr you later if you don't protest. This crime is known as "Pretexting". FTC site explains it well.


In theory, is a difficult task. Reality check: corporations and banks are the true customers for the credit agencies, not us, the people. Have you noticed credit reports are almost always full of errors? What a coincidence! The lower our score is the higher interests we have to pay onour loans. Self-explanatory, self-evident.

This is the most lucid response I have seen so far on this issue. Eureka, you've done your homework and you can see beyond the obivous into the fraud. Keep this up and you will see that you will be operating on a level that rivals any loan officer.

Great job and terrific post!!!! My hat is off to you.

Thanks for your kind words, Jerseee, but I could never discern it on my own. I learned that about the CAs "the hard way", meaning is not my opininion but an ABSOLUTE TRUTH.

[Jerseee]

Originally Posted by Eureka

Thanks for your kind words, Jerseee, but I could never discern it on my own. I learned that about the CAs "the hard way", meaning is not my opininion but an ABSOLUTE TRUTH.

Eureka,

Don't dismiss your education so easily. "The hard way" is usually the best way since you get more education out of the situation. I value experience and one can usually remember their battle wounds more vividly versus their reading.

Great job nonetheless!!!