Credit repair

How do debt collectors respond to inquiries on credit report

Post reply Start a topic

Author

Message

Options

	Print this topic
	Invite a friend
	Email this topic

Bookmark online

	Add to del.icio.us
	Add to YahooMyWeb

vhdlboy2008
Guest

Subject: How do debt collectors respond to inquiries on credit report

Mon Oct 22, 2007 12:49 am

I would like to take a look at my credit report but I am worried that my debt collectors are going to respond to it (i.e. sue me before the SOL has expired on my debts). Is this a reasonable concern??

When I moved into my apartment, I had a credit check, and before long all my collectors were calling the apartment management and my neighbors. I have assumed that the credit check is what drew attention...

Are collectors able to look at my credit report whenever they want? I remember having a collector tell me what other debts he could see on my credit report- it made it sound to me as if they can take a look at it without it appearing as an official inquiry.

Thanks for any help!

Morningstar

Joined: 17 Apr 2007
Morningstar's page
Posts: 609

40 Magic Points

Mon Oct 22, 2007 2:47 am

To the best of my knowledge, personal inquiries do not show on the credit report that creditors obtain.

Collectors are generally permitted to look at your report, and it should not show up as a hard inquiry.
_________________
I don't dream since I quit sleeping

goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 3172

1091 Magic Points

Sun Nov 04, 2007 1:03 am

alot of them will sit idolly by and wait for you to apply for a loan or credit card, they get your updated information then. I have a sister who has not applied for anything in four years for fear that the phone calls will start up again. She can't afford to pay them and doesn't want the stress of the phone calls.

CreditGrantor

Joined: 01 Sep 2007
CreditGrantor's page
Posts: 33

2570 Magic Points

Tue Nov 06, 2007 3:16 am

Both Transunion and Experian (my company doesn't use Equifax...) have this feature called a "Watch". If a company sets a Watch on you (like a CA), then any time somebody pulls your credit, the bureau will send a fax to whoever set the Watch giving them information on who just pulled your credit.

So in your case the CA probably set a Watch on you, and then when your landlord checked your credit, the bureaus alerted the CA of that inquiry.

These Watches are only triggered by hard inquiries. You looking at your own credit is a soft inquiry and would not set off any alarms.

But to answer your other question, collection is a permissible purpose to pull one's credit, whether you give permission or not. As long as you owe a debt, they can check your credit so long as it doesn't constitute harassment (ie pulling it every day).

As an underwriter, when I look at people's credit, I have always seen collection agencies inquiries show up hard. (Granted, the credit reports I look a don't show a person's soft inquiries). But CA's subcodes always start with a "Y" so I know they are collection. It's a good indicator that someone owes money, even if the CA isn't actually reporting the account as a collection item.

goodnatured

Joined: 03 Nov 2007
goodnatured's page
Posts: 3172

1091 Magic Points

Thu Nov 15, 2007 2:02 am

CreditGrantor, thank you for the information, always good to have someone on the forum who works the industry and can give real life answers, I hope you will stick around, you will be a wonderful asset to this forum. Again, thank you for being here.

Laura

Joined: 21 Jun 2007
Laura's page
Posts: 1407

34560 Magic Points

Thu Nov 15, 2007 6:27 am

CreditGrantor has always been so resourceful with the answers. I am always grateful to him the way I have received answers from him.
_________________
Regards,
Laura.

Taylor
Guest

Tue Dec 04, 2007 1:42 am

Usually, if you request a credit report, they ask you for your current address information. This information you give will be used to update your records and will become available to your creditors.

george

george

Joined: 06 Jul 2006
george's page
Posts: 75

2859 Magic Points

Fri Dec 07, 2007 11:51 am

Hi Taylor,

How do I change my address? Can i dispute my address?
_________________
George Miranda

Money does not buy happiness. Happiness is found in being content with who you are and what you have.


Page 1 of 1

*Email:
*Password:
*Display Name:

	* denotes required field

*Email:
*Password:

	Forgot password?

*E-mail: