Quick question: I've been looking at my PG report and my question is, are the inquiries listed there hard inquiries? DH and I have a number that are from collection agencies. I still am not clear on PP, non-PP and all that, but do collection agencies have the right to pull hards, why can't they pull soft? Okay, maybe not so quick a question
I'm still writing my complete analysis of Section 604 in depth... There is no differential between hards and soft as far as the statute is concerned. Soft was put as a service to the consumer to allow company's to pull a report, which wouldn't affect the consumers score. Ergo, this is exactly why CA's usually OPT for HARD pulls. Because it DOES effect your score. If they can take 5-10 points for the HARD inquiry, and 25-50 points for the COLLECTION ACCOUNT; they can do 30-55 points of damage, to the consumer to make the consumer really want to get rid of them. Essentially the CA has a PP under Section 604(a)(3)(A) from the second the account is assigned to them.
