Ok...When anyone receives your credit report they must have a permissable purpose. I have a couple of accounts that have been charged to as bad debt. Now my question is, why are the creditors still doing ARs. I read somewhere that once the account has been charged off they can't pull your CR anymore. Any input?
I don't have the section of the law in front of me but I'm sure that they still have the right under "collection activity" or something like that. Furthermore, if it's AR it's not a hard inquiry so it won't hurt your score.
I don't have the section of the law in front of me but I'm sure that they still have the right under "collection activity" or something like that. Furthermore, if it's AR it's not a hard inquiry so it won't hurt your score. Although I see your point. If it's written off and turned over to collections it doesn't seem logical to bother reviewing your account. If they were actively collecting they could use that as a permissable purpose and then it would be a hard.
Thanks for your reply. I understand that it is soft inquiry and doesn't affect my score, but in my eyes, it doesn't matter. I don't think the have permissable purpose. I would love to find out that this is some sort of violation and use it to have my account deleted from the CRAs.
I think they have every right to pull your credit. Just because you haven't paid or they charged it off, doesn't extinguish their rights. They are pulling it obviously for collection purposes. I don't think they lose their right to pull your report until such time as the acct is paid and closed per the terms of the agreement of the acct.
