Re: Re: Re: Re: Re: Re: signing check authorizes hard inq.? When I bought 15k worth car from a dealer using a third party check (which is from another bank) he gave me 2 options. 1. Fill out a credit application so that he can pull credit history only one time and 2*if he is satisfied he will let me take the car same day. 3*. Wait for the check 7 to 10 days to clear through the bank and then take the car. 4*These days checks are bouncing for many reasons he said. david1 =====================--------- ================= 1* 2* 3* 4*How would pulling your credit report show anything about the validity of another parties check? If They're concerned about the banks check not being good wouldn't they need the banks report instead of yours?????????????????. The END ************************* LB 59
Re: Re: Re: Re: Re: Re: signing check authorizes hard inq.? How can pulling YOUR credit report PREVENT or make a CHECK BOUNCE??? CHECK $15,000 DRAWN AGAINST FUNDS OF $7,500,000...YOU HAVE BAD CREDIT SO THE CHECK WILL NOW BOUNCE???
1*How can pulling YOUR credit report PREVENT or make a CHECK BOUNCE??? GEORGE~~A.K.A. RODNEY DANGERFIELD ++++++++++++++++++++++++++++++++++++++++++++++ =================================== When I bought a car from a dealer using a third party check (which was from another bank) I had to Fill out a credit application so that they could pull my credit report. 1*Especially in this case where they aren't even pulling the credit report of the payor of the check.
What about checks that do not require the consumers signature ? Seems that a good many if not most cases are of this nature.
Sorry, they have a permissible purpose. boywonder ======================== Only if they have a need for it to complete the transaction. In this case the transaction can be completed without the information so there is no need for the report thus no PP. The END ************************* LB 59
Re: Re: signing check authorizes hard inq.? The dealer should have called the bank, made sure the funds were available, and had the bank put a hold on the funds until the check cleared.
Re: Re: Re: signing check authorizes hard inq.? I think they would hide behind the portion of the FCRA that gives way for pulling reports for a legitimate business need, which is vague. But that does not eliminate the fact that they did not get the permission of the checkwriter.
Re: Re: signing check authorizes hard inq.? Ooops, I meant: But that does not eliminate the fact that they must get the permission of the checkwriter (before running their report).
Re: Re: signing check authorizes hard inq.? But they don't have to get permission for a legitimate business need, Only under 604(2) do they need written instructions. (2) In accordance with the written instructions of the consumer to whom it relates. (3) To a person which it has reason to believe .... (F) otherwise has a legitimate business need for the information
Re: Re: signing check authorizes hard inq.? Ok. I lose. Their only hope is to prove that this was not a legitimate business need, eh? Now to find get their reasoning for pulling a report in the first place...
Re: Re: signing check authorizes hard inq.? Exactly. If it were to happen to me, I would start fighting it as a no pp and try to find out what their reasoning is.
Re: Re: signing check authorizes hard inq.? Originally posted by GEORGE How can pulling YOUR credit report PREVENT or make a CHECK BOUNCE??? -------------------------------------------------------------------------------- The dealer should have called the bank, made sure the funds were available, and had the bank put a hold on the funds until the check cleared. "You may not get what you pay for, but you will pay for what you get." ============================================================ I don't see where pulling the customers credit report would give the dealer any information as to the validaty of a check belonging to another party thuse there is no PP to pull the customers CR.! The END ************************* LB 59
Re: Re: Re: signing check authorizes hard inq.? Originally posted by GEORGE How can pulling YOUR credit report PREVENT or make a CHECK BOUNCE??? -------------------------------------------------------------------------------- The dealer should have called the bank, made sure the funds were available, and had the bank put a hold on the funds until the check cleared. "You may not get what you pay for, but you will pay for what you get." ============================================================ I don't see where pulling the customers credit report would give the dealer any information as to the validaty of a check belonging to another party thuse there is no PP to pull the customers CR.! The END ************************* LB 59
Re: Re: signing check authorizes hard inq.? of the FCRA that gives way for pulling reports for a QUEEN_BEE =========================== Pulling my CR because of someone else's check is not a legitimate business need so there is no PP. The END ************************* LB 59
Pulling my report to check out another's checking account is not for a legitimate business need. The END ************************* LB 59
On more then one occasion they mentioned pulling a CR for accepting a check is PP. jason_l ============================ How can they have a PP to pull my report based on someone else's check? The END ************************* LB 59
