Question - "hypothetically" OC charged off account. CA is listing the account. Is the CA allowed to pull an inquiry (hard)?
Butch, If I'm not mistaken the FCRA says actual damages of $1000.00 whichever is greater for pulling your credit file w/o a permissible purpose. That being where the $1000.00 comes into play that everyone talks about. I must also add when I file a suit over an unauthorized inquiry I am also suing for FCRA $623, which states that duites of furnishers of information to provide accurate info and or correct such, list as in dispute, etc... Even though an inquiry is just an inquiry it is still information on your credit report that they are furnishing and you are disputing with them. So when I filed suits it was for several violations of the FCRA and my state's laws. I asked not for $1000.00 but for $4000.00 as I could prove damages just in the denial letters listing reasons for denial as being just for too many inquiries. I also have over the last several months a couple of high intrest loans which I can show I am paying more because of these extensive inquiries. I would not have a problem suing for just the fact that they shouldn't be doing what their doing. At the very least I would win a meager amount and get back my court costs anyway. I will sue for any violations of my rights no matter how small they might be. Tac
Quite! Thanx for the correction. I was getting FDCPA and FCRA confused. LOL § 616. Civil liability for willful noncompliance [15 U.S.C. § 1681n] He may still have a tuff time demonstrating "willfulness" though, don't ya think?
I think you're right tac. The attorney that I talked to says he's gettin about 5k per inquiry. Charlie
My reasoning and by actually keeping the entire contents of the FCRA in mind is this.... Yes it may just be an inquiry and a person or company may have inadverntly pulled and reviewed a copy of your credit report but..... They haven't just caused an inquiry to happen they have...... 1. Produced and supplied degrogatory info about you. 2. Conveyed to potentinal creditors that this company has taken a look at your credit report and thus since there's no account opened by them they have denied you credit. Thus why would a real company your really applying for credit with want to consider you? 3. This inquiry and new negative and unaccurate information has caused your FICO score to lower as a result. 4. I apply for a prime card where they want a score of say 725 but because of this not so simple unauthorized inquiry my score is only 723. Results=Automatice denial. 5. As information on your credit report your not just going after them for the money, you are in fact disputing the information the company is supplying about you on your credit report and you should also sue for other violations of the FCRA as well, and yes they do apply! 6. Finally, they have invaded your privacy, and caused defamation of your character. If at the very least the company should have in place reasonable and adequate safeguards to ensure I was not damaged by their at the very least negligent conduct and actions. Tac
Folks - We're collectively geting our undies tied up in knots here. First, and FOREMOST, if you have a relationship (open credit account) I'm 99.9% sure your cardholder/accountholder agreement grants them permission to get information from your bank, employer, credit bureau ... any source deemed necessary for the approval, maintenance, or collection of your account. If you filed suit, not only would it most likely be summarily dismissed, you would be at risk of getting counter-sued for filing a frivolous suit. I know it sucks - and if they remove it, that's great... but they don't have to. -mj
mj, You're completely right if YOU have an account with THEM, but if you don't that's a different story. If you already have an account with them THEY should only pull a soft. I would call a company if I had an account with them and ask them to please change it to AR or something similar. I bet that they would be glad to help, unless you are terribly behind in payments. If you are behind in payments, they may want to teach you a lesson that they have the power to hurt your credit. My opinion. How do you get that "hurricane looking legal symbol" ? Charlie
Here's the update: The inquiry was deleted within a matter of days! I am satisfied with the deletion and will not pursue it. I did, however, learn a few valuable lessons. 1) It is not obsessive overkill to check our reports frequently. Errors can occur randomly at any time. 2) The credit bureaus can move with amazing speed when they want to. (I've never seen anything corrected that quickly) 3) Even when you reach the credit-score summit, inquiries still ding significantly. (I only have one hard, which is due to fall off in 2 months) This 2nd (erroneous) hard still dropped my score by 6 points. (I think that is just Exp-- the other CRA don't seem to penalize as heavily for inquiries) Thanks to all for your input here. Calypso
ALL inquiries should remain, as dictated by law, jambe ================= What law dictates they have to report inquiries? LB 59
The IRS has a policy that once you get caught, you're busted. The phylosophy is that you wouldn't have come forward were it not for the fact that you got caught in the first place, so the fact that you then correct the problem is of no concequence.
