IS YOUR CREDIT SCORE BEING UNFAIRLY HARMED?
Do you know what companies are requesting your credit score?
If not, start here: www.annualcreditreport.com -- You are owed a free yearly credit disclosure through the three major agencies (Experian, Equifax, and TransUnion). You should find a series of known items here, but beware results that you may not recognize.
What does it matter?
When a company requests your credit information, it can hurt your credit score. An application for utility service might not cause this to happen, but an application for credit, a loan, or an insurance policy most certainly could.
Have I hurt my credit score unknowingly?
In short, the good news is no.
There are two kinds of credit “pulls,” which is how we refer to a company requesting your credit information.
A soft pull is the most common, and takes the form of pre-approved mail offers, simple credit checks from utility companies, and other small scale applications. A hard pull is more substantial, and will occur when you take part in applying for a new job, a car or home loan, and so forth.
You shouldn’t be worried though, because companies can only perform a hard pull of information when you give them permission to do so. This permission can be implied, so if you are just window shopping and do not want your credit pulled you need to tell the merchant that.
What if I find a “hard pull” from a company I didn’t give permission to?
That’s where I come in.
There are many instances where companies obtain your credit information, and do so without you knowing. When this happens, all of your future credit opportunities suffer, and you could face unfair denials, rates, and credit card limits.
You have rights that I will fight for in these instances, guaranteed under the FCRA/Fair Credit Reporting Act.
What entities violate these laws?
There are many groups and people that may illegally pull your credit, but the most common are:
Creditors whose debts have been discharged through a legally binding bankruptcy.
Legal situations, criminal proceedings, or arbitrations, where your credit may be used against you.
Merchants when you are just browsing.
I found discrepancies like you described. What should I do?
If you are the victim of an unauthorized credit pull you may be entitled to sue under the fair credit reporting act. If successful you could collect statutory damages of up to $1,000.00, actual and punitive damages, as well as attorney fees and costs.
Call me for a free consultation to determine the potential of your case.