Anonymous Posted November 7, 2002 Report Share Posted November 7, 2002 Can a company continue to review your credit info if they have charged off and sold your account to another lender? On my Experian report, Sears is reporting that the account has been discharged and sold to another lender in September of 2000. On my Trans Union report I noticed that Sears reviewed my account in Septmeber 2002. Is this something I can sue Sears for? Link to comment Share on other sites More sharing options...
admin Posted November 7, 2002 Report Share Posted November 7, 2002 This is a fine line - they are not technically a current creditor, and they are not issuing you further credit, so I would say they are in violation. Why not write to them and ask what their permissible purpose was? You can't just run to court without giving them a chance to rectify the situation. Link to comment Share on other sites More sharing options...
wohlfie3 Posted November 8, 2002 Report Share Posted November 8, 2002 Cap one is doing the same thing to my husbands reports for a charged off account from 1997. About every three months they are hitting it with HARD inquiries and saying "collection purpose". Get real! They can easily do soft inquiries from their AR department if they need to look at the account. What can we do??? Link to comment Share on other sites More sharing options...
admin Posted November 8, 2002 Report Share Posted November 8, 2002 I'd write them and tell them that they need to remove them or get ready to pay up. Here's a letter...Your NameYour Address City, State ZipCreditor Legal Department November 7, 2002To whom it may concern: As per my Equifax credit report, your company obtained my credit file on 7/19/02. I don't recall applying for credit or employment with <creditor name>. From the FCRA § 616. Civil liability for willful noncompliance [15 U.S.C. § 1681n] "( Civil liability for knowing noncompliance. Any person who obtains a consumer report from a consumer reporting agency under false pretenses or knowingly without a permissible purpose shall be liable to the consumer reporting agency for actual damages sustained by the consumer reporting agency or $1,000, whichever is greater." From the 1998 FTC opinion letter Greenblatt at http://www.ftc.gov/os/statutes/fcra/greenblt.htm:"Any person who procures a consumer report under false pretenses, or knowingly without a permissible purpose, is liable for $1000 or actual damages (whichever is greater) to both the consumer and to the consumer reporting agency from which the report is procured." Please explain your permissible purpose for your obtaining my credit file. Should you not have a permissible purpose, please arrange for payment of $1,000 by November 15, 2002. Please respond via fax to (555) 555-1212. Sincerely, Your Name Link to comment Share on other sites More sharing options...
wohlfie3 Posted November 8, 2002 Report Share Posted November 8, 2002 Thanks! I will fire off a letter today. Link to comment Share on other sites More sharing options...
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