sventvkg Posted March 4, 2005 Report Share Posted March 4, 2005 Hi all...I have a car loan through Wells Fargo Financial that I fell about a month behind on consistantly for about 7 months or so..They pulled Hard inquiries on me 8 times!! Is this legal? We have a current loan through them and I wasn't applying for any other credit etc..This seems wrong and now my credit, due to this and several other mistakes that i'm about to start taking care of is 537...This is as bad as when I had 8 charge-offs and almost as bad as when I had to voluntarily repo a truck due to the fact it died and wasnt' worth fixing...If anyone knows if Wells Fargo Financial broke the law I would love to find out what I can do about it. Thanks. Link to comment Share on other sites More sharing options...
Methuss Posted March 4, 2005 Report Share Posted March 4, 2005 Codifying the inquiry as a "hard" pull would not be permissable purpose as far as I'm aware. I believe this would be referred to as "poisoning" a person's credit report. Link to comment Share on other sites More sharing options...
sventvkg Posted March 4, 2005 Author Report Share Posted March 4, 2005 Codifying the inquiry as a "hard" pull would not be permissable purpose as far as I'm aware. I believe this would be referred to as "poisoning" a person's credit report.Exactly..It seems to me that they are trying to decimate my credit for falling behind and not being able to catch up for 1/2 a year..I Paid them every month, it was just a month behind because I had originally missed one payment..Tough times and this can happen..So they get vendictive and ruin your credit....Personally I really don't care about credit because i'm never using it again other then the house we are about to buy..That's all I'm concerned with..Getting this mortgage..I'll never make a car payment again..Anyway, thanks. Link to comment Share on other sites More sharing options...
direred Posted March 4, 2005 Report Share Posted March 4, 2005 I have a car loan through Wells Fargo Financial that I fell about a month behind on consistantly for about 7 months or so..They pulled Hard inquiries on me 8 times!! Is this legal?They may pull for collections, but the pull must be a soft. The only time off-hand that I can think of where someone might be able to pull a hard for a collections account is in the case of a voluntary repo.FCRA 604©(3) defines a hard inquiry:Information regarding inquiries. Except as provided in section 609(a)(5) [§ 1681g], a consumer reporting agency shall not furnish to any person a record of inquiries in connection with a credit or insurance transaction that is not initiated by a consumer.FCRA 609(a)(5) defines a soft inquiry:A record of all inquiries received by the agency during the 1-year period preceding the request that identified the consumer in connection with a credit or insurance transaction that was not initiated by the consumer.The latter section was put in there as a consumer protection measure to show who a consumer's reports were being delivered to. Link to comment Share on other sites More sharing options...
sventvkg Posted March 4, 2005 Author Report Share Posted March 4, 2005 how do you tell the difference between a Soft and Hard inquiry? Maybe they are soft but I don't know how to tell the difference.....Thanks. Link to comment Share on other sites More sharing options...
direred Posted March 4, 2005 Report Share Posted March 4, 2005 how do you tell the difference between a Soft and Hard inquiry? Maybe they are soft but I don't know how to tell the difference.....Thanks.If it shows up on a third-party report (e.g. PrivacyGuard, myFICO), it's a hard inquiry.If it shows up on the "Requests viewed by others" section, it's a hard inquiry.If it shows up on the "Requests viewable only by you" section, it's a soft inquiry. Link to comment Share on other sites More sharing options...
Sultan Posted March 4, 2005 Report Share Posted March 4, 2005 Codifying the inquiry as a "hard" pull would not be permissable purpose as far as I'm aware. I believe this would be referred to as "poisoning" a person's credit report.I'll second that and I sent BOA a letter saying so, i'll stay on them too, the squeaky wheel gets oiled Link to comment Share on other sites More sharing options...
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