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Hard Inq.


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Does anyone know if it is illegal for CA's to do Hard inqs every three months? :?

I have an account with Arrow Financial and they are pulling Hard inqs every three months.

A matter of fact they pulled a Hard inq May, June and July! :(

Whats up with this? :?

I love this Forum! :BigDance:

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We were debating this in another thread. I don't think it is legal for a CA to do a hard inq, ever, period. I'll post a link later today.

The question is who to smack around? I think it is the CRA.

The CRA's are going to try to pass the buck and say the CA determined the inq to be hard or soft or some other BS

FCRA says that the CRA's can't furnish to another creditor a list of inq's for anything other than credit or insurance transactions.

I would argue that since the CA's inq isn't related to a credit or insurance transaction, the CRA shouldn't be displaying it. Link to the statute coming soon.


Here we go: http://www.debt-consolidation-credit-repair-service.com/phpBB2/viewtopic.php?t=33782&highlight=providian+hard+inquiry+collection

FCRA says:

From: 604©(3)

(3) 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.

and the exception says:

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

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