accout review pulls

[jdjlocksmith]

merrick bank is reporting a charge off account on ex and eq they remove the one on tu they are pulling my tu report every 3 months for account review

can they pull my report as an account review for a charged off debt that they are reporting?

[willingtocope]

Yep.

[jdjlocksmith]

i just found out they can not pull your report.

Section 604(a)(3)(F) (15 U.S.C. § 1681b] allows a consumer reporting agency to provide a consumer report to anyone who "has a legitimate business need for the information -- (i) in connection with a business transaction that is initiated by the consumer; or (ii) to review an account to determine whether the consumer continues to meet the terms of the account."

The relevant info is "As the previously-quoted legislative history makes clear, "review" of an account under Section 604(a)(3) refers to an existing (i.e., open or current) account.

Because there no longer exists any account to "review" and the consumer is not applying for credit, the FCRA provides no permissible purpose for the creditor to receive a consumer report from a CRA.

Section 616 of the FCRA says that they are liable to you for $1000 per impermissible credit report retrieval once the business relationship is terminated; they lose their rights to go in and do account reviews. They pulled my credit report 8 times after they closed and charged off this account which means any business relationship with them has ended.

FTC staff letters :

Gowen letter http://www.ftc.gov/os/statutes/fcra/gowen.htm

Benner letter http://www.ftc.gov/os/statutes/fcra/benner.htm

[willingtocope]

Honestly, I'm not sure that applies.

"Charge off" does not mean the account is no longer active. If they still own it, you still have a credit relationship with them.

On the other hand, if it says "charge off / sold to another lender" and the balance is $0, THEN your relationship is ended.