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by Paul MankinIs the debt collection agency Amyfin, LLC harassing you?
Debt collection is a scary business. With the cutthroat nature of the business, companies can appear and disappear faster than their information can be found. Because of this, the multitude of scammers that have cropped up have saturated the business, making it difficult to tell who is legitimate, and who is not.
Scammers can work in many ways, either by impersonating a legal and currently working debt collection agency, or by finding what is known as a “Shell” Company. These shell companies are businesses that have long been out of business, and yet still retain their name and partial information on the internet, making them seem legitimate if a scammer were to pick one up.
Here is what you need to know about Amyfin LLC, and how to keep yourself safe if you are contacted by a representative from them.
What is Amyfin, LLC?
Amyfin LLC used to be a debt collection agency in 2015. They had their Better Business Bureau file opened in 2016, and go by the alternative names AMYFIN Collection Agency and recovery, as well as AMYFIN Amy Financial. They were owned by Marcin Wierzba, who was listed as the president of the company. They were said to work out of Illinois, and were serving the Chicago and Northern Illinois areas.
Is Amyfin, LLC a legit Debt Collection Agency?
If you had asked this question about 5 years ago, the answer would have been yes. However, currently, the BBB has them listed as an out-of-business company. This means that it is very likely that someone contacting you stating that they are from Amyfin, LLC, might be a scam.
Amyfin, LLC Contact Information
All information is considered outdated and improper. If you are contacted with this information, then it is a scam.
Address: 1821 Walden Office Sq Ste 130 Schaumburg, IL 60173-4267
Phone: 847-754-4498
How do I protect Myself against Scammers using Amyfin LLC’s Name?
This can be a difficult and tricky business, as being contacted by a debt collection agency can be harrowing. They will attempt to use any method available to them to try to elicit a payment from you, from harassing and threatening you with physical abuse, to calling you nonstop. Some scammers and agencies even use robocalls, having you called on a certain intermittent pattern so that you are forced to answer them.
The best way to fight against them before they start to harass you is to screen all of your calls and mails. If they say they are from Amyfin or any other Amyfin companies and agencies, you are able to hang up immediately. Many scammers are not looking for responses, but for voice patterns. If you speak to them, technology today is able to replicate your voice, and they may try to steal your identity in a worst case scenario. So do not give them any more time than is necessary.
How can I protect myself and fight back against Amyfin, LLC?
If you are being harassed by them by a human representative, who continues to push the envelope stating that they are from a legitimate company, you may want to look into hiring a debt collection attorney or lawyer. We here at the Law Office of Paul Mankin, APC have plenty of experience dealing with scammers and illegal representatives looking to try to take your money illegally. We can assist you in building a case against these people, as well as identify their harassment, and put a stop to it. If they continue, we can also help to report the harassment of the debt collectors to the proper authorities, ensuring that they are put under watch so that they cannot harm any other consumers.
Not only can we help you to defend against harassment, we can also help to build a case, and assist you in understanding where the illegal collection patterns are for debt collectors. We are also able to help facilitate any communications or discussions between the parties, ensuring that nothing you say can be used against you.
The most important bit of information in your fight is to always remain vigilant. No matter who you have at your side, it can seem like a daunting battle against such a large company and agency. If you have ever been the subject of:
- Multiple calls per week from a third party collection agency
- Multiple calls in the early morning or late night from debt collectors.
- Violent and belligerent language and harassment from debt collectors.
- Threats of arrests or poor credit due to outstanding debts.
- Having your friends, family, and coworkers harassed from debt collectors.
- Automated robocalls from third party collection agencies.
Then you may have a case available. So do not wait, make sure to give us a call, and get started fighting back against the debt collection harassment.
by Paul MankinIs Chase Bank Calling You?
JPMorgan Chase & Co.
JPMorgan Chase & Co. (Chase) is an international financial services company. Chase is one of the oldest financial institutions in the United States. The company was founded in 1799 and is headquartered in New York, New York. The company operates in approximately 5,100 branches and employs approximately 256,105 people.
Chase divides its services into four (4) segments: Consumer & Community Banking, Corporate & Investment Banking, Commercial Banking, and Asset & Wealth Management. The Consumer & Community Banking segment provides personal banking, debit and credit card services, residential mortgages, home equity loans and auto loans.
Chase is not accredited by the Better Business Bureau. To be accredited by the Better Business Bureau a company must demonstrate trust, honesty, transparency, responsiveness, and integrity. In fact, the Better Business Bureau gives Chase an “F” rating for failing to respond to numerous consumer complaints, having numerous outstanding and unresolved complaints, and having Government action taken against the company.
As one can imagine from its rating, Chase has received a significant amount of consumer complaints related to their debt collection practices. According to the Better Business Bureau, 2,573 complaints have been filed against Chase in the last three (3) years. Of those 2,573 complaints, 746 were related to billing and debt collections. Many of the complaints allege that Chase has sought to collect debt owed by another person or has sought to collect more than the debt owed.
In 2015, the Consumer Financial Protection Bureau (CFPB) took action against Chase for engaging in unlawful debt collection practices. The CFPB is a Government agency that is tasked with protecting consumers from unfair, deceptive, or abusive practices and is authorized to take action against companies that violate consumers’ rights. The CFPB found that Chase sold bad debt to third-party debt buyers. Chase sold debt that had been previously paid in full, discharged in bankruptcy, identified as fraudulent or not owed by the consumer, or time-barred.
As a result of these unlawful practices, Chase was required to cease collecting on 528,000 accounts, to pay approximately $50 million in refunds to consumers, and to pay a $30 million civil penalty.
Creditors and debt collectors should be held accountable for these unethical and unlawful practices. If you are being harassed or subjected to any of these, deceptive, or abusive debt collection practices, it is time to hold Chase accountable. Please contact our office for a free, no obligation consultation at 1-800-219-3577.
by Paul MankinIs the debt collection agency Aspen National Collections harassing you?
There are many companies that hold the same name. Aspen National Collections shares a name with other such debt collection agencies that are currently in practice. But are they a real debt collection agency? Or are they dabbling in more illegal practices, ones that you should be careful for? Here is what you need to know about the debt collection agency Aspen National Collections, and what you should do if you are contacted by them.
What is Aspen National Collections?
Aspen National Collections is listed as a debt collection agency with multiple locations of business. They work to serve the New Mexico and Southwest Colorado areas, and are based out of the Colorado area as well. They share a similar name with Aspen Financial, and actually are also known as Aspen National Financial, Inc. Mr. John Brewer is listed as the President, Principal Contact, and the Customer Contact on the Better Business Bureau website.
Is Aspen National Financial a legit Debt Collection Agency?
They are considered to be a legitimate debt collection agency, even with such a fanciful name. They were started in 2000, with their BBB file opened in that same year. They became accredited through the BBB in the end of November of 2000. They currently hold an A+ Rating with the BBB, with no customer reviews.
Aspen National Collections Contact Information
Address: 827 Rood Ave Grand Junction, CO 81501-3433
Website: http://aspennational.com/collections/
Phone Number: 1-970-263-7320
Other Phone: 1-800-283-2797
Other Phone: 1-800-981-9420
Fax Number: 1-970-263-7309
Does Aspen National Collections have Complaints against them?
Aspen National Collections do have quite a few complaints made against them. On the BBB database, there is one customer complaint, made in November of 2019. It was closed the following day with a message from Aspen National Collections directly.
There are no complaints listed in the Consumer Financial Protection Bureau’s Consumer Complaint Database for Aspen national Financial. However, there are listed complaints for their alias, Aspen National Financial Inc. On the CFPB’s CCD, there are 89 complaints that have been made against Aspen National Financial Inc. These complaints range in variety, but all have been made due to improper techniques used by Aspen National Financial Inc.
What kind of Complaints have been made?
These complaints primarily deal with the issue of improper debt collection methods. Of the 89 complaints made through the CFPB’s CCD, 86 of the complaints were about debt collection issues. Specifically, this was about Aspen National Collection attempting to collect improper amounts, using misdirection and misinformation in an attempt to con consumers into paying for debts that sometimes are not even theres.
Many of the complaints also list aggressive and threatening language being used when representatives had called to discuss the debts. These aggressive and threatening attempts at debt collection are highly illegal, and could land Aspen National Collections in extremely hot water.
In 2012, Aspen National Collections found themselves in just that. According to PACER, the Public Access to Court Electronic Records website, there was a case between one Gail Lockhart and Aspen national Collections. In this case, they attempted to call Lockhart at her workplace multiple times every day. This could go up to even 3 times per day.
Because of this, Ms. Lockhart ended up suing Aspen National Collection for violating the Federal Debt Collection Practice Act. These violations included:
- Harassing with abusive and threatening language
- Threatening legal action
- Calling at improper times
- Calling her work when such calls were not allowed
This matter was later settled outside of the courts.
Are the Practices of Aspen National Collections Legal?
If true, many of Aspen National Collections actions complained of violate the Fair Debt Collection Practices Act (FDCPA). As stated above, the FDCPA protects consumers, such as yourself, against unlawful attempts at debt collection. Such debt collection tactics are considered harassment, as well as highly illegal.
How can I protect myself and fight back against Aspen National Collections?
If you have been contacted by Aspen National Collections, then there are some steps that you should take to protect yourself. The first thing you should do is to try to verify the debt. This can be done in a number of ways, such as asking who the original debt holder is, as well as verifying that the representative you are talking to is actually of the company they say they are. You are well within your right to get these items, and if they cannot provide them to you, you are under no obligation to pay the debt or make the payments.
If they continue to harass you, or attempt to continue calling you, then it is also within your right to get yourself an experienced and knowledgeable debt collector harassment lawyer or attorney. We here at the Law Office of Paul Mankin, APC have such a team, one that has a long history of successful lawsuits and cases against debt collectors that attempt to use illegal actions in an attempt to elicit payments. We are able to assist you in identifying the harassment of the debt collectors, stop the harassment and phone calls, and then report the harassment to the proper authority.
Not only can we help you to defend against harassment, we can also help to build a case, and assist you in understanding where the illegal collection patterns are for debt collectors. We are also able to help facilitate any communications or discussions between the parties, ensuring that nothing you say can be used against you.
The most important bit of information in your fight is to always remain vigilant. No matter who you have at your side, it can seem like a daunting battle against such a large company and agency. If you have ever been the subject of:
- Multiple calls per week from a third party collection agency
- Multiple calls in the early morning or late night from debt collectors.
- Violent and belligerent language and harassment from debt collectors.
- Threats of arrests or poor credit due to outstanding debts.
- Having your friends, family, and coworkers harassed from debt collectors.
- Automated robocalls from third party collection agencies.
Then you may have a case available. So do not wait, make sure to give us a call, and get started fighting back against the debt collection harassment.
by Paul MankinAre you being harassed by the debt collection agency AAA Collection, Inc.?
What is AAA Collections, Inc?
AAA Collections is a Collections Agency. The AAA is made up of a group of accounts receivable management companies that work to collect on debts and outstanding bills. They were started back in 1965, and have been in business for 54 years. AAA stands for Advanced Asset Alliance. Although they primarily provide third-party collections and debt resolution services, they also collect on medical billings and other such outstanding accounts.
Is AAA Collections a scam?
AAA Collections, Inc is not a scam. They are a legitimate debt collection agency that is headquartered in Sioux Falls, South Dakota. They also hold minor offices in North Dakota, Minnesota, Iowa, and Nebraska, and also serve in those areas as well. They hold a BBB rating of A+, although overall review on the BBB website holds them at 1 star through 3 customer reviews. They have been accredited through the Better Business Bureau since August of 2015.
Contact Information for AAA Collections, Inc
AAA Collections, Inc
3500 S 1st Ave Cir #100, Sioux Falls, SD 57105-5800
Phone Number: 1-(800)-611-7371
Other Phone: 1-(605)-339-1333
Website: http://www.aaa-coll.com
Does AAA have Complaints against them?
AAA has many complaints filed against them. Currently, the BBB has 9 consumer complaints filed on their website against AAA within the past 3 years. Through the Consumer Financial Protection Bureau’s consumer complaint database, Advanced Asset Alliance have over 20 lodged complaints against them within the past 3 years.
What kind of Complaints do AAA have against them?
There have been numerous egregious complaints against AAA and how they go about collecting on the debts. Consumers and customers have all attested to the harassing debt collectors using threatening and abusive language, as well as threatening physical livelihood of the debtor.
Through the BBB’s website, some complaints have noted emails and mail that contain improper and misinformation about bills or outstanding accounts. They have also been given the run-around by the debt collectors, making it difficult to even pay the debt off in the first place.
Through the CFPB, in regards to the harassing phone calls from debt collectors, they have also noted harassment from credit card companies as well. These debt collectors have also contacted many of the consumers’ close kin or workplaces, threatening legal action against family and friends alike.
There has also been complaints lodged against AAA containing complaints that AAA were threatening to release personal information and identities to improper companies and agencies if the debt was not paid. This harassment was even done to consumers that did not have any outstanding debts or bills to pay, that were then bullied into paying through various means of negative and abusive language.
How do I know if I have been Harassed by AAA Collections?
If you feel like you have suffered from AAA Collections harassment, know that there are many options out there for you.
The first step to the options is to understand that much of what AAA Collections has done could be illegal, and infringes upon the Fair Debt Collection Practices Act, or FDCPA for short. The FDCPA is a set of federal laws that regulates and monitors the behaviors of debt collection agencies. These laws maintain that a debt collection agency may not use threatening or abusive language when engaging in conversation with you; they may not harass or berate you through various means; and they may not use false or misleading information in an attempt to gather and collect on a debt.
Many of the examples of complaints that have been filed against AAA directly conflict with the FDCPA. For instance, if you have been receiving constant calls and letters with regard to a debt even though you have specifically requested to not have it done, then the practice they are performing may fall under the title of harassment. If the harassment from the debt collectors involves you being told misleading and false information about a debt, that would also fall under the FDCPA regulations and laws.
Can you help me file a No Fee Lawsuit against AAA Collections?
Absolutely. We here at this office can provide proper care and assistance in your ongoing battle with debt collector harassment. We offer debt collector harassment lawyers and attorneys who are able to walk you through the steps of how to report debt collector harassment, as well as how to stop debt collector harassment.
However, the most important thing to remember when fighting the harassment from debt collectors is to always be vigilant. Even with an experienced attorney by your side, you must pursue the violations in court to help recover money you may have lost due to their constant harassment. Depending on the violations that the debt collector may have practiced, you may be able to recover up to $1,000 for the violations of the FDCPA, as well as other monetary payments for such things like robocalls and harassing phone calls made to you or those that you know.
If you are being harassed by a debt collection agency, contact us at 1-800-219-3577 for a free no obligation case evaluation. We are experienced debt collection harassment attorneys.
by Paul MankinIs Bayview Solutions, LLC Harassing You?
Bayview Solutions, LLC
Bayview Solutions, LLC is a debt collection agency based in St. Petersburg, Florida. It has two different BBB profiles, each listing the same address and website. Bayview Solutions, LLC has been in business since 2008 and also goes by the names Bayview Risk Management Capital, Bayview Commercial Recovery, and BV Solutions.
Contact Information:
111 2nd Ave NE Ste 900
Saint Petersburg, FL 33701-3434
(866) 546-9088
Better Business Bureau complaints against Bayview Solutions, LLC include collecting for paid accounts because they “confused” them with other accounts, processing payments after being asked not to, hanging up on consumers requesting debt validation information, threatening to file lawsuits they do not intend to file, and telling consumers that they are not subject to BBB complaints. Three complaints filed with the Consumer Financial Protection Bureau allege that the agency attempted to collect more than the amount due, claimed to be an attorney, called a consumer at work, and did not make it clear who they were or for whom they were collecting during several different communications.
If Bayview Solutions, LLC is abusing or harassing you, please contact our office for a free, no obligation consultation at 1-800-219-3577.
by Paul MankinIs TRAF Group Harassing You?
TRAF Group:
TRAF Group is a debt collection agency located in Trenton, New Jersey. The company also operates under the names A-1 Collection Service, American Trading, and Credit America. TRAF Group is incorporated in New Jersey and has been doing business since 1964.
Contact Information
2297 Highway 33 Ste 906
Trenton, NJ 08690-1717
(609) 771-9200
Since 2016, a total of 16 complaints have been filed against TRAF Group with the Better Business Bureau (“BBB”). The Consumer Financial Protection Bureau, a federal agency that protects consumers from unfair, deceptive and fraudulent business practices has received 87 complaints against the company since 2013. Violations of the Fair Debt Collection Practices Act (“FDCPA”) alleged in these complaints include the company:
- Refusing to provide consumers with the name and address of the original creditor
- Failing to send consumers verification of the debt
- Continuing collection efforts without providing verification of the debt
- Failing to identify disputed debts as such
The FDCPA requires that a debt collector provide a consumer with the name and address of the original creditor, the amount of the debt, and notice that the consumer has thirty days to dispute the debt. The collector must also inform the consumer that if he/she disputes the debt within the thirty days, it will send the consumer verification of the debt. If the consumer disputes the debt within the given thirty days, the collector must provide that verification and stop all collection efforts until it has done so.
According to a majority of the complaints against TRAF Group, not only does it refuse to provide consumers with verification of a debt and continues its collection efforts once verification has been requested, but it also pursues collection efforts on debts that have been paid or discharged in bankruptcy, attempts to collect fees and charges not authorized by law, and falsely reports information to credit reporting bureaus.
Creditors and debt collectors need to be held accountable for these unethical and unlawful practices. If you are being subjected to any of these, deceptive, or abusive debt collection practices, it is time to hold the TRAF Group accountable. Please contact our office for a free, no obligation consultation at 1-800-219-3577.
by Paul Mankinis-the-debt-collection-agency-allied-trustee-services-harassing-you
What is Allied Trustee Services?
Allied Trustee Services was established in California in the greater Sacramento area on May 14, 1994 and incorporated in California on January 9, 2007. Operating under the name “Allied Trustee Services,” as well as under its alias “G&P Enterprises, LLC,” the debt collection agency serves as a non-judicial foreclosure trustee and collection agent for homeowners associations.
Is Allied Trustee Services a legit Debt Collection Agency?
Sort of. By all appearances, Allied acts on behalf of its creditor clients to exercise claims for unpaid homeowners association fees after the property is foreclosed or offered for sale. The business itself does appear legitimate. Allied Trustee Services has been recognized by the Better Business Bureau (BBB) since July 2001 but is not BBB-accredited and maintains D- BBB rating. The collector’s low consumer rating indicates they do not take consumer complaints seriously and/or simply fail to respond when complaints are reported to third parties, such as the BBB.
Allied Trustee Services Contact Information:
990 Reserve Dr Ste 208
Roseville, CA 95678-1392
(916) 960-0601 (fax)
(916) 960-0600 (phone)
What kind of complaints does Allied Trustee Services have against them?
Allied Trustee Services has received three BBB consumer complaints and 17 Consumer Financial Protection Bureau complaints during its time in business. The majority of consumer complaints against the collector involve problems making payment. In multiple specific cases, Allied Trustee Services attempted to collect allegedly unpaid HOA fees despite ultimately admitting timely receipt of all payments. In one case, the alleged debtor made 12 timely HOA dues payments via cashier’s check only to receive harassing calls and letters from Allied Trustee Services demanding 12 months’ worth of back payments. It was only after the homeowner sued Allied Trustee Services and the homeowners association that the HOA (and the collector) admitted receiving the checks and simply not cashing them.
Are Allied Trustee Services’s Practices Legal?
The complaints against Allied Trustee Services are particularly disturbing because they indicate a possible pattern of fraudulent practices whereby the HOA and/or collector intentionally fails to accept payment (e.g., doesn’t redeem cashier’s checks) so they can collect even more later in the form of interest, costs, and attorney fees. These practices are unlawful under the Fair Debt Collection Practices Act (FDCPA) and Rosenthal Fair Debt Collection Practices Act. A claim under the Fair Debt Collection Practices Act (FDCPA) could entitle you to up to $1,000 in statutory damages, actual damages, and an attorney at no cost to you.
How can I defend myself against a debt collector like Allied Trustee Services?
More information regarding complaints regarding California-based collectors can be found at https://oag.ca.gov/consumers/general/debt-collectors. Complaints regarding a collector in any state may be filed with the Federal Trade Commission at www.ftc.gov or (877) FTC-HELP (877-382-4357), and complaints regarding any collector or other business can be made at BBB complaints. To learn more about how the federal government regulates debt collection and protects debtors and other individuals from creditor and debt collector harassment, see FTC Debt Collection pamphlet.
If you believe you have a claim for collector harassment or are a victim of another violation of state or federal debtor’s rights, you should speak with a consumer rights lawyer or debt collection harassment attorney immediately. Contact us today to discuss your matter and see how we can help at no cost to you.
by Paul MankinAre you being harassed by the debt collection agency 4M Collections, LLC?
4M Collections LLC is a debt collection agency that has a few consumer complaints lodged against them for harassment and improper collection methods. Learn about who they are, and how to protect yourself from their harassment from the credit card companies.
Who is 4M Collections LLC?
4M Collections LLC, also known as Discovery Financial Services, is a debt collection agency that resides out of Vancouver, Washington. Founded in 1996, they have been in business for close to 23 years. They have one primary office, but are known to operate in smaller locations across the U.S.
Their primary business is to collect on debts and overdue payments through both Discovery Financial Service, and will also buy out some debts. However, they are known to collect on authority of many credit card companies. It has not been confirmed that they are connected with Discover Bank.
How can I contact 4M Collections?
They are located at 9707 NE 54th St Ste A, Vancouver, WA 98662-6345.
They are able to be contacted through fax and phone. These numbers are:
Fax – 1-(316)-604-8948
Phone – 1-(316)-604-8514
Their business management is headed by Ms. Melinda Chumbley, who is also their primary customer support contact.
Are they a Scam?
Unfortunately, they are very much legit and grounded. 4M Collections has been established since 1996, and currently hold an A rating with the Better Business Bureau. However, that does not take into account their customer reviews when getting the rating, and they are not BBB accredited.
How many Complaints are there against 4M Collections?
Against 4M Collections specifically, there are quite a few. According to the Consumer Financial Protection Bureau, there have been upwards of 19 total complaints against 4M Collections specifically. The Better Business Bureau has 3 consumer complaints listed as closed within the last 3 years, as well as 1 complaint closed as recently as the last 12 months.
Many of these complaints come from debt collector harassment. Specifically, the harassment came from credit card companies’ debts, and many of the debtors were getting harassing phone calls from debt collectors. In these cases, 4M Collections has been seen wrongfully calling debtors through wrong numbers, as well as calling anyone that appears to have the same name as the debtor in cases as listed on the CFPB.
Not only have there been complaints against 4M Collections, but the complaints against Discovery Financial Service have also included such practices as using ghosted or cloned phone numbers. In a complaint lodged on 05/02/2019 to the Better Business Bureau, a consumer states that their employer was the target of debt collector harassment through a usage of a ghosted number, and would be pried for information or business details.
These are just a few select samples of the complaints lodged against 4M Collections LLC, or Discovery Financial Service.
Can 4M Collections LLC do this to me?
What 4M Collections LLC has done to those that have lodged complaints is extremely illegal and goes against federal law. They can attempt to do so, and may resort to harassing through phone calls, emails, or physical mail as well. However, the length of time that a debt collector is able to harass you over a debt is minimal.
If you feel like you are being harassed by debt collectors, we have ways to stop debt collection harassment. If 4M Collections LLC has been threatening you, or attempting to coerce you to pay a debt that you do not believe is yours, do not hesitate to reach out and get proper help.
What can I do to stop the harassment?
There are a number of ways to deal with the debt collector harassment. The first thing to do, however, is to contact a debt collector harassment lawyer or attorney. An attorney will be able to set any situations straight, and ensure that you understand what harassment is, and label it as such. For instance, they will be able to walk you through the steps of how to report debt collector harassment, and identify the patterns and practices that would be considered harassment by a debt collector. These include practices such as ghosted phone calls, robo calls, and wrong number calls and misleading collection information.
However, there is one problematic issue. To ensure that you enforce your rights as a debtor and consumer, as well as ensuring that your recover your money and time for violations, you must push to sue 4M Collections. If you have been wronged by them, the laws provide individuals, such as yourselves, the proper tools and regulations to help seek monetary damages in a court of law.
If you are being harassed by the collection agency 4M Collections LLC, or Discovery Financial Service, please give us a call at 1-800-219-3577 for a free no obligation case evaluation. We are experienced debt collection harassment attorneys.
We will be able to get you the proper care that you need, as well as set you on the correct legal path to regain any lost time and money that may have been collected from you through undue and illegal means
by Paul MankinWho Can Access My Credit Report?
The Fair Credit Reporting Act (FCRA) was enacted in 1970 to promote financial privacy and to set ground rules for fairness in credit reporting. Under the FCRA, access to a consumer’s credit report is specifically limited, though perhaps not quite as narrowly as the average consumer might expect.
In general, third-party access to a consumer’s financial information is initiated one of three ways: at the consumer’s specific request; by virtue of the consumer taking a particular action; or on order or judgment issued by a court of law.
It might come as a surprise that specific express, written permission to access a consumer’s credit report is required in very few circumstances, namely by current or prospective employers. In most other circumstances, permission to access one’s financial information is implied by virtue of a consumer’s finance-related action. Such actions commonly include:
- Applying for credit.
- Soliciting a new investment.
- Initiating a business transaction.
- Applying for a finance-related license issued by the government.
Once a creditor has permission—whether express or implied—to access a consumer’s credit history, the creditor’s access is permitted indefinitely as long as they are an active creditor for the purpose of monitoring the consumer’s credit accounts. Once the original application is submitted, no further permission is required, and the consumer cannot prevent the creditor from future access as long as the credit account is active.
In other cases, no consumer permission or consent is required at all. Though it is possible to opt out, prospective creditors have, by default, the right to access a consumer’s financial information for the purpose of offering pre-approved extensions of credit (such as offers commonly received in the mail). Likewise, consumer consent is not required when a court orders access to their credit report (e.g., during collection proceedings or for the purpose of determining child support payments).
Notably, the FCRA also gives consumers access to their own credit reports. Every consumer is entitled to receive an annual copy of their credit report at no cost. For a fee, a consumer can purchase a copy of their full credit report at any time through, among other sources, one of the big three credit reporting bureaus.
A number of online vendors offer constant credit report access and monitoring for free with the option to pay for additional services (e.g., Credit Karma). While these services can be useful for monitoring, for example, whether inaccurate or outdated information is present on one’s credit report or whether a disputed trade line has been successfully removed or corrected, consumers should be cautious about relying on the credit scores provided by these services. Free credit monitoring services generate revenue in substantial part by suggesting paid services to help consumers improve their credit scores, so it is in the monitoring service’s interest to use an algorithm that generates consumer scores lower than they actually are (i.e., lower than on TransUnion, Equifax, or Experian).
Consumers can learn more about their right to a free annual copy of their consumer credit report at www.annualcreditreport.com.