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#1779043 - 01/23/13 05:43 PM Cr. Report on Chrgd off Cust. w/o Permission?
rachelchri Offline
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Joined: Aug 2010
Posts: 165
We are currently starting to go through all of our charged off loans to contact customers for repayment. We have, in the past, been pretty laxed on this. We were wondering if we were able to pull a credit report on them, for we have no way of knowing their present address, or any other information that we could use to contact them.

Is this something we can do? or do we need signed authorization from them before we pull a credit report?

HELP!

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Lending Compliance
#1779053 - 01/23/13 05:51 PM Re: Cr. Report on Chrgd off Cust. w/o Permission? rachelchri
rlcarey Online
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rlcarey
Joined: Jul 2001
Posts: 83,227
Galveston, TX
Debt collection. A collection agency, detective agency, private investigator, or attorney has a permissible “collection” purpose under this section to obtain a consumer report on a consumer for use in obtaining payment of that consumer’s account on behalf of a creditor. A creditor may obtain a consumer report on an existing account to formulate its collection strategy. An attorney collecting a debt for a creditor client has a permissible purpose to obtain a consumer report on the debtor to the same extent as the client.

http://www.ftc.gov/os/2011/07/110720fcrareport.pdf
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