Many people do believe that collection agency is not allowed to pull their credit report without their permission. But in reality collection agency may pull your credit report because after buying debts they qualify as creditors. Many of the creditors take your permission before pulling your credit reports but they are not supposed to ask for permission in accordance with Fair Credit Reporting Act, in most of the cases.
Your credit report is pulled by collection agencies for a number of reasons, such as they are missing your address then pulling your credit report would update them with your current address. Credit report is a document of great importance for a collection agency to capture your credit worthiness and financial position.
It would show the actual picture of your owed debts and judgments. You credit report is comprised of information about your phone numbers, owed properties, postal addresses and your employer. This info would be handy for collection agency to assess you to take decision, whether to sue you or not.
In accordance with Fair Credit Reporting Act (FCRA) everyone with a permissible purpose can pull credit report. Collection agencies and lenders hold the right to pull your credit report, so that they can access your credit report all times. No one is allowed to pull your credit report without permissible purpose.
In cases, where your debts have expired in accordance with Fair Credit Reporting Act then collection agency is not allowed to pull your credit report without your permission. If they do so then legally you could take them in the court for pulling credit report without permissible purposes. This would put collection agency into lot of troubles and issues. Collection agency is not allowed to pull credit reports of consumers where their debts have crossed the expiry age in contrast with FCRA.
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