Under what circumstances are creditors allowed to access my credit report?

Congress has limited the use of consumer’s credit reports to protect consumers’ privacy.

The Fair Credit Reporting Act (FCRA) outlines in detail the circumstances under which a creditor has permission to access your credit report.

These 10 situations give creditors the right to access your information:

1. A court order, or a grand jury subpoena.
2. You gave them written authorization to do so, such as applying for a loan.
3. You asked them for an extension of credit.
4. You applied for a job.
5. You applied for an insurance policy.
6. You initiated a business transaction, like buying a car.
7. An existing creditor wants to review your account to make sure your credit still meets the terms established for that account.
8. To check your eligibility for a governmental license.
9. In connection with an existing debt you have.
10. To enforce or modify your child support payments.

If you feel that your account has been accessed inappropriately, without meeting one of the ten criteria above, you could be eligible for damages as a result of the creditor violating the FCRA.

Reach out to me today, and I’ll be happy to take a look at your situation and advise on your eligibility.