I thought credit reports were closed to the public...how do collection companies get this information???

Question

I thought credit reports were closed to the public...how do collection companies get this information???

Answer 1

Ive had a collection agency pull hard pulls on my credit where they accessed my entire report to see how much I owed everyone. Everyone else is wrong. Once you borrow money from anyone and it goes to collections that is considered a credit account and they can pull your report if they please.

Answer 2

some buy it some say they are entitled to it as they are not public,

Answer 3

In a attempt to collect a debt, collection companies are within their legal rights to pull your credit as much as they want to look for new addresses, phone numbers and employer information.

Answer 4

They are not considered the 'general public' as they have reasonable grounds on which to access your credit profile since they are a creditor.

Answer 5

Once they purchase your debt from the original creditor, they are not the "public."  They now have a legal interest in the debt.

Answer 6

Collection companies don't have your credit report.  They just have one slice of it.

Say you didn't pay your rent.  Your landlord hires a collection company to collect from you.  Your landlord is the one that states it is going to a collection, not the collection company.