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Personal Loan - "unauthorized hard credit check"

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    Personal Loan - "unauthorized hard credit check"

    I was checking our credit report and I noticed that in January our personal loan company had done a hard credit check with whom we've not wanted to extend or renew or do anything to "reset" the loan as when things got rough they refused any sorts of work arounds until we could get caught up dispite that we were faithful for nearly a year and paid over the monthly due. I'm going to guess here that has something to do with the phone calls stating " WE HAVE GOOD NEWS FOR YOU CALL US TODAY!"

    We DID NOT authorize our credit to be checked by them since the loan orginated way back in 2014 is this typical or normal behavior for loan companies?
    ~You should always check the source otherwise its just a Tabloid"~Tahnya

    #2
    Originally posted by IvoryAngel View Post
    I was checking our credit report and I noticed that in January our personal loan company had done a hard credit check with whom we've not wanted to extend or renew or do anything to "reset" the loan as when things got rough they refused any sorts of work arounds until we could get caught up dispite that we were faithful for nearly a year and paid over the monthly due. I'm going to guess here that has something to do with the phone calls stating " WE HAVE GOOD NEWS FOR YOU CALL US TODAY!"

    We DID NOT authorize our credit to be checked by them since the loan orginated way back in 2014 is this typical or normal behavior for loan companies?
    Sorry to say, yes it is typical for an agency to run a 'hard pull' on your credit--even when expressly told NOT do so.

    We were looking for a truck for our god-daughter. We went to three different dealerships--all owned by the same family--(what a monopoly), and at each different dealership, they did a HARD pull of our credit--even though we told every person encountered, that we would purchase through our Credit Union--do NOT mess with our credit.

    Well, they did, and when we finally found our truck--at an independent dealer-- our credit rating had plummeted more than 100 points. Our interest rate at our CU was much higher than it needed to have been, and was totally unnecessary.

    Good wishes to you!
    Last edited by AngelinaCat; 02-27-2016, 04:36 PM. Reason: corrected a misued word.
    "To go bravely forward is to invite a miracle."

    "Worry is the darkroom where negatives are formed."

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      #3
      AngelinaCat,

      How does that happen? If I have no plans to finance with a dealer (or anyone else) I do not give them my Social Security Number or Any other personal info. How could they do a hard credit check without that info?

      I always figured that if anyone wants that kind of info from me when I have no intentions to allow a credit check by them, then they are probably not on the up and up, and I leave very quickly.

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        #4
        Originally posted by Geeznowwhat View Post
        AngelinaCat,

        How does that happen? If I have no plans to finance with a dealer (or anyone else) I do not give them my Social Security Number or Any other personal info. How could they do a hard credit check without that info?

        I always figured that if anyone wants that kind of info from me when I have no intentions to allow a credit check by them, then they are probably not on the up and up, and I leave very quickly.
        When looking around like we did, we probably were stupid. We tried to carefully govern ourselves, but 'Hub says they asked our names and birth dates--probably our DLs as well. From that, the miscreants could assemble all information they wanted.

        The car salesmen are snakes in the grass. At one point, someone came out with a contract ready to sign. 'Hub refused that, restating that we already planned to finance the truck via our CU. 'Hub said that "we will think about it, and come back tomorrow." The salesman turned red in the face, and started threatening us that our interest rates would be FAR HIGHER than we would get 'today'.

        At that point, I stood up and said: "I have wasted most of my day, dealing with you people. I must first (1) go to the bathroom, and (2) GO TO WORK WHERE I AM A PRODUCTIVE CITIZEN!!!

        And I stalked out.
        Last edited by AngelinaCat; 02-27-2016, 05:19 PM.
        "To go bravely forward is to invite a miracle."

        "Worry is the darkroom where negatives are formed."

        Comment


          #5
          Existing creditors are allowed to review your credit with a soft pull. If this is indeed a hard pull then dispute it with the bureaus. Dispute it by saying you did not give them authorization. The credit bureaus will send that to them and they may delete it, and if they don't the bureau will let you know why.

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