Why would a creditor pull my credit report after filing?

[Flamingo]

if they knew about your bk when they pulled your report (can you prove that they did?) then they have TOTALLY violated the automatic stay. pulling a report is a collection method. if they show up at your 341 and they ask you questions, ask them first why they thought they had the right to pull your report right after they found out that you filed. at least tell your lawyer (if you have one).

Any creditor one has can pull your credit report at any time as long as you have an account with that creditor. That infomation is stated right in your credit application and paperwork that you sign when you obtain the credit. BK does not prevent the creditor from pulling that report.

[BBW]

Ok lets assume they are allowed to pull the report. Getting back to my original question, what would the purpose be? Should I be concerned or is this routine? Also if a creditor is going to object, would the earliest time be at the 341 or do they do it before and after too?

[backtoschool]

Probably $8-10k that year. It was 2 years ago.

A small overstatement of income (relatively speaking. We have had cases on this board where there was a 400k overstatement of income ) and a cash out on your car 2 years ago are not strong grounds for an AP in my opinion.

A lot can change in two years to one's circumstances. 2 years ago we were still in the real estate boom, the stock market had not crashed, and the unemployment rate was 4.7% .

It would be very very difficult for the CU to prove intent on a cash out from 2 years ago.

[music12]

ok, so i have now re-read the premissible purposes for pulling reports and indeed one purpose is "review" of an account (though i have to say, that's so vague and general that it allows almost anything). so if that's what they were doing, i guess it would be legal, but i don't think that's what they were doing given that they never reviewed the account before.

so i second BBW's question: what on earth was their purpose?

[backtoschool]

Ok lets assume they are allowed to pull the report. Getting back to my original question, what would the purpose be? Should I be concerned or is this routine? Also if a creditor is going to object, would the earliest time be at the 341 or do they do it before and after too?

I had both my credit union and amex pull my report the week after I filed.

It is somewhat routine for creditors to want to see you entire financial picture after you file. For all they know you could have a brand new Mercedes loan, a new yaught loan, and a 65k jewelry loan from Tiffany's on there since last week.

I do not think you should be concerned.

[BBW]

Your probably right. I'm just worried they are investigating things. I am hoping to fly under the radar of everyone.

[outsidetool]

When I filed last year I had dealings with 2 credit unions. Both of them pulled reports after being notified. I don't know if that is legal or not, I assume they must have some easy out since they both did it. But, I never heard a word from either of them regarding my case.

[BBW]

When I filed last year I had dealings with 2 credit unions. Both of them pulled reports after being notified. I don't know if that is legal or not, I assume they must have some easy out since they both did it. But, I never heard a word from either of them regarding my case.

That's good. Hopefully they won't bother me.

[Flamingo]

Ok lets assume they are allowed to pull the report. Getting back to my original question, what would the purpose be? Should I be concerned or is this routine? Also if a creditor is going to object, would the earliest time be at the 341 or do they do it before and after too?

They don't need a reason to pull it (go back and find your original account paperwork when you openend your credit account). Usually it a periodic check of your credit to see if you might be eligible for an increase or extend other credit to you. But it is also to check on your entire credit state so they are more than likely viewing what you have done in the recent past which they are allowed to do. As long as you didn't make major luxury purchases within the past 6 - 12 months or open up credit lines recently and drain the cash you should be OK. Check with your lawyer.

[music12]

i thought part of the point of the law about who may pull credit reports and under what circumstances is to require a good reason to pull it, regardless of what the credit companies stick into their account paperwork.

i think all the reasons flamingo gives for pulling the report would be valid, except they obviously do not apply in this case because the creditor already knows of the bk.

but anyway, as to the OP it probably doesn't matter. they probably will do nothing with it.

[backtoschool]

i thought part of the point of the law about who may pull credit reports and under what circumstances is to require a good reason to pull it, regardless of what the credit companies stick into their account paperwork.

i think all the reasons flamingo gives for pulling the report would be valid, except they obviously do not apply in this case because the creditor already knows of the bk.

but anyway, as to the OP it probably doesn't matter. they probably will do nothing with it.

If a company has extended you credit, they can do a hard or soft pull of your credit reports any time they want for "account review". Since "account review" can include looking at your report for any reason, they will always be allowed to pull the report, even if new credit isn't being extended.

[OhioFiler]

I am curious how the CU looking at your credit report might affect your bankruptcy? What information on your report do you think can cause your CU to muck up your filing?

[myid4u2c]

I would think they could pull your report between filing and discharge. However once you are discharged they would no longer have a ‘Permissible purpose” because you do not have an account nor do you owe them anything.

[BBW]

I am curious how the CU looking at your credit report might affect your bankruptcy? What information on your report do you think can cause your CU to muck up your filing?

I don't think any information on my report will be a problem. I am just trying to establish if this is normal business as usual to pull my credit after filing or if they are digging for something.

[liz417]

I was recently discharged and I ordered all three of my credit reports in an attempt to start "cleaning up" my credit. I noticed that all my creditors did hard pulls between June and Sept AFTER I filed for BK, I don't know why.....