June 30, 2006, Newsletter Issue #46: Reasons to Furnish Consumer Credit Reports

Tip of the Week

Need some credit bureau reporting advice? A credit reporting agency may furnish a credit report for a consumer only under certain circumstances provides for by law:

*In response to a court order;
*In accordance with written instructions from the consumer;
*To any person that the reporting agency has reason to believe;
-is involved in the extension of credit to, or review or collection of an account of the consumer;
-intends to use the information for employment purposes;
-intends to use the information in connection with the underwriting of insurance involving the consumer;
-intends to use the information in connection with a determination of the consumerís eligibility for a license or other benefit granted by a governmental agency (if the agency is required by law to consider an applicantís financial responsibility);
*otherwise has a legitimate business need for the information in connection with a business transaction involving the consumer.

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