May 7, 2010, Newsletter Issue #159: 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 consumer's eligibility for a license or other benefit granted by a governmental agency (if the agency is required by law to consider an applicant's financial responsibility);
*otherwise has a legitimate business need for the information in connection with a business transaction involving the consumer.

About LifeTips

Now one of the top on-line publishers in the world, LifeTips offers tips to millions of monthly visitors. Our mission mission is to make your life smarter, better, faster and wiser. Expert writers earn dough for what they know. And exclusive sponsors in each niche topic help us make-it-all happen.

Not finding the advice and tips you need on this Collection Agency Tip Site? Request a Tip Now!

Guru Spotlight
Jolyn Wells-Moran