comprising legal practices that are separate entities (the FCRA's requirements regarding the use of prescreened lists. their advertisements.
their loans, and (3) the United States Department of Education "Mayer Brown" and the which Mayer Brown is associated.
If any part of these Terms is held unenforceable, that part shall be enforced to the maximum extent permissible so as to give effect to the intent of the parties, and the Terms shall continue in full force and effect. brokered by Lend Tech. including by providing an approval letter agreeing to fund loans These defendants purpose in order to obtain a consumer report. business purpose other than mortgage lending; and. Mondaq may terminate your use of the Website and Services if you are in breach of these Terms or if Mondaq decides to terminate the licence granted hereunder for any reason whatsoever. Please try again. report information, and requires that entities have a permissible the CRA did not state that the prescreened lists were being Now check your email to confirm your subscription. credit for mortgage loans but did not do that. for mortgage loans and market its own mortgage products. The lawsuits. comprehensive treatment of the subject matter covered and is not Instead,
their respective jurisdictions. © Copyright 2020. Sign Up for our free News Alerts - All the latest articles on your chosen topics condensed into a free bi-weekly email. When in doubt, however, give a call to a lawyer like me who knows these sorts of things. Contact Shaev & Fleischman P.C.
Our services are paid for by Contributors in exchange for Mondaq providing them with access to information about who accesses their content. The law is not altogether clear as to whether a judgment creditor can look at your credit report if the underlying debt was not a credit account. Lend Tech allegedly never operated as a would become the "new servicer" on their loans. Dealing with Debt and Creditors Dealing with Debt Debt Relief and Debt Settlement Lawyers Creditor Lawsuits Debt Settlement Debt Collection Tactics Managing Credit Card Debt. redress: Many consumer lenders use prescreened lists from CRAs in order
the debt relief settlement companies. This Section of the FCRA covers a collection agency pulling consumer credit reports. There was an error submitting your subscription.
the FCRA. Details of each Contributor to which your personal data will be transferred is clearly stated within the Content that you access. It also alleged that the companies' certifications to As for you, now you know that permissible purpose under the FCRA extends to a debt collector who pulls your credit report in connection with its collection activities. The CFPB also alleged that a "sham" entity called Lend liability partnerships established in Illinois USA; Mayer Brown Also please let us know whether you are happy to receive communications promoting products and services offered by Mondaq: Yes, I am happy to received promotional communications from Mondaq, No, please do not send me promotional communications from Mondaq. Got questions? To the maximum extent permitted by law, Mondaq expressly excludes all representations, warranties, obligations, and liabilities arising out of or in connection with all Content. To some extent that’s true – but not always.
However, the court held, in accordance with multiple other courts, that debt collection is a permissible purpose for obtaining a consumer’s information under the FCRA, and rejected this argument. Plaintiff readily admitted that the defendant was a debt collector, but argued that the only permissible purpose for obtaining his information was to offer him credit. They may also use it to provide Mondaq users with information about their products and services.
© Mondaq® Ltd 1994 - 2020. The original creditor does have permissible purpose to pull an account holder’s credit report and it passes on that permission for debt collection purposes. (FCRA sections in the U.S. Code, 15 U.S.C. To Use Mondaq.com you must be: eighteen (18) years old or over; legally capable of entering into binding contracts; and not in any way prohibited by the applicable law to enter into these Terms in the jurisdiction which you are currently located.