Is it legal for a collections company to access my credit report?
Q. I got a letter from a collections company saying I needed to contact them or my current credit score, XXX, might be negatively affected. Is that legal? I understand that having a collections action filed against me will impact my credit score. But I thought that if a company looks up my credit score (like a credit card application), my credit can be negatively affected. So it seems like I might get hit twice here. . . since they quoted my credit score AND apparently have filed a collections claim.
Asked by kalatraz22 - Fri Sep 15 19:42:30 2006 - - 8 Answers - 0 Comments

A. When a collection agency is "shopping" for bad debts, they are allowed to access reports as a soft inquiry. When a collection agency purchases the bad debt, they can pull a hard inquiry. What stinks is that if they are really twisted, (if they own the debt) they will pull a hard inq. once a month (or more) Just to put the pressure on the debtor, or, more than likely, just for grins.
Answered by echo - Fri Sep 15 23:33:55 2006

What is the difference between fashion lines and collections?
Q. I'm doing a project on Chanel and I need to list her lines of products. I was just wondering if lines and collections are the same thing? If not could you please give me examples of each? Thanks so much!
Asked by Linny - Thu Feb 28 20:38:35 2008 - - 5 Answers - 0 Comments

A. A line is a different tier of the brand i.e. Gap has Old Navy. A collection refers to a theme - winter collection, casual wear collection and so forth. In the instance of Chanel, a line would have been perfume, a collection would have referred to a "season".
Answered by OliveJuice - Thu Feb 28 21:03:10 2008

How do I deal with an investment mortgage that's going into collections?
Q. Bought an investment property in Detroit and unable to find a stable renter. Lender won't foreclose or do a deed in lieu of. $69000 owed on mortgage even though house is definitely not worth that now. Lender threatening to send it to collections. House is and has been on the market for months.
Asked by lisamj - Fri Feb 6 12:14:48 2009 - - 2 Answers - 0 Comments

A. You're screwed. All you can do is wait and hope that they auction it for a good amount. The only possible other option is to rent out individual rooms each with deposits. If you rent it to someone with a kid, they wont get the kid out for months. Request a trial by jury, they will give a 3 day eviction notice but nobody can legally be removed until it's gone through civil court.
Answered by mikefromspace - Fri Feb 6 12:26:05 2009