Allowing A Credit Report Not Always The Best Idea
In November, the Federal Trade Commission reported that 8.3 million U.S. adults had been victims of identity theft in 2005. Because of consumer concerns, the federal government has focused its attention on the use and abuse of credit report information. The Federal Fair Credit Reporting Act regulates who may obtain your information, how it may be used, and what penalties can be levied against those companies who fail to comply with federal guidelines.
Some credit providers require requesters to give solid proof of ownership, such as a copy of the county assessor’s tax bill, grant deed or utility bill when making application for a credit check. Management companies and rental corporations are required to provide information that includes proof of formal contract with the individual authorized to use the credit information.
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