Why do utilities & apartments need to do hard credit pulls?

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kcarter609
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Why do utilities & apartments need to do hard credit pulls?

Postby kcarter609 » Thu Mar 14, 2013 6:13 pm

What is with these companies and needing to do a hard pull? I really don't understand it. They aren't loaning us money. Soft pull the reports, if you like what you see, no deposit. If there's an issue, make us pay a deposit. I don't need 3 hard pulls in a row because the apartment complex runs it, the electric company runs it, and the cable company runs it. They all swear up and down that it will be a soft pull, yet I don't think these people even know what that term means.

There really should be some sort of regulation on this type of stuff.

</end rant>

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marzbarz
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Postby marzbarz » Thu Mar 14, 2013 9:07 pm

I completely agree with you rant. DISH network did a hard pull on me, and i dont see the need for it. As you said, they are not lending you any money where collateral is needed.
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MemberSince99
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Postby MemberSince99 » Thu Mar 14, 2013 9:59 pm

Agreed. I hate to say it, but honestly unless the government steps in and acts like they run this country instead of corporate America which bought our government fair and square, then nothing is going to change.

I've been thinking for some time, the only way we are going to be able to get the laws we do have enforced is for the government to step in and crack down on the CRAs, and the scumbag vulture companies that openly disregard the law and get away with it, and even regulate things like this.

For that matter, why does my employer have the right to check my credit if I don't work in a financial capacity or have access to company money?

I wouldn't hold my breath waiting for any of this to improve though. The corporations run this country for their profit, and they won't allow anything to come between them and $$$.

kcarter609
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Postby kcarter609 » Thu Mar 14, 2013 10:41 pm

MemberSince99 wrote:Agreed. I hate to say it, but honestly unless the government steps in and acts like they run this country instead of corporate America which bought our government fair and square, then nothing is going to change.

I've been thinking for some time, the only way we are going to be able to get the laws we do have enforced is for the government to step in and crack down on the CRAs, and the scumbag vulture companies that openly disregard the law and get away with it, and even regulate things like this.

For that matter, why does my employer have the right to check my credit if I don't work in a financial capacity or have access to company money?

I wouldn't hold my breath waiting for any of this to improve though. The corporations run this country for their profit, and they won't allow anything to come between them and $$$.


Sadly that's true.

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Rina
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Postby Rina » Wed Mar 20, 2013 4:18 pm

MemberSince99 wrote:
For that matter, why does my employer have the right to check my credit if I don't work in a financial capacity or have access to company money?


Not all employers need to do this. But financial companies, public companies, or those who could conceivably suffer from embezzlement or insider trading is still possible. Even without direct access to the money, one could communicate knowledge to someone with the ability to take advantage. Granted, it's not the public's fault if those companies don't have the risk management controls in place, but it's the easiest approach.
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Sevenfeet
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Postby Sevenfeet » Wed Mar 20, 2013 6:59 pm

Not all companies do this...in fact for me it's only been done once. Nearly 15 years ago I joined one of the big consulting/accounting firms and one of their big firm tenets when you join is maintaining complete integrity since they have intimate knowledge of the books and finances of the companies they work for. It was a bit embarrasing since my credit was really lousy at the time (sub 600) but they hired me anyway.
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