You've checked your credit
reports from the major credit bureaus, all three of them (Experian, Trans
Union and Equifax). You've checked for errors and corrected them. Are you
now "in the know" about your credit profile? Not exactly. Beyond the
substantial information that is reported by the major credit bureaus, there may
be more information about you being reported out there.
Lesser–known credit reporting services have been around for years, and they do impact
your lives. Check verification services and tenant screening services are like consumer
blacklists. They affect your ability to open a bank account, cash a check, or rent an
apartment. In addition to these well–established consumer "blacklists," the Justice
Department recently gave anti–trust approval to phone companies to start their own
clearinghouse, reporting consumers who don't pay their bills on time. This new
blacklist will also create negative consequences for those who become victims of
identity theft.
All of these services are considered to be credit reporting agencies and must
comply with Fair Credit Reporting Act, and some more stringent state credit reporting
laws. Nevertheless, because these services are lesser–known, false and negative
information may be on file with these companies without your knowledge. More dangerously,
you could be a victim of identity theft and
not know this for an extended period of time.
Check Verification/Guarantee Companies
Those who have had bad checks written in their name will be listed with any one of the several
national or local check verification companies. These companies compile a "blacklist" of people
who write bad checks. The list also contains names of victims who have had a bad check written
in their name. Check verification companies will approve or disapprove a check based upon an
individual's check–writing history compiled from a number of sources. These records may
include the consumer's name, address, telephone number, bank account number and identification
(e.g. driver's license number) used to cash the check. This information is used to determine
whether or not to accept a personal check. It is also used to determine whether one can open
an account with a bank. More than 86,000 retailer and stores use the services of 22 of the
largest check verification companies.
You can contact the check verification companies to inquire if you are among listed. Any
checks bearing negative characterization will include information such as dates, original
payees, and payment amount. Consumers should report and complain regarding false and
inaccurate information. Merchants have to conduct an investigation of information provided
to the check verification company and report the results to the check verification company or
the consumer within 30 days. If merchant fails to do so, consumers may have the right to sue.
If thereafter your name and driver's license number continues to label you as a bad check writer,
contact the Federal Trade Commission. (Click here for a list of check verification companies)
Debit Bureau: A New Credit Rating System
Deluxe Corporation, Acxiom Corp., and Fair, Isaac & Co., recently joined forces to form the
industry's first "debit bureau," a data warehouse with decision support capabilities to help
financial service companies and retailers make better debit decisions–like opening checking
accounts, setting ATM withdrawal limits, accepting checks, and issuing debit cards. The debit
bureau will provide the data and decisioning technology for debit–related decisions, just as credit
bureaus have long provided for credit–related decisions.
Deluxe gathers information from banks about bounced checks and related payment problems. Acxiom
combines the data with other financial information and gives it to Fair, Isaac & Co., which uses
the information to generate a rating. The debit bureau delivers the most extensive collection of
debit information ever assembled: account opening and closing information; check order history;
check writing history; collections data; frequency of debit and ATM card use; and demographic data
such as household–level marketing information. With Debit Bureau, retailers and financial institutions
will have more information than ever before to fill in the gray areas left by credit bureau "thin files."
Banks and retailers that uses the service and reject a transaction or new account are required
to give consumers a toll–free number to call and find out the reason for the rejection. For more
information on Debit Bureau, go to the website. (http://www.debitbureau.com)
Tenant Screening Services
Property managers use tenant screening services to screen their applicants. Owners screen tenants
for ability to pay, criminal background, history with other landlords and neighborliness, among
other things. Tenant screening reports may combine, in addition to information provided by credit
reporting agencies:
landlord–tenant history, documenting your tenant payment history and any other information
provided by prior landlords
eviction and foreclosure records, obtained from public records databases
criminal record check, in addition to a wanted fugitive check, contains information on any
felony, conviction, misdemeanor, and criminal traffic convictions against you
a vexatious litigation check, which indicates whether the applicant is deemed by the courts
to be a person who files frivolous law suits
Such information is collected by the tenant screening service and used by property managers to
approve or deny a tenancy. Tenant screening agencies are more regional than national in nature.
Like credit reporting agencies, tenant screening agencies may have varying information on you.
The federal Fair Credit Reporting Act governs tenant screening reports and these agencies to disclose:
– All information in the individual's file at the time of the request.
– The source of the information.
– A list of all people who received a copy of the report in the past year. – A statement of the
tenant's rights regarding these reports.
You are entitled to a free copy of your tenant report if, in the past 60 days, this information
was used to deny a rental application or to increase the rent or security deposit on a residential
housing unit. You also may get a free copy of the report if you receive public
assistance or have reason to believe that your file contains inaccurate information because of
fraud. Otherwise the agency may charge a fee of about $8 for the report. If you feel the tenant
report is incomplete or inaccurate, you can require the tenant screening service to reinvestigate
and record the current status of the information. If the information is found to be inaccurate or
cannot be verified within 30 days, it must be deleted from your file. (Click here for a list of Tenant Screening Companies)
Telephone Bill Deadbeat Database
The U.S. Department of Justice (DOJ), in September 1997, approved a proposal by the National Consumer
Telecommunications Data Exchange, Inc. (NCTDE) for its long–distance carrier members to exchange
information concerning subscribers who failed to pay long–distance charges. Under the proposal,
member carriers are required to inform a third party – a vendor hired by NCTDE – of those closed
residential accounts with an undisputed and unpaid balance which exceeds a certain dollar threshold
(which has yet to be determined). Other member carriers can then obtain this information from the
vendor and use it to decide, unilaterally, whether to offer service to a potential customer with
a "bad" credit history.
The National Consumer Telecommunications Data Exchange (NCTDE), a unique organization of
telecommunication carriers who joined forces to help the industry reduce uncollectible consumer
accounts and improve credit risk evaluations, was formed in January 1997. (Click for more on
NCTDE) Equifax was selected to create and manage this first national telecommunication industry
database of unpaid consumer telephone accounts. The NCTDE database became fully operational in
March 1998. It is managed in accordance with the requirements of the Fair Credit Reporting Act
and supported by information consultants at the Equifax Information Service Center.
Accufax
5801 East 41st Street, Suite 800
Tulsa, OK 74135
Tel: (800) 256-8898
Fax: (918) 622-9453 http://www.accufax-us.com
American Tenant Screen, Inc.
131 North Narberth Ave.
Narberth, PA 19072
Tel: (800) 888-1287
Fax: (800) 881-9699 http://www.atshome.com
Amrent, Inc.
9990 Richard Ave., Suite 100
Houston, TX 77042
(713) 266-1870
(713) 266-9146
Landlord Protect, Inc.
P.O. Box 521
Absecon, New Jersey 08201
Tel: (800) 221-9379
Fax: (800) 345-9379 http://www.landlordprotect.com/
National Tenant Network
525 SW First, #105
Post Office Box 1664
Lake Oswego, Oregon 97034
Tel: (800) 228-0989
Fax: (800) 340-1116 http://www.ntnnet.com
Rental Research Services, Inc.
11300 Minnetonka Mills Road
Minnetonka, MN 55305
Tel: (800) 328-0333
Fax: (800) 642-5226 http://www.rentalresearch.com
Rental Services, Inc.
10050 Ralston Road, Suite 7
Arvada, CO 80004
Tel: (303) 420-1212
Fax: (303) 420-1477
Resident Evaluation Service, Inc.
2755 South Locust Street, #209
Denver, CO 80222
Tel: (800) 752-8575
Fax: (303) 757-5573
Tenant Data Services, Inc.
421 South 9th Street
Lincoln, Nebraska 68508
Tel: 800-228-1837 http://www.tenantdata.com
Tenant Screening Services, Inc.
6824 19th Street West, Suite 291
University Place, WA 98466
Tel: (253) 565-9090
Fax: (253) 564-3964 http://www.tenantscreening.com
The Registry, Inc.
11140 Rockville, #1200
Rockville, MD 20852
Tel: (800) 999-0350
Fax: (301) 984-7312
The U.D. Registry, Inc.
P.O. Box 9140
Van Nuys, CA 91409
Tel: (800) 321-7803
Fax: (818) 947-4460 http://www.udregistry.com
