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Getting Consent to Run a Credit Report Step 1 ? Explain the Purpose to the Individual. ... Step 2 ? Completing the Form. ... Step 3 ? Obtaining a Real Signature. ... Step 4 ? Run the Credit Report. ... Step 5 ? Review and Give a Copy to the Consenter (if asked)
By signing this form, you are giving consent to have your consumer/credit reports furnished by consumer reporting agencies as part of an investigation to determine your suitability or fitness for federal employment or fitness to perform work under a contract.
I authorize the person whom this application is delivered, to obtain my credit report from any credit-reporting agency and to contact my current or previous landlord and/or employer(s), to establish or verify my financial standing.
Your consent generally lets the lender use your credit report when you first apply for credit. They can also access your credit at any time afterward while your account is open. In many cases, your consent also lets the lender share information about you with the credit bureaus.
Before a financier, landlord, or any party would like to perform a credit check on an individual, it's required, under the Fair Credit Reporting Act, that the individual gives consent before their credit is searched.
Express consent means that federally regulated financial institutions must get your permission before providing financial products or services to you. This applies to all products and services such as credit cards, lines of credit and loans. They can obtain your consent verbally or in writing.
Employers may use your credit report, if you give them permission to do so, to decide whether to hire you. Telephone and utility companies may use information in your credit report to decide whether to provide services to you. Landlords may use the information to determine whether to rent an apartment to you.
Your credit report can't be obtained by just anyone. The FCRA lays out in what situations a credit reporting agency can provide others access to your report. Even those who want access to your report can only ask for it if they have a legally permissible reason to do so.