Consumers (although some do not realize it) authorize the creditor and agencies and legal representatives acting on the creditor's behalf to access their credit report when they sign the original account agreement. It is perfectly legal and there is nothing the debtor can do to prevent the action.
It depends on whom they are giving the information. Agencies such as the IRS are entitled to such information. Creditors generally are given permission by the consumer to access of such info., as a means of verification for credit approval.
Creditors obtain all the information they need to report defaulted accounts to credit bureaus when the account holder fills out the original application/agreement.
There is no definite answer as creditors establish their individual collection procedures, it might also depend upon whether it is the original creditor or a collection agency.
The duties of a collection lawyer is to collect debts, fees and payments from clients of their company. Collection lawyers represent banks, the government and other creditors.
The creditors' payment period is an activity ratio. It measures the average amount of days the business takes to pay its creditors i.e. suppliers. The more days available to pay the better.
Collection agencies buy defaulted accounts from original creditors. The original creditor supplies all the information to the collectors that was obtained upon the opening of the account. (Name, SSN, place of employment, etc.).
Creditors do have access to your information that shows up on various credit reports.However, unless you sign an authorization, they can not access your individual bank information.
Original creditors sale their accounts to collection agencies when the account has been past due and they have not effectively collected. At that time, the original creditor will charge off the balance from their accounts receivable and turn the account over to a collection agency. When the collection agency collects the debt, a portion of the amount received is paid the the collection agency and the remainder is returned to the original creditor as profit.
No, your creditors, even your potential creditors are prevented by Consumer Trade laws from discussing your information with anyone not specifically authorized by you.
The easiest way to do it is to get a copy of your cedit report. all creditors (and collection agencies) that you carry an account with will have their contact information listed there. Otherwise, if you know the name of the companies you can search the web for contact information. The credit report is fastest. Good luck.