Compliance
How do I demonstrate that my business has the ability to capture and store a consumer's consent?
You will be required to provide iSoftpull with a copy of or documentation of your consent capture method. For example, if you are using a consent authorization form (we have a template!), simply provide iSoftpull with a copy of the form or ...
Do you need to store proof of consent?
Yes, under FCRA law you are required to record and safely store consent for up to 60-months. To ensure A+ compliance, iSoftpull simultaneously audits clients to ensure they are capturing, recording, and storing consumer consent for every report ...
What other ways can our business capture the consumer's consent?
If you are unable to capture consent using an authorization form then we recommend you capture consent by adding credit consent language to your existing loan application, or by creating your own web form where the consumer provides written ...
What is iSoftpull's preferred method for capturing consent?
iSoftpull recommends you have the consumer sign a 1-page authorization form dedicated to capturing only the pertinent information needed to do the soft pull (name and address) and suggest you have them sign with wet ink or electronic signature (e.g. ...
How do you capture a consumers consent?
Capturing consumer consent to pull their credit is easy to do with iSoftpull. There three primary methods for capturing consent: online, over the phone, or in-person. When capturing consent online you can use an e-sign complaint form that contains a ...
What industries does iSoftpull NOT serve?
iSoftpull is unable to serve credit repair or debt settlement companies. Not sure if your industry is serviced by iSoftpull? Give us a call at (760) 579-6171 to speak with one of our in-house credit reporting experts who will be happy to assist you ...
Do I need a consumer's permission to view their credit report?
Yes, you always need a consumer's permission to pull a pre-qualification credit report on them. When pulling credit with iSoftpull, there are certain safeguards to make sure you are always getting consent so you can rest assured you are maintaining ...
What if I do not have a permissible purpose, can I still pull credit?
No, under the FCRA you need a permissible purpose and the consumer's consent to pull their credit file. Ready to Get Started? View Pricing & Pick Your Plan Need Assistance? Submit a Ticket or Call Us at (760) 579-6171 Access Your Account Login to ...
What is the FCRA and what do they do?
FCRA stands for the Fair Credit Reporting Act, which is a federal law that ensures the accuracy, fairness, and privacy of consumer credit files. Ready to Get Started? View Pricing & Pick Your Plan Need Assistance? Submit a Ticket or Call Us at (760) ...
What industries can iSoftpull serve?
Business lending, personal loans, auto loans, home loans, solar, dental, and construction loans. Ready to Get Started? View Pricing & Pick Your Plan Need Assistance? Submit a Ticket or Call Us at (760) 579-6171 Access Your Account Login to iSoftpull ...
What are the most common permissable purposes under the FCRA?
Extension of credit, background screening, and other legitimate business needs. Ready to Get Started? View Pricing & Pick Your Plan Need Assistance? Submit a Ticket or Call Us at (760) 579-6171 Access Your Account Login to iSoftpull iSoftpull (760) ...
What is permissable purpose?
Permissible purpose is defined by the Fair Credit Reporting Act (FCRA) as a reason that a consumer reporting agency may furnish a consumer report to any person or organization. Ready to Get Started? View Pricing & Pick Your Plan Need Assistance? ...