How To... in 91405>Question Details

Nancy Palmer, Both Buyer and Seller in 91405

Is there a free service available for doing a credit check?

Asked by Nancy Palmer, 91405 Fri Feb 6, 2009

We have a prospecitve renter, and need to do a credit check. Are there any organizations that offer this for free? If not, where do I go, and what is the approx cost.

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Nancy, I would take seriously what Keith has shared. A tri-merge credit report will uncover quite a bit about a person's background (bankruptcy, collections, legal judgments, etc.); however, in these times, it pays to be especially conservative in your level of scrutiny.
0 votes Thank Flag Link Sat Feb 7, 2009
Nancy
you should consider more than just a credit check. There are services that will also provide a background check for a few more dollars. In this economy you need to be not only frugal, but thorough.
0 votes Thank Flag Link Sat Feb 7, 2009
Keith Sorem, Real Estate Pro in Glendale, CA
MVP'08
Contact
Nancy, my apologies, I misread your question.

Chris is absolutely correct! (and authorization should be part of your rental application paperwork).

-Steve
0 votes Thank Flag Link Fri Feb 6, 2009
Nancy,
It is illegal to run a credit report on someone without their authorization. Most (reputable) lenders will request a written release signed by the potential client before they will run a report for you. It will benefit you to join an organization that can do this for you. See link below for company I have used.
0 votes Thank Flag Link Fri Feb 6, 2009
Nancy: https://www.annualcreditreport.com/cra/index.jsp provides a credit report, but not scores. To get the full picture you should contact a loan broker/banker and request a tri-merge credit report. Cost should be $15-$20.

Best, Steve
0 votes Thank Flag Link Fri Feb 6, 2009
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