If you made a broker mad can he or she try to ruin your credit and be successful at it?

Question

For example can they keep checking your credit and make your score go down or something like that?

Answer 1

No more so than anyone else. Running your credit multiple times all counts as one for mortgage providers these days. Of course, if they've got your information, they could do the identity theft thing a little easier than most other people, but it's not like anyone has a hard time with identity theft under current systems of identification.

Answer 2

They can, but it would be illegal.

Your credit can be checked if and only if you authorize someone to do it (i.e. loans, some govt jobs, etc).

It is illegal to check your credit without your authorization. If someone did so, they would be subject to penalties, and you may be eligible for damages.

The best thing to do is to close all accounts with this broker and refrain from doing business with him/her in the future. I doubt anyone would be stupid enough to threaten you in this fashion. If so repeat what I wrote about the action being illegal and that you would pursue civil and criminal action. Also mention that you will check with the credit bureaus to see who made credit inquiries. That should scare off anyone with IQ higher than 50.

Answer 3

If the broker submitted multiple inquires on your credit, it would be easy to prove they were unauthorized. Once you prove that, the inquires would be removed from your file. In addition, the credit bureau would most likely refuse to allow the broker to request addition credit reports. That would do more damage to the brokers career that to your credit.

Answer 4

No, I doubt that they would keep running a credit check, this costs them money. I believe that once you get 3 or more checks in a month it would goes on your credit report as too many credit checks.

Answer 5

A broker will not get mad at you. They face arbitration and know it. They just hope that you go away.