FactorTrust FAQs
- Who is FactorTrust and what do you do?
- My request for a loan was denied. What role did FactorTrust play in my lender’s credit decision?
- How did FactorTrust get my information?
- Why did a company use my credit report in order for me to receive a loan?
- I received a Notice of Adverse Action. What is this?
- Who can I contact if I need further explanation of why I was denied credit?
- How do I get a copy of my FactorTrust credit report?
- Can I request Lenders stop sending me credit offers in the mail?
- What should I do if I believe someone stole and used my personal information? How do I report identity theft?
- How do I place an active duty alert on my credit report?
- Public Health Emergency Credit Alert for Washington, D.C. Residents (FactorTrust)
- Where can I find information about my rights as a consumer?
Who is FactorTrust and what do you do?
FactorTrust is a consumer reporting agency. As a consumer reporting agency, we may disclose information about you only to companies that you have authorized to access your information, or otherwise have a permissible purpose to access this information.
My request for a loan was denied. What role did FactorTrust play in my lender’s credit decision?
Please note that FactorTrust does not approve or deny applications for credit. FactorTrust provides the lender a credit report (if authorized by you or permissible by law) a credit report that they may, or may not, use in their decision process. Each lender has their own decision-making requirements for approving a loan.
How did FactorTrust get my information?
Various entities may furnish credit information to FactorTrust such as by banks, debt collectors, loan companies, and other creditors.
Why did a company use my credit report in order for me to receive a loan?
Lenders may decide to review your credit report to determine if you meet their requirements for a loan. Your credit report may be used to verify your identity or to review your payment history performance on other obligations.
I received a Notice of Adverse Action. What is this?
A notice of Adverse Action is what you receive from the lender when you applied and have been denied credit.
The letter may include specific information such as your credit score, factors that affect your score, the contact information of the credit reporting agency that was used, and other information
Who can I contact if I need further explanation of why I was denied credit?
Please note that FactorTrust does not approve or deny applications for credit. FactorTrust provides the lender a credit report (if authorized by you or permissible by law) a credit report that they may, or may not, use in their decision process. Each lender has their own decision-making requirements for approving a loan. FactorTrust does not have information as to the reasons an application was denied. You should contact the business, where you applied for credit, to obtain this information.
How do I get a copy of my FactorTrust credit report?
- TO VIEW ONLINE: You can view your FactorTrust credit report online by following this link*.
Note: Your FactorTrust credit report, if obtained online, is best viewed from a computer. Mobile or tablet type devices may not display properly.
- Alternatively, you may also request for your credit report to be sent to you BY MAIL by filling out this consumer Inquiry form. Once complete, please mail the form to FactorTrust with a copy of your driver’s license or valid ID. This will be for your FactorTrust credit report only.
Mail: FactorTrust Attn: Consumer Inquiries, PO BOX 390, Woodlyn, PA 19094 - You may contact other credit reporting agencies to request a copy of your report within their database.
- Your free credit report does not include a credit score. It is important to check your credit report to make sure the information is accurate because your credit score is based on the information in your credit report.
Can I request Lenders stop sending me credit offers in the mail?
You can opt out of certain lists by calling FactorTrust at 1-866-910-8497. This service allows you to remove your name from certain lists supplied to credit companies and insurers by FactorTrust. FactorTrust will implement this opt-out request within five business days, though for a period of time you may still continue to see credit offers because your name may already have been provided to companies who have not yet mailed their offers to you. This does not opt you out of the Big 3 Bureau’s – Equifax, Experian, and TransUnion or other Credit Reporting Agencies.
What should I do if I believe someone stole and used my personal information? How do I report identity theft?
If someone is using your personal information to open new accounts or make purchases, take these steps as soon as possible:
- Visit Identity Theft.gov, a one-stop resource to help you report and recover from identity theft.
- Call the companies where you know fraud occurred.
- Click here to place a fraud alert on your credit report. Also, pull your FactorTrust credit report to see if unauthorized data is reflected on your record.
- Report identity theft to the FTC.
- File a report with your local police department.
- If an authorized account or loan is located on your FactorTrust credit report, you may start a dispute with FactorTrust.
How do I place an active duty alert on my credit report?
Please visit us here to place an active duty alert on your FactorTrust credit report.
Public Health Emergency Credit Alert for Washington, D.C. Residents (FactorTrust)
The District of Columbia enacted the Public Health Emergency Credit Alert Amendment Act of 2023, which amended the Coronavirus Support Clarification Emergency Amendment Act of 2020. This law allows D.C. residents the right to establish a public health emergency credit alert.
What does the law do?
The law provides D.C. residents the right to establish a public health emergency credit alert.
If a consumer reports in good faith that they have experienced financial hardship resulting directly or indirectly from a public health emergency, a consumer reporting agency must include a personal statement in the consumer’s file. The personal statement must be included with any credit report provided by the agency beginning on the date of the consumer’s request, unless the consumer requests removal. The law also prohibits users of credit reports from considering adverse information resulting directly or indirectly from the declared public health emergency if a credit report contains a public health emergency personal statement.
Can I add a consumer statement to my file if I'm impacted by a public health emergency?
Absolutely. You can add a consumer statement to your file that describes your financial situation, for example, “I was unable to make payments due to coronavirus.” Anyone who views your credit report will be able to see this statement. Visit https://www.factortrust.com/consumer/Disputes.aspx to get started.
What is a consumer statement?
A consumer statement is a note you add to your credit report to explain a certain item on your credit report. Anyone who pulls your credit report will be provided your consumer statement. If you’re financially impacted by a public health emergency, you can add a consumer statement to your file noting that. An example of a consumer statement might be, “I was unable to make payments due to coronavirus.” Visit https://www.factortrust.com/consumer/Disputes.aspx to get started or call 844-773-3321 and one of our Service Agents will be able to guide you. If you include medical information in your consumer statement, you are allowing FactorTrust to include that in any credit report we issue on your behalf.
Where can I find information about my rights as a consumer?
As a consumer, you are afforded certain rights when it comes to your personal information and information on your credit report. For more information, you can visit www.consumerfinance.gov/learnmore. See below to view additional details of your consumer rights:
- General Summary of Rights under the FCRA
- Fraud/Identity Theft Summary of Rights
- California State Consumer Bill of Rights
- Colorado State Consumer Bill of Rights
- Connecticut State Consumer Bill of Rights
- Massachusetts State Consumer Bill of Rights
- Texas State Consumer Bill of Rights
- Vermont State Consumer Bill of Rights
- Washington State Consumer Bill of Rights
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