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What is Kroll Factual Data on a Credit Report?

Kroll Factual Data (KFD) is a specialized consumer reporting agency that collects and maintains data related to retail loss events. This information typically includes instances of shoplifting, fraud, and other forms of theft that occur within retail environments. When Kroll Factual Data appears on your credit report, it means that a retailer has reported an incident involving you to Kroll, which can significantly impact your ability to obtain credit and employment, depending on the nature of the incident and the lender’s or employer’s policies. It’s crucial to understand what Kroll Factual Data is, why it’s on your report, and how to address any inaccuracies.

Understanding Kroll Factual Data

Kroll Factual Data isn’t a traditional credit bureau like Equifax, Experian, or TransUnion. Instead, it functions as a specialized reporting agency focusing on retail loss prevention. This distinction is crucial because the information Kroll collects and reports isn’t necessarily about your creditworthiness in the traditional sense (paying bills, managing debt). It’s about your alleged involvement in retail-related incidents.

The information Kroll collects typically comes directly from retailers who have experienced a loss they believe you were involved in. This data can include:

Incident Details: Date, time, and location of the alleged incident.
Description of the Incident: A summary of what allegedly occurred (e.g., shoplifting, check fraud, return fraud).
Retailer Information: Name and address of the retailer reporting the incident.
Your Identifying Information: Name, address, and potentially other identifying information.

It’s important to note that the presence of Kroll Factual Data on your report doesn’t necessarily mean you’ve been convicted of a crime. Retailers can report incidents even if charges haven’t been filed or if the case is still pending. This makes it critical to scrutinize the information and ensure its accuracy.

Why Kroll Factual Data Matters

Even though it’s not a traditional credit score, Kroll Factual Data can significantly impact your financial life and job prospects. Here’s why:

Credit Applications: Some lenders may review Kroll Factual Data as part of their overall risk assessment. While it’s not a credit score, the presence of a reported retail loss incident could raise concerns about your character and integrity, potentially leading to denial of credit.
Employment Screening: Many employers, especially in the retail and security sectors, use Kroll Factual Data as part of their background checks. A reported incident, even without a conviction, could jeopardize your chances of getting a job.
Tenant Screening: Landlords sometimes use background checks to screen potential tenants. Kroll Factual Data might surface during this process, potentially influencing their decision to rent to you.

Because of these potential consequences, it’s vital to know if Kroll Factual Data is on your report and to take steps to correct any inaccuracies.

Checking Your Kroll Factual Data Report

You have the right to access a copy of your Kroll Factual Data report. Here’s how:

Contact Kroll Factual Data Directly: Visit their website or contact them by mail to request a copy of your report. You are entitled to one free report annually.
Provide Required Information: You’ll need to provide identifying information to verify your identity, such as your name, address, date of birth, and Social Security number.
Review the Report Carefully: Once you receive your report, review it thoroughly. Pay close attention to the details of any reported incidents, including the date, location, and description.

Disputing Inaccurate Information

If you find inaccuracies on your Kroll Factual Data report, you have the right to dispute them. Here’s how to do it:

Gather Supporting Documentation: Collect any evidence that supports your claim that the information is inaccurate. This might include receipts, witness statements, or court documents.
Submit a Dispute to Kroll Factual Data: Send a written dispute to Kroll Factual Data, clearly explaining the inaccuracies and providing supporting documentation.
Follow Up: Keep copies of all correspondence and follow up with Kroll Factual Data to ensure they are investigating your dispute.

Kroll Factual Data is required to investigate your dispute and correct any inaccuracies. If they fail to do so, you have the right to pursue further legal action.

Frequently Asked Questions (FAQs)

1. How is Kroll Factual Data different from a regular credit bureau?

Kroll Factual Data is a specialized consumer reporting agency focusing on retail loss events, whereas credit bureaus like Equifax, Experian, and TransUnion track your credit history and payment behavior. Kroll’s data is about reported incidents of shoplifting, fraud, or theft, not your creditworthiness.

2. Can Kroll Factual Data affect my credit score?

While Kroll Factual Data doesn’t directly calculate a credit score, the information it contains can influence lending decisions. Lenders may consider the presence of reported incidents when assessing your overall risk profile.

3. How long does Kroll Factual Data stay on my report?

Information on your Kroll Factual Data report typically remains for seven years. However, this can vary depending on state laws and the nature of the reported incident.

4. Can a retailer report me to Kroll Factual Data without my knowledge?

Yes, a retailer can report an incident involving you to Kroll Factual Data without your prior knowledge or consent. This is why it’s important to check your report regularly.

5. What if the incident reported to Kroll Factual Data is false or based on a misunderstanding?

If you believe the reported incident is false or based on a misunderstanding, you have the right to dispute the information with Kroll Factual Data and provide evidence supporting your claim.

6. Is Kroll Factual Data used for background checks?

Yes, many employers, especially in the retail and security industries, use Kroll Factual Data as part of their background checks. This is especially true for positions dealing with inventory or money.

7. How often should I check my Kroll Factual Data report?

You should check your Kroll Factual Data report at least once a year, or more frequently if you suspect you may have been involved in a reported incident.

8. What kind of incidents are typically reported to Kroll Factual Data?

Incidents commonly reported to Kroll Factual Data include shoplifting, employee theft, check fraud, return fraud, and other forms of retail loss.

9. What information do I need to provide to request my Kroll Factual Data report?

You will typically need to provide your full name, address, date of birth, Social Security number, and a copy of a government-issued ID to verify your identity.

10. What happens after I submit a dispute to Kroll Factual Data?

Kroll Factual Data is required to investigate your dispute and verify the accuracy of the information. They must contact the retailer who reported the incident and provide you with the results of their investigation.

11. What can I do if Kroll Factual Data doesn’t resolve my dispute?

If Kroll Factual Data fails to resolve your dispute to your satisfaction, you may consider filing a complaint with the Consumer Financial Protection Bureau (CFPB) or consulting with an attorney.

12. Does Kroll Factual Data provide reports to businesses other than retailers?

While primarily focused on retail losses, Kroll Factual Data may provide reports to other businesses for employment screening or tenant screening purposes, depending on the nature of the business and the regulations in place.