Opt Out: Why you should Opt-Out
by rebuildcreditscores.com
by rebuildcreditscores.com
| Copyright RebuildCreditScores 2008. All Rights Reserved |
These companies not only store massive
amounts of often erroneous, inaccurate
information about your credit habits; they also
gather and sell your private personal credit
information to potential banks, lenders, credit
card companies, insurance companies, landlords
and even employers.
Your private credit information is sold to
telemarketers, marketing and mailing list
companies. It is a sure bet that all three major
credit reporting agencies has sold and profited
off your private credit information.
amounts of often erroneous, inaccurate
information about your credit habits; they also
gather and sell your private personal credit
information to potential banks, lenders, credit
card companies, insurance companies, landlords
and even employers.
Your private credit information is sold to
telemarketers, marketing and mailing list
companies. It is a sure bet that all three major
credit reporting agencies has sold and profited
off your private credit information.
Five Reasons to Opt Out
1. Mortgage Loan Marketing Lists. One of the most popular marketing lists credit
reporting agencies sell are of those which contain information about consumers shopping
for a mortgage loan. As soon as an inquiry from a mortgage company hits your credit
reports, your information is packaged and sold to junk debt buyers and collection agencies.
(Now do you realize how that old debt ended up on your final escrow documents?)Anyone
getting a mortgage knows that before your loan is funded, the lender will require you to pay
off collection debts.
2. Unpaid Debts. If you have outstanding unpaid debts you may want to stay invisible to
the credit reporting agencies until those debts are either paid or become collectible due to
Statute of Limitations. Junk debt buying has become a billion dollar industry full of
violations, fraud and deceit. The debt buying industry continues to grow and often the debts
they are collecting are erroneous and uncollectible by law.
3. Unshared Profits. Credit reporting agencies should not be able to profit from selling
your information. You are entitled to one free report every 12 months. That report does not
come with your credit score, that is an extra fee. Yet, the credit bureaus profit daily off of
your information by packaging and selling it. It's an unfair system and until more restraints
are put on the credit reporting agencies, you need to opt out and take control of your credit
information.
4. Permission Not Granted. Do you recall opting in? When did you give permission for
your information to be sold on the open market and you not get any portion of the profit? If
you have bad credit you are especially valuable to the credit reporting agencies. Credit
card companies and other lenders will offer you credit but it will be at ridiculous interest
rates. When you dispute an error on your credit report, there is little incentive for correcting
mistakes. Bad credit is a lucrative business for banks and lenders.
5. Take Control. When you opt out you prevent your credit information from appearing on
the credit bureaus' marketing lists. They cannot include your name on any marketing list or
sell your credit history information.
To opt out today go to www.optoutprescreen.com or call (888) 5-OPTOUT or (888)
567-8688 . By opting out online your information will not be sold for 5 years. If you prefer to
permanently opt out you will have to put your request in writing.
1. Mortgage Loan Marketing Lists. One of the most popular marketing lists credit
reporting agencies sell are of those which contain information about consumers shopping
for a mortgage loan. As soon as an inquiry from a mortgage company hits your credit
reports, your information is packaged and sold to junk debt buyers and collection agencies.
(Now do you realize how that old debt ended up on your final escrow documents?)Anyone
getting a mortgage knows that before your loan is funded, the lender will require you to pay
off collection debts.
2. Unpaid Debts. If you have outstanding unpaid debts you may want to stay invisible to
the credit reporting agencies until those debts are either paid or become collectible due to
Statute of Limitations. Junk debt buying has become a billion dollar industry full of
violations, fraud and deceit. The debt buying industry continues to grow and often the debts
they are collecting are erroneous and uncollectible by law.
3. Unshared Profits. Credit reporting agencies should not be able to profit from selling
your information. You are entitled to one free report every 12 months. That report does not
come with your credit score, that is an extra fee. Yet, the credit bureaus profit daily off of
your information by packaging and selling it. It's an unfair system and until more restraints
are put on the credit reporting agencies, you need to opt out and take control of your credit
information.
4. Permission Not Granted. Do you recall opting in? When did you give permission for
your information to be sold on the open market and you not get any portion of the profit? If
you have bad credit you are especially valuable to the credit reporting agencies. Credit
card companies and other lenders will offer you credit but it will be at ridiculous interest
rates. When you dispute an error on your credit report, there is little incentive for correcting
mistakes. Bad credit is a lucrative business for banks and lenders.
5. Take Control. When you opt out you prevent your credit information from appearing on
the credit bureaus' marketing lists. They cannot include your name on any marketing list or
sell your credit history information.
To opt out today go to www.optoutprescreen.com or call (888) 5-OPTOUT or (888)
567-8688 . By opting out online your information will not be sold for 5 years. If you prefer to
permanently opt out you will have to put your request in writing.
More Resources
Disputes
Tips for Disputing Negative information in your Credit Files.
Debt Validation
How to halt the collection process by requesting a collection agency to validate
your debt.
Get Deletions
Request Deletions when paying a negative account because paid collections do
not change your credit scores.
Your States Statute of Limitations
Learn the amount of time a creditor can sue you for a debt according to your State.
Tips for Disputing Negative information in your Credit Files.
Debt Validation
How to halt the collection process by requesting a collection agency to validate
your debt.
Get Deletions
Request Deletions when paying a negative account because paid collections do
not change your credit scores.
Your States Statute of Limitations
Learn the amount of time a creditor can sue you for a debt according to your State.
Experian, Equifax and Transunion are multi-million dollar companies that have shown a
steady growth over the years. Consumers may just think of them as credit reporting
agencies but they are much more.
steady growth over the years. Consumers may just think of them as credit reporting
agencies but they are much more.
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