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Important opt out information

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By now everyone knows the reasons to opt out with the CRA's.

It prevents them from selling your data to ANYONE.

( If you have no credit concerns and want to get the pre-approved offers, then you should not bother to opt out)

 

However, I have not previously discussed the opt out benefits in the privacy notices everyone gets from their CC Companies, banks, insurance companies and car and home finance Companies.

 

If you opt out on each and every one of them you will gain the same advantage as opting out on your credit reports. These organizations, like the CRA's SELL your data.

 

So if you have avoided a creditor on an old judgment or debt for many years, and finally ( with the help of this forum) have obtained a new credit card or car loan,or mortgage,( or even cell phone) make sure you send in the opt out choice in the privacy form they send you.

 

Otherwise, your NEW phone # or e-mail address will be available to data miners and skip tracers.

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By now everyone knows the reasons to opt out with the CRA's.

It prevents them from selling your data to ANYONE.

( If you have no credit concerns and want to get the pre-approved offers, then you should not bother to opt out)

 

However, I have not previously discussed the opt out benefits in the privacy notices everyone gets from their CC Companies, banks, insurance companies and car and home finance Companies.

 

If you opt out on each and every one of them you will gain the same advantage as opting out on your credit reports. These organizations, like the CRA's SELL your data.

 

So if you have avoided a creditor on an old judgment or debt for many years, and finally ( with the help of this forum) have obtained a new credit card or car loan,or mortgage,( or even cell phone) make sure you send in the opt out choice in the privacy form they send you.

 

Otherwise, your NEW phone # or e-mail address will be available to data miners and skip tracers.

 

I can testify. I applied for my first tradeline in years, BofA almost 2 months ago. Now a collection agency that has never called before is now calling my home.

 

I am now reading the privacy disclosures and beginning to opt out. Great advice as usual WhyChat.

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excellent advice...

 

BUT...

 

some CAs (such as Midland) are sending out those "privacy notices" too...

 

I would NOT suggest sending THOSE out...

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wait a minute; isn't there a way to "opt-out" by just calling the CRA?

 

yes, that's what WhyChat said in the first place. It's the second paragraph that addresses the additional opt out methods.

 

Sometimes the "blanket" opt out with the CRA's doesn't provide a big enough "blanket"

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excellent advice...

 

BUT...

 

some CAs (such as Midland) are sending out those "privacy notices" too...

 

I would NOT suggest sending THOSE out...

I don't know why you suggest that!!

 

If you send in the privacy notice they can't sell your data to ANYONE, this would include another CA. It would effectively prevent them from transferring the account to another ( even lower) bottom feeder.

 

This is FEDERAL law, not a gimmick to get you to verify your address. :blush:

 

Go here to get the complete facts:

 

http://www.pirg.org/consumer/optout.htm

Edited by Why Chat

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I am not clear on how to opt out from my creditor lists...does this include utility companies, and banks??? do I call them?

 

call 1-888-5OPT-OUT. This will take your name off of lists that sell your info. This would not include banks or utility companies that you do personal business with.

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Thanks for posting this Why Chat.

 

I haven't been reading here long, but the one of the first things I picked up is to always check what you and IDARE post.

 

You guys rock and always post great info.

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OK- somehow my original heading of "OPTING OUT IS YOUR SAVIOR" got lost when the thread was accidently merged into the original opt out thread in the "newbies" section.

 

Let me try to be clear.

THIS THREAD is NOT about opting out from the CRA reports.

 

It is about sending in, (and I suggest CMRR if you are doing it with a CA) the opt out provisions buried in the "privacy notices" you get from banks, finance companies, CC companies, cell phone companies etc. etc. etc.

 

Here is the link from my website:

 

http://www.pirg.org/consumer/optout.htm

Edited by Why Chat

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By now everyone knows the reasons to opt out with the CRA's.

It prevents them from selling your data to ANYONE.

( If you have no credit concerns and want to get the pre-approved offers, then you should not bother to opt out)

 

However, I have not previously discussed the opt out benefits in the privacy notices everyone gets from their CC Companies, banks, insurance companies and car and home finance Companies.

 

If you opt out on each and every one of them you will gain the same advantage as opting out on your credit reports. These organizations, like the CRA's SELL your data.

 

So if you have avoided a creditor on an old judgment or debt for many years, and finally ( with the help of this forum) have obtained a new credit card or car loan,or mortgage,( or even cell phone) make sure you send in the opt out choice in the privacy form they send you.

 

Otherwise, your NEW phone # or e-mail address will be available to data miners and skip tracers.

This is NEW???

 

There are very FEW places that don't sell your information to somebody

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I also thought the opt-out notice was some sort of "bait" from Midland as well. I was in the middle of disputing the accts they had. Thought it was some type of scam to do their work for them.

 

My bad.

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I also thought the opt-out notice was some sort of "bait" from Midland as well. I was in the middle of disputing the accts they had. Thought it was some type of scam to do their work for them.

 

My bad.

I think the JDB's and the subprime OC's have designed their privacy notices to be confusing and difficult to use on purpose.

 

IMO, the opt out on the privacy notices MAY be one of the most useful tools debtors can avail themselves of, as it would seem to prevent transfer to a 3rd party CA from an OC and prevent a JDB like Midland from transferring the data in an account to another CA. :dntknw:

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By now everyone knows the reasons to opt out with the CRA's.

It prevents them from selling your data to ANYONE.

( If you have no credit concerns and want to get the pre-approved offers, then you should not bother to opt out)

 

However, I have not previously discussed the opt out benefits in the privacy notices everyone gets from their CC Companies, banks, insurance companies and car and home finance Companies.

 

If you opt out on each and every one of them you will gain the same advantage as opting out on your credit reports. These organizations, like the CRA's SELL your data.

 

So if you have avoided a creditor on an old judgment or debt for many years, and finally ( with the help of this forum) have obtained a new credit card or car loan,or mortgage,( or even cell phone) make sure you send in the opt out choice in the privacy form they send you.

 

Otherwise, your NEW phone # or e-mail address will be available to data miners and skip tracers.

 

How do you opt out if you have no credit cards? How does opting out help you avoid a judgement?

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By now everyone knows the reasons to opt out with the CRA's.

It prevents them from selling your data to ANYONE.

( If you have no credit concerns and want to get the pre-approved offers, then you should not bother to opt out)

 

However, I have not previously discussed the opt out benefits in the privacy notices everyone gets from their CC Companies, banks, insurance companies and car and home finance Companies.

 

If you opt out on each and every one of them you will gain the same advantage as opting out on your credit reports. These organizations, like the CRA's SELL your data.

 

So if you have avoided a creditor on an old judgment or debt for many years, and finally ( with the help of this forum) have obtained a new credit card or car loan,or mortgage,( or even cell phone) make sure you send in the opt out choice in the privacy form they send you.

 

Otherwise, your NEW phone # or e-mail address will be available to data miners and skip tracers.

 

I think I am confused. So you opt out. Are you not just opting out of receiving offers from credit card companies for new cards? How can NOT opting out of that allow my phone and email address to be available data miners?

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excellent advice...

 

BUT...

 

some CAs (such as Midland) are sending out those "privacy notices" too...

 

I would NOT suggest sending THOSE out...

I don't know why you suggest that!!

 

If you send in the privacy notice they can't sell your data to ANYONE, this would include another CA. It would effectively prevent them from transferring the account to another ( even lower) bottom feeder.

 

This is FEDERAL law, not a gimmick to get you to verify your address. :(

 

Go here to get the complete facts:

 

http://www.pirg.org/consumer/optout.htm

 

 

I don't think it's a good idea to give your signature to the CAs...and if I recall, the privacy notice that Midland sends DOES allow for transferring the account. I'll have to find the one they sent me awhile ago to make sure, but most of them allow for giving data to business partners (otherwise, no bank could sell your account to another bank during a merger, etc, couldn't sell or assign it to a CA...couldn't do anything with it)

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I don't think it's a good idea to give your signature to the CAs...and if I recall, the privacy notice that Midland sends DOES allow for transferring the account. I'll have to find the one they sent me awhile ago to make sure, but most of them allow for giving data to business partners (otherwise, no bank could sell your account to another bank during a merger, etc, couldn't sell or assign it to a CA...couldn't do anything with it)

As I understand the privacy act requirements there are TWO mandated types of "opt outs" in the privacy notices. One allows for data transfers to business partmers etc.the other prohibits ALL transfers of personal data.

 

There has been SO FAR no case law I have seen on the subject of transfers of a DEFAULTED account to a 3rd party CA in any case where the FULL opt out elections were made to the OC. And no case law SO FAR in any case where a JDB who has RECEIVED the FULL opt out has transferred data to another CA or JDB.

 

As you know, Midland and many other JDB's have "affiliated" CA's.

 

IMO, this is a new and interesting area to explore the legal ramifications of a FULL opt out with an OC or JDB. At the very least, it MIGHT legally impede the transfer of a DEFAULTED account by any OC or JDB. :blush2:

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I don't think it's a good idea to give your signature to the CAs...and if I recall, the privacy notice that Midland sends DOES allow for transferring the account. I'll have to find the one they sent me awhile ago to make sure, but most of them allow for giving data to business partners (otherwise, no bank could sell your account to another bank during a merger, etc, couldn't sell or assign it to a CA...couldn't do anything with it)

As I understand the privacy act requirements there are TWO mandated types of "opt outs" in the privacy notices. One allows for data transfers to business partmers etc.the other prohibits ALL transfers of personal data.

 

There has been SO FAR no case law I have seen on the subject of transfers of a DEFAULTED account to a 3rd party CA in any case where the FULL opt out elections were made to the OC. And no case law SO FAR in any case where a JDB who has RECEIVED the FULL opt out has transferred data to another CA or JDB.

 

As you know, Midland and many other JDB's have "affiliated" CA's.

 

IMO, this is a new and interesting area to explore the legal ramifications of a FULL opt out with an OC or JDB. At the very least, it MIGHT legally impede the transfer of a DEFAULTED account by any OC or JDB. :blush2:

 

 

I agree...it IS potentially HUGE...

 

I'm gonna have to re-read the notices...

 

 

I tend to think that a judge would say that they ARE allowed to transfer to another CA (or a first CA in the case of the OC)...in the spirit of the law...

 

however...it IS a VERY interesting concept...

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I agree...it IS potentially HUGE...

 

I'm gonna have to re-read the notices...

 

 

I tend to think that a judge would say that they ARE allowed to transfer to another CA (or a first CA in the case of the OC)...in the spirit of the law...

 

however...it IS a VERY interesting concept...

Well, they are not precluded from transferring the ACCOUNT, just the personal data, i.e. tel#'s, SS # past addresses etc. etc..and POSSIBLY other types of credit "history".

 

In other words, I THINK I may have found a potential "catch 22" loophole between the requirements of the privacy notices ( if fully opted out) and the FDCPA and FCRA requirements on collecting/validating/reporting.

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