173 replies to this topic

[breeze]

You opt out by calling 1-888-5OPT OUT

the reasons are in these products - lists that are sold. If you opt out CRA's cannot sell your info, only someone with permissible purpose can get your info.

Look mainly at the collections and skip trace info.


You only read the good parts, wake up read the bad parts.

Trans Union
http://www.transunio...ndFinancial.xml

TransUnion Customer Management
In a diverse marketplace, existing customers are one of your best sources for future growth. TransUnion offers a full suite of solutions to help you increase the value of your existing relationships by identifying which customers are suitable for additional products. Our solutions enable you to monitor your current portfolios to identify these extra opportunities in a timely manner, while reducing risk at the same time. And our fraud prevention services help you to protect your customers while increasing their potential for revenue growth.

TransUnion Collections Management
TransUnion can help make your collections processes simple, effective and successful. Our advanced solutions give you access to current information for virtually every market-active consumer in the U.S., so you can locate missing debtors more cost efficiently. We help you better allocate workflow and determine appropriate staffing levels through advanced analytics that assess a debtor's ability and likelihood of repaying.

More details on TU
http://www.transunio...sManagement.xml

from Equifax
http://www.equifax.com/biz/index.shtml

from Experian
http://www.experian....stry/index.html

[InsultComicDog]

I hope I'm not straying off topic here, but as I recall there is another "credit bureau", Innovis, which sells similar products to customers, allegedly just for marketing purposes. It occurs to me that there must be a way to opt out of their bureau's products as well?

[IHateSherman]

You can also opt out online by going to http://www.optoutprescreen.com (this link is the one they give out when you call 1-888-5optout)

this link is good as of Jan 2006

Edited by breeze, 28 January 2006 - 02:27 PM.

[eeyorefanatic]

The opt out page ioncludes Innovis.

[radi8]

The most vicious marketing list, IMHO- is the list of mortgage shoppers.

Once that inquiry from a mortgage company hits your reports, you go on the list- which is sold to CA's, debt buyers, etc...

They know that you're mortgage shopping.
They also know that you won't be able to close without paying off negatives on your report.
They toss their collections on your report and sit back, waiting for a check.


Opting out prevents your name from being included on that marketing list.

[Alex]

The most vicious marketing list, IMHO- is the list of mortgage shoppers.

Once that inquiry from a mortgage company hits your reports, you go on the list- which is sold to CA's, debt buyers, etc...

They know that you're mortgage shopping.
They also know that you won't be able to close without paying off negatives on your report.
They toss their collections on your report and sit back, waiting for a check.


Opting out prevents your name from being included on that marketing list.

<{POST_SNAPBACK}>

It's great that you point that out. Personally I can't find any reason to be opted in. With identity theft being such a huge and growing crime in the 21st century the risk of being opted in is just to great.

For those with unpaid debts, well it should go without saying that you want to stay as invisible as possible until those debts are either paid or are uncollectible.

[Kaligirl]

Thanks for the info. You guys are good.

[Pavlov]

It's great that you point that out. Personally I can't find any reason to be opted in. With identity theft being such a huge and growing crime in the 21st century the risk of being opted in is just to great.

Some well respected people on this and other sites believe it is good to be on these lists because of the " pre approved " letters one often receives in the US Mail, the chances of " B " of inquiries, and other reasons. I opted out years ago, but there are supposedly some real believers in not opting out. I guess some others would be better to speak of the benefits of not opting out, because I agree with you--opting out is the best for me.

[GEORGE]

"OPT-OUT"

NO PRM HELPED "B"

NO "PRE-APPROVED" TYPE OFFERS

"SOME" PRM OFFERS ARE NOT WHAT THEY GIVE TO THE GENERAL PUBLIC FOR A "COLD-CALL" APPLICATION

[GEORGE]

The most vicious marketing list, IMHO- is the list of mortgage shoppers.

Once that inquiry from a mortgage company hits your reports, you go on the list- which is sold to CA's, debt buyers, etc...

They know that you're mortgage shopping.
They also know that you won't be able to close without paying off negatives on your report.
They toss their collections on your report and sit back, waiting for a check.


Opting out prevents your name from being included on that marketing list.

<{POST_SNAPBACK}>

It's great that you point that out. Personally I can't find any reason to be opted in. With identity theft being such a huge and growing crime in the 21st century the risk of being opted in is just to great.

For those with unpaid debts, well it should go without saying that you want to stay as invisible as possible until those debts are either paid or are uncollectible.

<{POST_SNAPBACK}>

I CAN'T FIND ANY REASON TO "OPT-OUT"

(with 2 exceptions---MORTGAGE IN 6 MONTHS and/or CA'S AFTER YOU)

[hegemony]

immediately post BK opting out may not be best because it might delay getting subprime offers which are important to use to help rebuild ASAP.

[bandolph]

The most vicious marketing list, IMHO- is the list of mortgage shoppers.

Once that inquiry from a mortgage company hits your reports, you go on the list- which is sold to CA's, debt buyers, etc...

They know that you're mortgage shopping.
They also know that you won't be able to close without paying off negatives on your report.
They toss their collections on your report and sit back, waiting for a check.


Opting out prevents your name from being included on that marketing list.

<{POST_SNAPBACK}>

This is exactly what happened to me. I applied for a mortgage and lo and behold a unmentionable Bank called an account that had been in BK as a chargeoff.
Keep your BK papers handy because I needed them to prove that the tradeline
was fradulentto get the mortgage.

[OhBoyOhBoy]

Can you opt in? How?

Edit -

Nevermind found it on the Opt Out website.

Edited by OhBoyOhBoy, 24 February 2005 - 12:57 PM.

[sparklediamant]

Done! I've got the first step out of the way!

[sub_zer0]

is there a way to check if you have indeed opted out, i mean after you complete the form on the website. i just did it a few mins ago and i want to make sure that it went through? anyone ???

[radi8]

is there a way to check if you have indeed opted out, i mean after you complete the form on the website. i just did it a few mins ago and i want to make sure that it went through? anyone ???

<{POST_SNAPBACK}>

I believe it takes several days for the block to become effective.

Your equifax report will state "File Blocked for Promotional Purposes" at the top- the other two will confirm over the phone, or via letter.

[sub_zer0]

thanks for the info i'll pull my CR in a few days to check on that.

[runner18]

I'm a Newbie, which I'm sure you'll be able to tell from my questions. I've read the Newbie boards and many other posts and I think I understand the 'Opt Out' option, but just want to be sure.

I moved, and happily the collection letters/calls haven't found me in over a year. If I opt out with my new address, can anyone obtain that new address from the CRA's? Most everything I've read says the CRA's can't sell my address for promotional reasons, but can a collector check the personal info on my credit report, and would that be updated when I provide the new address to Opt Out? Sorry for the long question -- I've gotten used to the wonderful quiet of not having the phone ring, but would like to Opt Out and continue w/ the rest of the steps you recommend. Right now I'm even afraid to order my CR online for fear that the updated address on the credit card I use will be noted by the CRAs and trigger new calls/letters. Yeah, I'm a little paranoid and made some mistakes in the past -- I'd just like to try to clean up some of them and move on without waking the sleeping dogs.

[creditfreedom]

FWIW...I opted-out both myself and DH about a week ago...the phone stopped ringing almost immediately! It's actually very nice and quiet around here...at least till the kids get home!

CF

[Sanitizer]

is there a way to check if you have indeed opted out, i mean after you complete the form on the website. i just did it a few mins ago and i want to make sure that it went through? anyone ???

<{POST_SNAPBACK}>

I believe it takes several days for the block to become effective.

Your equifax report will state "File Blocked for Promotional Purposes" at the top- the other two will confirm over the phone, or via letter.

<{POST_SNAPBACK}>

TU has a column entitled, "Special Messages" that will read:

"Promotional Opt-Out: This file has been opted out of promotional files supplied by Transunion. (Note: This statement has no expiration date.)"

[Cheech]

The most vicious marketing list, IMHO- is the list of mortgage shoppers.

Once that inquiry from a mortgage company hits your reports, you go on the list- which is sold to CA's, debt buyers, etc...

They know that you're mortgage shopping.
They also know that you won't be able to close without paying off negatives on your report.
They toss their collections on your report and sit back, waiting for a check.


Opting out prevents your name from being included on that marketing list.

<{POST_SNAPBACK}>

I have not found this to be true. I opted out several months before shopping for a mortgage, and confirmed that my report stated "File Blocked for Promotional Purposes." However, within 2 days of getting a mortgage inquiry, I had collections start popping up on my EQ and EX reports. Fortunately, my lender didn't do another credit pull, so I didn't have to pay them, but I'm still trying to get the 4 new collection accounts off my reports. Opting out did not seem to help me. Any idea why?

[sub_zer0]

i have 2 addresses but i opted out only using one of them - almost everything i have is withthis address . does it matter which address is used ? do i have to optout of both or..???

[madflower]

Hey staying opted in helped me!! I got multiple offer for 0% interest credit cards. i have 13k on 0% credit cards for a saving of like 50 bucks a month in interest. =) However, now my Fico score has dropped 150 points, but who the heck really cares about that? I am making money off their money.

[pryan67]

you can get those cards anyway usually....


if your FICO has dropped 150 points, be ready for rate jacking...


the ONLY thing being opted in is good for is if you WANT CAs to be able to find you, or you're too lazy to search for offers yourself and it's THAT important to your self esteem that you get them in the mail...

[GEORGE]

Nobody really EXPECTS a drop in score of 150 points...THAT IS INSANE!!!

That is F.I.C.O. retaliation (because they can)

Just like they CAN make you BIG TIME score drop for making a $50,000 payment on credit card debit in one month

F.Y.I. NOT EVERYBODY HAS CA'S AFTER THEM!!!

Edited by GEORGE, 06 March 2005 - 10:34 AM.