Credit Bureaus Is Your Identity Safe
Let's face it. Your name should be worth everything to you. The reason why is that it is you, and there is only one of you. Here is something that you need to know. Please forward this to others. Many people don't realize that every time that their credit is checked, the information provided to the chosen credit bureaus (Equifax, TransUnion, Innovis or Experian) instantly becomes a commodity that is sold. It goes to not only to other lenders, but also to companies that actually sell and resell the same names and personal information.
Just imagine, credit bureaus have discovered a way to increase their revenues at your expense and it is without your permission.
These 'inquiry leads' include a lot of information, such as your name, address, phone numbers (including unlisted), credit score, current debt and debt history, property information, gender, age, and estimated income.
The fact is that they are marketing your personal, confidential information to competing creditors and making millions on it. Therefore, your privacy is being sold, not just once, but multiple times.
The lenders and others that have purchased these leads at a premium will then do everything they can to recapture their original investment and turn it into a hefty profit. Often, bait and switch tactics are being used to lure clients away from their reputable lender.
There is some good news, though. You can make it stop! There are organizations within the consumer credit reporting industry, which has provided a way for you to "opt out" or remove your name from these lists. Please note - in many cases, you must opt out at least 48 hours prior to having your credit checked to make sure it is processed in time. You can either choose a five year or lifetime option. The lifetime option does require a signed form.
Currently, the practice of generating and selling these lists is allowed by the law. If you would like to send a complaint about this or have been targeted after opting out, you can contact the FTC or your state Attorney General's Office directly. These agencies will investigate reported violations. Contacting them is important since in most cases, it is their primary source of information.
The point is as a consumer, it is your right to shop for the best service and price for a product, but this should be on your terms. These unsolicited marketing tactics are a both a nuisance and intrusive. Take your privacy back and don't allow yourself to be a part of this system.
Category: Financial Plan & Invest
Featured Financial Plan & Invest
Related Articles
- How to Reduce Debt Fast
- Financial Scams Await Uninformed House Owners
- Trading Stocks Online - How To Do It
- Debt Reduction Can Set You On Course For A Brighter Future
- The Rich Get Richer and the Poor Get Poorer
- Best Software Programs for Stock Trading
- Stock Picking Strategy - What Works
- Stock Market Trading Strategies and Software - Which Is Best
- How to Open And Set Up An IRA - Who To Cal
- Building a Better Future in an Economic Downturn
- How to Protect Your Identity
- Robotic Trading Systems - Find Reviews
- Top 10 Mistakes Business Owners Make
- Finding Buyers of Structured Settlement Annuities
- Business Loans Why Hire a Professional
- Self Directed IRA and 401k - What Is It
- Find Automated Trading Software and Systems
- The Best Penny Stocks - How to Find them
Business News
Popular Posts
- How to become a problem solver
- Unlocking Happiness and Success- Effective Positive Thinking Techniques
- Mastering the Mindset Shift - Effective Tips for a Positive Transformation
- Why Mind Balance is so important for everyone
- Mind Matters- The Chiropractic Approach to Personal Growth
- Three Sentences from a Billionaire That Changed My Life and Made Me Millions
- Mind Balance - A Comprehensive Solution for Navigating Modern Mental Health Challenges
- Unlocking Potential - The Power of Personality Assessment in Overcoming Obstacles
- Hindu Wisdom for Modern Lives - Balancing Strengths and Weaknesses through Vedic Teachings
- Bridging Divides - Understanding Barriers to Unity and Happiness in World Religions
- Interfaith Insights by 1WorldPeace - The Top 100 Universal Beliefs in Global Spirituality
- Bridging Beliefs - Finding Common Ground in Love and Respect
- Balancing Act - How Understanding Personalities Could Unlock World Peace
- The Universal Appeal of The Book of Seven by J R Wexler - A Beacon of Harmony and Understanding
- The Christian Journey - Understanding the Foundations Traditions and Global Impact
- Preparing Kids for Adulthood - 15 Vital Skills They Wont Learn in School
- How Mind Balance Empowers You Against Misinformation
- Jerusalem's Lesson - A Blueprint for Global Harmony Among Diverse Faiths
- Living the Teachings of Jesus - 100 Lessons for a Compassionate and Faithful Life
- Finding Strength and Safety in Scripture - 25 New Testament Passages to Combat Spiritual Attacks