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FW: preventing sale of personal credit information

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  • Tony & Suford Lewis
    Off topic - but everybody should know that credit reporting companies have this new regulation and you can now escape at least some of your junk mail. Useful
    Message 1 of 4 , Jul 3, 2001
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      FW: preventing sale of personal credit information Off topic - but everybody should know that credit reporting companies have this new regulation and you can now escape at least some of your junk mail.

      Useful info from a lawyer friend in the Alliance for Women's Business & Professional Associations.  I just did it and though it may depend on how your name appears on various lists, it has a good chance of working.  You have three options:  removal for 2 years, reinsertion if you have requested it removed, and removal permanently.  If you request removal permanently, they say that they send you a "notice of election" form.  This should also work to confirm that your name and address were understood.  Since I get mail I assume comes from this kind of list under several variations of my name and address, it will be interesting to see how well this works.

              - Suford

      ----------
      From: Buchj@...
      Date: Tue, 3 Jul 2001 10:08:53 EDT
      To: (addresses withheld)
      Subject: preventing sale of personal credit information


      As of today (July 1, 2001) Credit Reporting Agencies such as Equifax,
      TransUnion, etc. will be allowed to sell your personal credit information.
      However, you can stop this permanently by calling an automated "Opt Out
      service" at 1.888.567.8688 and selecting option number 3 and then, again,
      option 3. I just called for myself. It takes about 2 minutes.

      Hope you are having a terrific summer!


      Jamy B. Buchanan
      Buchanan & Associates
      33 Mount Vernon Street
      Boston, MA  02108
      (617)227-8410
      FAX:  227-9943

    • Elaine Mami
      Thanks! I m going to do this tomorrow! Elaine ... _________________________________________________________________ Get your FREE download of MSN Explorer at
      Message 2 of 4 , Jul 4, 2001
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        Thanks! I'm going to do this tomorrow!

        Elaine


        >From: Tony & Suford Lewis <suford@...>
        >Reply-To: ICG-D@yahoogroups.com
        >To: <ICG-D@yahoogroups.com>, <ptfw@...>,
        ><MCFI-MEMBERS@...>
        >Subject: [ICG-D] FW: preventing sale of personal credit information
        >Date: Tue, 03 Jul 2001 22:21:55 -0400
        >
        >Off topic - but everybody should know that credit reporting companies have
        >this new regulation and you can now escape at least some of your junk mail.
        >
        >Useful info from a lawyer friend in the Alliance for Women's Business &
        >Professional Associations. I just did it and though it may depend on how
        >your name appears on various lists, it has a good chance of working. You
        >have three options: removal for 2 years, reinsertion if you have requested
        >it removed, and removal permanently. If you request removal permanently,
        >they say that they send you a "notice of election" form. This should also
        >work to confirm that your name and address were understood. Since I get
        >mail I assume comes from this kind of list under several variations of my
        >name and address, it will be interesting to see how well this works.
        >
        > - Suford
        >
        >----------
        >From: Buchj@...
        >Date: Tue, 3 Jul 2001 10:08:53 EDT
        >To: (addresses withheld)
        >Subject: preventing sale of personal credit information
        >
        >
        >As of today (July 1, 2001) Credit Reporting Agencies such as Equifax,
        >TransUnion, etc. will be allowed to sell your personal credit information.
        >However, you can stop this permanently by calling an automated "Opt Out
        >service" at 1.888.567.8688 and selecting option number 3 and then, again,
        >option 3. I just called for myself. It takes about 2 minutes.
        >
        >Hope you are having a terrific summer!
        >
        >
        >Jamy B. Buchanan
        >Buchanan & Associates
        >33 Mount Vernon Street
        >Boston, MA 02108
        >(617)227-8410
        >FAX: 227-9943
        >
        >

        _________________________________________________________________
        Get your FREE download of MSN Explorer at http://explorer.msn.com
      • randwhit@aol.com
        ... Pardon me for being skeptical. These organizations have been selling credit information for decades. They aren t likely to stop because of a toll-free
        Message 3 of 4 , Jul 4, 2001
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          >As of today (July 1, 2001) Credit Reporting Agencies such as Equifax,
          >TransUnion, etc. will be allowed to sell your personal credit information.
          >However, you can stop this permanently by calling an automated "Opt Out
          >service" at 1.888.567.8688 and selecting option number 3 and then, again,
          >option 3. I just called for myself. It takes about 2 minutes.


          Pardon me for being skeptical. These organizations have been selling credit
          information for decades. They aren't likely to stop because of a toll-free
          number. How would you verify identity for the opt-out?

          Before you call, consider that sometimes it is a GOOD thing to have a credit
          check readily available. Just try to buy a car or get a mortgage without one.

          Randall
        • Byron Connell
          First of all, this applies only in the U.S. Effective July 1, 2001, Federal law allows credit-reporting agencies, banks, and other organizations to transfer
          Message 4 of 4 , Jul 5, 2001
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            First of all, this applies only in the U.S. Effective July 1, 2001, Federal law allows credit-reporting agencies, banks, and other organizations to "transfer" personal financial information (NOT just name and address) to both "affiliated" and "unaffiliated" parties (i.e., to anybody). This is not the same as having someone request a credit check on you; this is the sale of your personal financial information.

            However, the law required every organization to inform in writing every customer with which it has a credit relationship about its "privacy protection policy." That's why you've been receiving documents in very fine print from your banks, credit card agencies, insurance companies, and so forth. One of the things the "privacy protection statement" was REQUIRED to include was how to prevent the organization from selling your financial information, by "opting out" of its right to do so. Some organizations set up telephone numbers to permit customers to opt out; others required that they do so in writing. The four major credit-reporting agencies (Equifax, etc.) set up a single toll-free number rather than requiring individuals to contact each agency separately.

            As I understood it, however, (and I may be mistaken), the absolute deadline to opt out was June 30, 2001.

            Byron


            >>> randwhit@... 07/04/01 10:07PM >>>
            >As of today (July 1, 2001) Credit Reporting Agencies such as Equifax,
            >TransUnion, etc. will be allowed to sell your personal credit information.
            >However, you can stop this permanently by calling an automated "Opt Out
            >service" at 1.888.567.8688 and selecting option number 3 and then, again,
            >option 3. I just called for myself. It takes about 2 minutes.


            Pardon me for being skeptical. These organizations have been selling credit
            information for decades. They aren't likely to stop because of a toll-free
            number. How would you verify identity for the opt-out?

            Before you call, consider that sometimes it is a GOOD thing to have a credit
            check readily available. Just try to buy a car or get a mortgage without one.

            Randall
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