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Sure glad I printed this out


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Posted by jkELLY (141.151.91.180) on May 24, 2004 at 16:03:01:

In Reply to: OPT-OUT Explanation posted by anonnnny on May 24, 2004 at 15:24:25:

I will have it memorized soon (grin)

The CRA's sell their lists of data to companies that pay for it, this data comprises of just the name and address of the person, and also it the subscriber has paid for the additional service, a listing on people who have recently moved, or obtained new phone service, or are applying for a mortgage or car loan.
If you have good credit, and your zip code is in the correct demographics, you will get soliciations from credit card companies for very good offers of credit. if you have poor credit, you willget offers from sub-prime companies.
If your name pops up on a list that a "garbage" CA has purchased, they will match it (all done by an automatic program) with accounts that have defaulted, 5-10 sometimes 15 years ago. it may not even BE your account, but they will put it on your credit reports as if it is a "fresh"collection account.
The reason they get away with this, is that they frequently do tis "poisoning"of your reports just when you are getting ready to close on a mortgage loan, and will pay just to get rid of them.
So, if you have good credit, want offers of credit, have NO"old" accounts that will resurface and have an uncommon name, you do not need to Opt Out, everyone else DOES.


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