Local Market Pulse
Posted on December 06, 2011
Credit Score Warnings! Steps to take before applying for credit!

Prescreened Offers of Credit and Insurance:

Before applying for any type of consumer credit do these following steps before that application to stop unwanted solicitation from credit and insurance companies. (“Prescreened Offers of Credit”)

** Every time you apply for credit you are subject to unsolicited calls, emails and physical mail from companies that are able to purchase information from the credit agencies alerting them to the fact that you applied for credit.**


Your name is actually worth quite a bit. The only problem is that you aren’t the one benefiting from it. Very few people realize that each time their credit is checked, the information provided to the credit bureaus immediately becomes a commodity that is sold not only to other lenders but also to companies that sell and resell the same names and personal information. The main credit bureaus are (Equifax, TransUnion, Innovis or Experian).
 
The credit bureaus have found a way to increase their revenues at your expense….and without your permission. These ‘trigger leads’ include name, address, phone numbers (including unlisted), credit score, current debt and debt history, property information, age, gender and estimated income.

To be removed from the list and stop all unsolicited contact, follow the steps below from the FTC (Federal Trade Commission) or visit their website:

www.FTC.gov/bcp/edu/pubs/consumer/credit/cre17.shtm

Step 1:  Opt-Out of unsolicited credit and insurance offers for 5 Years or Permanently www.OptoutPrescreen.com (run by the 3 credit agencies)

Step 2:  Add your Home Phone and Cell Phone to the Do Not Call Registry

www.DoNotCall.gov

3. Add your Home Address/ Email Address to the DMA (direct marketing assoc.) Mail Preference Service (MPS): Opt out of email/mail solicitations.

www.DMAChoice.org

Please allow your loan officer to Opt-Out for you before the loan application has been processed. You will certainly have a much more pleasant transaction!

Kyle J. Jackson
MLO-34524
425-829-4029

For More on This Or Any Other Topic.....Please Call or email!
HomesbylenderWA@gmail.com

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About the Author
Kyle Jackson
Mortgage Advisor
Sound Mortgage, Inc. Nmls-38439
5250 Carillon Point
Kirkland, WA 98033
Office:
Mobile: 425.829.4029
Contact Me