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Even if its not on your credit report, they know more about you than you think

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johnnypinaz
New Contributor

Even if its not on your credit report, they know more about you than you think

Have you ever wondered why you THINK you will qualify for a loan but then you dont... I havent seen this talked about but I have confirmed its real...

 

A month ago I went to apply for a car loan, I knew exactly what was on my credit reports. After pulling my reports they came back and asked me about an address which popped up. There was no way they knew about this address because I had not even moved into it yet, and I pull my daily credit reports.

 

The loan went through but a month later I got a letter stating they had pulled additional information from LexisNexis.  I did some research on this and found there is a whole other company out there gathering data from you and it is used when applying for loans. I also know that Patelco Credit Union used this on me.

 

There are negative things that pull up about me (judgements and dismissed BK) that do not appear on my credit reports but are still pulled up. Also all of the incorrect spellings of names, past addresses, anything that may have been cleaned on your credit report.

 

What I did find out is by law you can opt out of this if you are in law enforcement, have been a victim of id theft and several other reasons. Its up to you to decide if you fall into any of that. Personally I think it's BS we are not told about this in the first place.

 

Anyways, here is the link to opt out. You can additionally opt out of being in a public database used for marketing. For this you dont need a reason. So yeah, they also sell your info for marketing... total BS.

 

 I already called them this morning and they had no problem confirming what I thought. You can also have them send a you a FREE copy of your report and you can dispute certain things (judgements, BK, etc.). You can no dispute incorrect info like SS#, spelling of names, addresses... what? really? nope.

 

https://www.lexisnexis.com/opt-out-public-facing-products/Default.aspx

 

 


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1 REPLY 1
RobertEG
Legendary Contributor

Re: Even if its not on your credit report, they know more about you than you think

Credit report exclusion is only a partial shield against others becoming aware of adverse information in a consumer's past.

It was never intended to erase a consumer's prior adverse credit history.

If a credtior relies only on obtaining a copy of the consumer's credit report, then credit report exclusion will shield the info from easy disclosure.

 

However, public record information is available to anyone who wishes to review existing public records.

While there are businesses that compile public record information, and may provide the consumer the ability to opt out of inclusion in their data base, the public record still exists.  Another level of concealing past info may be to opt out with such services, but in the end, it can still be obtained if desired.

 

If public record information is erroneous, such as due to identity theft, there are ways to pursue its correction or deletion from public records.

 

As for lack of ability to dispute public record and/or personal identifier information, that applies to direct disputes under the FCRA, and thus correection of consumer credit reports.  It does not pertain to correction of the public record information itself, which has its own means of remedy, such as by contacting the court responsible for the record.

The direct dispute process set forth in FCRA 623(a)(8) and implementing rules at 16 CFR 660.4 realized that public record and personal identifier information usually has no identified "furnisher" of the information who is responsible for its accuracy, and thus responsible for investigating a direct dispute.  They were thus exempted from the FCRA direct dispute process.

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