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opting out and collection agencies?

Regular Contributor

opting out and collection agencies?

Can someone explain how this helps with junk CAs. Who try and after you during the home buying process.
Starting Score: 5/2012 TU 595, EQ 565, EX fako 547
Current Score:as of 9/2012, TU 626,Walmart 612, EQ 600, EX fako 623
Goal Score: 640 by dec 2013
BofA Au 13000, Amazon 600, Capt1 300, Walmart 150
When all else fails pay it!


Message 1 of 5
4 REPLIES
Valued Contributor

Re: opting out and collection agencies?

When you opt out, your credit reports and personal information are not given away for marketing purposes, pre approval purposes, etc etc..

 

When you apply for a mortgage and you havent opted out, generally you can receive all types of offers in the mail and on the phone if your number is listed on reports. The CRA's then generate and sell list to creditors, insurance companies, brokers, etc etc... 

 

Junk CA's receive the information and check it against their database, and since you just applied for a mortgage, know your information is correct and updated. Since junk CA's (all CA's in my opinion) have a bad reputation most of the time, you just never know what tactics they will try to get you to pay them.

Good Luck
May all your dreams and wishes become a reality!
Message 2 of 5
Valued Contributor

Re: opting out and collection agencies?

the can soft you and see your inqs and can see if you have apped for a mortgage, which will make you more inclined to pay

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Message 3 of 5
Regular Contributor

Re: opting out and collection agencies?

So opting out does not effect legitamate creditors who you designate to pull your report or block them?

Starting Score: 5/2012 TU 595, EQ 565, EX fako 547
Current Score:as of 9/2012, TU 626,Walmart 612, EQ 600, EX fako 623
Goal Score: 640 by dec 2013
BofA Au 13000, Amazon 600, Capt1 300, Walmart 150
When all else fails pay it!


Message 4 of 5
Regular Contributor

Re: opting out and collection agencies?

No it does not, it's not a freeze, it's just like being on a do not call list but for credit cards etc.




In The Garden Until 11/01/15 - Last App 11/03/13
Message 5 of 5