topic Re: Question on Opting Out in General Credit Topics

Question on Opting Out

Jacque383 — Wed, 11 Jul 2007 03:35:14 GMT

Alright, this may be a silly question to all of you...But I keep reading about "opt out" as the first step in fighting collections....

What are you opting out of?

Where is this opt out?

What is the benefit of Opt Out?

Why are you Opting out? This may be answered in the previous questions, but thought I'd throw it in there just in case.

Again, I'm still new and learning - with so much information I want to make sure I understand and do everything I can possibly do to up my credit scores.

Thank you.

Re: Question on Opting Out

Anonymous — Wed, 11 Jul 2007 04:49:14 GMT

Just call the toll free number, and you can opt out of receiving pre-approved CC offers in the mail. You'll save a few trees, allow your postal carrier to lighten their sack, and pre-approval generally ain't worth the paper it's printed on. Pre-approval generally means pre-selected. Doesn't mean you are in any way guaranteed a CC.

http://www.ftc.gov/privacy/protect.shtm#Credit

The national credit bureaus offer a toll-free number that enables consumers to opt-out of all pre-approved credit offers with just one phone call. Call 1-888-5-OPTOUT (1-888-567-8688) for more information.

Re: Question on Opting Out

Jacque383 — Wed, 11 Jul 2007 05:08:32 GMT

Once again...thanks..I did call the number.

However, why does everyone recommend to "opt out" before addressing collection agencies? Why would that matter?

Re: Question on Opting Out

Anonymous — Wed, 11 Jul 2007 05:12:46 GMT

Jacque383 wrote:
Once again...thanks..I did call the number.

However, why does everyone recommend to "opt out" before addressing collection agencies? Why would that matter?

Ya got me. Opt out reduces one's junk mail, and it reduces your vulnerability to ID theft if someone steals a pre-approval letter outta your mailbox. It can also reduce the number of soft INQs, but soft INQs aren't a problem.

Re: Question on Opting Out

Jacque383 — Wed, 11 Jul 2007 05:15:58 GMT

Well I called because I can see the value of opting out. Especially when I check my mailbox everyday and throw away at least 1/2 of the mail due to these types of mailings...