topic Re: Opt Out!! in Mortgage Loans

Opt Out!!

DallasLoanGuy — Fri, 11 Jul 2008 02:55:49 GMT

Is this addressed in the stickies?

If not, can someone write a post? Maybe we can get it adde to the stickies.

Re: Opt Out!!

Anonymous — Fri, 11 Jul 2008 16:44:19 GMT

https://www.optoutprescreen.com

Re: Opt Out!!

Anonymous — Fri, 11 Jul 2008 16:59:04 GMT

Yep, definitely opt out. I opted in briefly at one point (literally only for a week before I opted back out) and had zombie collections resurface on my credit report. Luckily i was able to get them removed because they were past SoL and too old to be reported...but it's still a hassle, stressful, takes time, and you certainly don't want to deal with that while seeking a mortgage!

Re: Opt Out!!

Anonymous — Fri, 11 Jul 2008 17:46:10 GMT

I opted out four months ago. A LO told me it would raise my scores - NOT!

Re: Opt Out!!

Anonymous — Fri, 11 Jul 2008 18:29:29 GMT

TexMontana wrote:
I opted out four months ago. A LO told me it would raise my scores - NOT!

How would opting out raise your scores? That doesn't make much sense. Sorry the LO gave you bad info.

Re: Opt Out!!

Lel — Fri, 11 Jul 2008 20:48:06 GMT

@Anonymous wrote:
Yep, definitely opt out. I opted in briefly at one point (literally only for a week before I opted back out) and had zombie collections resurface on my credit report. Luckily i was able to get them removed because they were past SoL and too old to be reported...but it's still a hassle, stressful, takes time, and you certainly don't want to deal with that while seeking a mortgage!

I don't see how opting in would cause collections to appear. Or do I not understand what opting out means? My understanding is that it would put and end to those unsolicited credit card offers.

Re: Opt Out!!

Anonymous — Fri, 11 Jul 2008 20:52:04 GMT

@Lel wrote:

@Anonymous wrote:
Yep, definitely opt out. I opted in briefly at one point (literally only for a week before I opted back out) and had zombie collections resurface on my credit report. Luckily i was able to get them removed because they were past SoL and too old to be reported...but it's still a hassle, stressful, takes time, and you certainly don't want to deal with that while seeking a mortgage!

I don't see how opting in would cause collections to appear. Or do I not understand what opting out means? My understanding is that it would put and end to those unsolicited credit card offers.

It didn't cause them to appear automatically, but the junk debt buyers purchase the lists of people who are opted in for promo offers and such, so they get your information that way.

I had been opted out since I knew I could be, and the minute I opted in, they came out of the woodwork trying to collect on decade old debts. Paid ones too. Idiots!

Message Edited by UpUpUp on 07-11-2008 04:52 PM