The Past Returns, Now What?

[Anonymous]

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@Creditaddict wrote:

I pobably will go the freeze route after I get a couple more things cleaned up and hopefully a "Good" credit card.

When I went into the BK after about 6 months I froze all my reports, then I unlocked them about a year later but left EX froze for several years because if they were not going to let me check my fico I was not going to let anyone else either!

So far only one collection company pulled a hard on my credit back in 2010 I think it was but the account is already gone.

However my friend just asked me to help him again repairing his and he had 5 hard inq within last year for collection companies... none for actual applying!! That's bad!!

And even though current creditors are suppose to have access even when reports are frozen, I have never seen a credit get a report of mine without me unlocking it when it was frozen and talking to current companies.

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I am Opted Out and have all three of my reports froze, a current creditor can still soft your reports for AR's and such, but they can not hard you while your report is froze, I called Barclay the other day for a CLI request and the CSR told me I would have to do a Global lift on my TU report for him to process my request, I said, no thanks and plesantly ended the call.

My worries are whoever stole my identy years ago, still having my info and now that my credit is good enough for him/her to try and steal it again. I've worked too hard to allow some looser to come back and ruin all that I've done.

((I'd LOVE to find this person tho, it would be a very bad day for him))

[haulingthescoreup]

I know that you like to app, but you need to opt out AND freeze now. JDB's buy lists from credit bureaus, and I'd say you're on their radar now. If you freeze your reports, the CRA's can't sell them.

edit: OK, I may have misspoken here. I thought I remembered reading that freezing offered an extra level of protection, but I might be hallucinating.   See below.

[Varakai]

+2

Opt-out and freeze.

I've enjoyed reading your posts and have read several old posts from you. You've worked hard. Don't wait to opt-out and freeze just  to get 1 more good card. The chances of that happening right now are slim at best IMO. If I were you, I wouldn't risk further damage to my credit profile and see all my time and efforts being erased. Opt-out, freeze and let things cool off for a while and deal with the current issues at hand instead of allowing others to continue to snoop around and do much more potential damage.

You are absolutely free to make your own decissions etc and this is just friendly advice on my part. Hate to see this happen.

Wish you the very best regardless!!!

[bichonmom]

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@haulingthescoreup wrote:

I know that you like to app, but you need to opt out AND freeze now. JDB's buy lists from credit bureaus, and I'd say you're on their radar now. If you freeze your reports, the CRA's can't sell them.

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Hauling, If I understand your post correctly, does that mean that if our reports aren't frozen, then the CRBs can sell our info, even when we are opted out? I'd just like some clarification because I have not gone through the time and expense to freeze, since the CRBs confirmed that even frozen, any CAs can still do a HP. I realize that's different than their selling my info to a creditor, JDB, etc. I *thought* that opting out protected me from that, so if not, I'd like to know, as that is one of my concerns.

Thanks!

[Varakai]

That is correct. A credit freeze prevents bureau's from releasing your info without your authorization. It also prevents anyone, incl you, from applying for credit. And last, no-one will be able to pull your credit report. Businesses you already have accounts with or collection agencies working on your creditors behalf can still access your report.

Opting-out merely stops the flow of credit card/insurance/etc offers that are based upon info contained within your credit report but does not prevent the above from happening.

[haulingthescoreup]

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@bichonmom wrote:

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@haulingthescoreup wrote:

I know that you like to app, but you need to opt out AND freeze now. JDB's buy lists from credit bureaus, and I'd say you're on their radar now. If you freeze your reports, the CRA's can't sell them.

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Hauling, If I understand your post correctly, does that mean that if our reports aren't frozen, then the CRBs can sell our info, even when we are opted out? I'd just like some clarification because I have not gone through the time and expense to freeze, since the CRBs confirmed that even frozen, any CAs can still do a HP. I realize that's different than their selling my info to a creditor, JDB, etc. I *thought* that opting out protected me from that, so if not, I'd like to know, as that is one of my concerns.

Thanks!

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I am now completely stuck, trying to untangle which does what.

I apologize for any confusion. It was a loooong day, and I'm going to need to do some research on this.

If anyone wants to jump in and rescue me, you are very welcome!

[Varakai]

Hauling, read mypostjust above yours. It explains both credit freeze and opting-out.

[haulingthescoreup]

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@Varakai wrote:

That is correct. A credit freeze prevents bureau's from releasing your info without your authorization. It also prevents anyone, incl you, from applying for credit. And last, no-one will be able to pull your credit report. Businesses you already have accounts with or collection agencies working on your creditors behalf can still access your report.

Opting-out merely stops the flow of credit card/insurance/etc offers that are based upon info contained within your credit report but does not prevent the above from happening.

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Correct, but one tactic that JDB's use is to buy lists of consumers who have recently applied for mortgages, and try to match names to those on their lists of old open collections. If they find a match, or what they like to pretend is a match, they slap a collection on your report. These lists are similar to those sold to CCC's and roof repair companies and insurance companies, and they are blocked by opting out.

A credit freeze is more specific, in that it prevents someone from pulling your report unless they already have permissible purpose (you're an existing customer, etc.)

JDB's use the soft pull lists (that are blocked by opting out) to target potential consumer victims. It wouldn't be worth their while financially to randomly pull your reports (which would be blocked by a credit freeze) in hopes of finding targets.

So the lists that they buy which are blocked by opting out are how they cast their nets in hopes of catching you. It's the initial step, I guess you could say.

[MarineVietVet]

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@Varakai wrote:

That is correct. A credit freeze prevents bureau's from releasing your info without your authorization. It also prevents anyone, incl you, from applying for credit. And last, no-one will be able to pull your credit report. Businesses you already have accounts with or collection agencies working on your creditors behalf can still access your report.

Opting-out merely stops the flow of credit card/insurance/etc offers that are based upon info contained within your credit report but does not prevent the above from happening.

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But that's not all it does. 

Opting out inhibits baddies like CAs from sniffing around your reports. The CRAs sell your info and if so subscribed, the CA will get alerted if an inquiry appears from a mortgage lender or the like. In turn, the CA might opt to report knowing that most lenders will require you to take care of that debt first. Opting out prevents the CA from receiving that info.

From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[mAndrew1980]

Think I'm gonna opt-out after reading this thread. I don't want anybody sniffing around my reports. At this point I don't really have too many skelatons in the closet  (thank God) but you never know. still got one thing I can think of that could potentailly come back.