Here is a little known benefit of The Fair Credit Reporting Act of 2004 that most people do not take advantage of. Most people have signed up for the National Do Not Call List, so why not sign up for OptOutPrescreen.com. This Web site is provided by the four major Consumer Credit Reporting Companies, Equifax, Experian, Transunion, and Innovis.
Under the Fair Credit Reporting Act, these companies can sell your information to companies who want to mail to you firm offers of credit or insurance. By this we are referring to the ridiculous amount of credit card offers you receive in the mail as well as those companies wanting to sell you life insurance to cover the cost of your mortgage which they know so much about (i.e. - who the lender is and your loan amount). The Fair Credit Reporting Act also gives you the right to "opt-out" of the program as well.
Simply go to www.OptOutPrescreen.com and sign up. You can choose to opt-out for 5 years by filling out the online form. If you want to opt-out permanently you need to print off and mail in a form. Of course they give you the option to Opt-In to the program if you change your mind once you Opted-Out of it.
Even though your name will be removed from the lists that Equifax, Experian, TransUnoin and Innovis provide to businesses for the purpose of making you a firm offer of credit or insurance, you could continue to receive offers from sources that do not use Consumer Credit Reporting Companies to create their mailing lists.
You may not Opt-Out from Direct Mail Association (DMA) lists through the OptOutPrescreen.com website.
The DMA tracks consumers who request not to receive mail or telephone solicitations. The DMA can provide information about Opting-Out of lists produced by companies that subscribe to its Mail and Telephone Preference Services. You may contact the DMA at the following web address: http://www.dmaconsumers.org/consumerassistance.html.
