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Credit,  Mortgage

How to OPT-OUT of those annoying calls!

May 2, 2023 /

If you have your credit pulled for a mortgage, your name will be sold to any mortgage company that will pay for trigger leads. Consumer credit reporting companies offer you the right to make an informed decision about having your credit sold. Under the Fair Credit Reporting Act (FCRA), the Consumer Credit Reporting Companies are permitted to include your name on lists used by creditors or insurers to make firm offers of credit or insurance that are not initiated by you (“Firm Offers”). The FCRA also provides you the right to “Opt-Out”, which prevents Consumer Credit Reporting Companies from providing your credit file information for Firm Offers. Once you opt out, your name is removed for 5 years; it takes 5 days for the opt out to come into effect once you file.

Below are the steps to be able to have your name removed:

  1. Visit the official website of the consumer credit reporting agencies: Equifax, Experian, TransUnion, and Innovis. They jointly maintain a website called OptOutPrescreen.com, where you can opt-out of receiving pre-screened offers of credit and insurance.
  2. Go to www.optoutprescreen.com, and you will find two options: “Click Here to Opt-In” and “Click Here to Opt-Out.” Choose the option to opt-out.
  3. You will be given two choices: opting out for five years or opting out permanently. To opt-out for five years, you can complete the online form. To opt-out permanently, you will need to complete the online form and follow additional instructions to mail a signed Permanent Opt-Out Election form.
  4. Provide the necessary information, such as your full name, address, Social Security number, and date of birth. This information is required to verify your identity and ensure your request is processed correctly.
  5. Submit your opt-out request. You should receive a confirmation of your submission. It may take a few weeks for your request to be fully processed and for the solicitations to stop.

Keep in mind that opting out of firm offer solicitations will not completely stop all unsolicited credit and insurance offers. You may still receive offers from companies with which you have an existing business relationship or from those that obtained your contact information through other means. However, opting out will significantly reduce the number of such offers you receive.