How To Stop The Credit Bureaus From Giving Your Information To Potential Lenders

The credit bureaus are out here telling folks about your business. Here’s how you can stop them.

Are you receiving an onslaught of pesky calls from potential lenders or “pre-screened” offers from credit card companies? This may be because the credit bureaus have sold your information.

Under the Fair Credit Reporting Act, credit reporting agencies such as Transunion, Equifax, or Experian are legally allowed to sell your credit information, including an unlisted phone number, to potential lenders.

“Trigger leads” occur when a lender gives specific criteria to the credit reporting agencies, and the agencies create a report based on those criteria. The National Law Review states that the most common trigger event is when one applies for a mortgage.

Harry Samler, investigative reporter for Atlanta News First, said that after he applied for a loan, he received more than 100 calls from potential lenders in one day.

“Three lenders confirmed they received my number from one of the three major credit bureaus: Experian, Equifax, and Transunion,” Samler wrote for Atlanta News First.

Unless you opt out, all three major credit reporting agencies provide your personal information to third-party lenders.

“We use and sell personal data to non-affiliated parties for the following commercial purposes: Commercial credit reporting. Some of our affiliates collect, use, and sell personal data when acting as a consumer reporting agency, as this activity is regulated by the FCRA,” Equifax states on its website.

There are several ways to opt out at Equifax. Consumers can call 888-5-OPT-OUT (1-888-567-8688). Click here to opt-out online.

You call also mail in your request by sending a letter to:

Equifax Information Services LLC
P.O. Box 740123
Atlanta, GA 30374-0123

To opt out at Experian, click here. You can also send an email to optout@experian.com with your full name, including name variations, address, email address, and phone number.

Transunion requires you to create an account to opt out online. You can also call them at 866-310-8763.

Your cell phone carrier may also provide tools to help reduce unsolicited calls and texts. T-Mobile users can dial #662 to activate the Scam Shield feature, and Verizon users can download the Call Filter app from their phone’s app store.

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