All the Consumer has to do is send a letter directly to the For Profit Credit Bureau and demand they stop selling their “Triggers” Their personal information that they receive when a Consumer Fills out any type of over Seventy Financial Applications, and even when they don’t even fill out an app at all. Please, I’ll explain. I was an Expert Debt Collector and I’m living and breathing now to Expose It All for Consumers. Besides Mortgage Applications, If you get your Credit Line Increased, this becomes a #trigger and goes straight to the Collection Agency as a Trig. There is so much to tell you…. But you CAN STOP THE BUREAUS FROM SELLING YOUR INFO.
I’m sure #cbcinnovis is selling them too. Supposedly the #thirdcredibureau
As A collector
you sit at your desk and
wait for the #trigs to come across in a file
ESPECIALLY THE #MTGLI ONES
It tells the collector if they were Denied or approved.
It gives their current address
AND VERY CURRENT PLACE OF EMPLOYMENT
From Mortgage Applications, [to #childsupportinquiries to #rentalapplications, #welfareapplications #foodstampapplications to #creditcards and much much much more…. #whenyoupayoffaloan #whenyouhaveopencreditlimitsraised ……………………this info is sold. I’ll post a thorough list of Trigger Areas in another post.
so they can sue them if they are within the #statuteoflimitatios
Before you know it the plans your making to buy a home are #trampled
because your now being sued, A Judgment if being filed, #judgment, and your also going to get #garnished if allowed in your state. All because YOU APPLIED FOR A MORTGAGE or one of Seventy other types of Applications.
It’s because the Bureaus are selling your info DEFINITELY TO THIRD PARTY DEBT COLLECTORS.
Someone with ANY COLLECTIONS SHOULD NEVER NEVER APPLY FOR A MORTGAGE TILL THEY’VE PAID OR DEALT WITH I. We can show you how to DEAL with it. You’ll be very surprised the info we’re sharing with Consumers. Because we care.
The Collector makes the call to Verify Employment any way they can.
And the Account that’s been in their file, unpaid, #instat Within the Statute of Limitations [the amount of time a person can be sued, for a debt, or their spouse … if their spouse owns property already and they are in a Community Property State. #communityproperty
Yes, this is how it goes down in #every #collectionagency in the #country. It’s no secret.
The collectors will throw it in the #face politely or not so politely of the #consumer during the conversation. It goes something #likethis:
“Ms Hannigan, I noticed you got #denied for your #homeloan #mortageloan . Why don’t you pay this debt before you go getting yourself into more debt. ”
Harassing the Consumer.
The collectors send letters too, you may have received one, outlining the Name of the Firm that denied them credit, “Aura Mortgage Loan Company On The Moon” . So it’s no secret, but what that letter actually is alludes Consumers. Till today.
In my hopes to Expose these #unethical business practices
As I’m journeying to open my business
I came across this PDF Press Release and another article I’ll post a link too at the bottom.
It seems the Mortgage Industry feels the same way
But Consumers can stop their Info from being sold.
The Credit Bureaus have an opt out form for triggers
But you would never know to opt out if you don’t even know what a trigger is right???
So, I’ve made a #kickass letter for consumers, free,
to demand they stop selling your info.
And if they don’t want to respond and verify they have done this
I say, call an Attorney, a #creditattorney to write a letter for you as well. One that will sue them without any cost to you.
The thing is that it’s no just for Mortgages. There are over Seventy ways you as a consumer have your info sold by the Bureaus to Third Party Debt Collectors and other Financial Institutions. I’m on a Quest to inform Consumers about this, and I found this article two day ago.
I found an Article Friday
I’ll post it below this:
Part of the Press Release and the Link to it
WASHINGTON, DC, Feb. 21, 2018 — National Association of Mortgage Brokers (NAMB), an association
that represents the interests of individual mortgage loan originators and small to mid-size mortgage
businesses, has announced that it is seeking to ban trigger leads
Mortgage trigger leads are created and sold by the national credit bureaus. These leads are comprised of
names, contact information and other data, including a significant amount of personal information, for
individuals who have recently applied for a mortgage.
“The credit bureaus compile trigger lists daily and sell them to numerous buyers across the US, including
so-called ‘lead generators,’ who then resell the list to even more companies,” said John G. Stevens,
president of NAMB.
Here is the Article Link:
FOR IMMEDIATE RELEASE
NAMB Seeks to Ban Trigger Leads
The Article States:
At this time, mortgage brokers are unable to prevent credit reporting agencies from including their
borrowers’ personal information on the trigger lead lists they sell. NAMB is seeking to ban the sale of
mortgage-related trigger leads by urging Congress to add appropriate legislative language to Bills
HR4028 and S1982 (also known as the PROTECT Act of 2017, Congressional legislative action relating
to the recent credit bureau data leak of over 143 million Americans).
The National Association of Mortgage Brokers, an association that represents the interests of individual mortgage loan originators and small to mid-size mortgage businesses, announced it is seeking to ban the sale of trigger leads.
NAMB said it is urging Congress to add legislative language for banning the practice to bills H.R. 4028 and S. 1982, or the PROTECT Act of 2017, which is the proposed congressional legislative action following Equifax’s data breach that exposed the personal information of more than 143 million Americans to hackers.
The association explained mortgage trigger leads are created and sold by the national credit bureaus: Experian, TransUnion and Equifax. The leads are comprised of names, contact information and other data, including a significant amount of personal information, for those who recently applied for a mortgage.
H.R. 4028 and S. 1982, or the PROTECT Act of 2017
They go on to say:
Currently, NAMB explained mortgage brokers are unable to prevent credit reporting agencies from including their borrowers’ personal information on the trigger lead lists the credit bureaus sell.
……….but as I said above you can go to the #root of those providing the info. The Four Credit Bureaus #equifax #experian #transunion #cbcinnovis
They #cite two other issues
“Trigger leads impose danger to consumers in several ways,” Stevens said. “First, they expose borrowers to identity theft and increase the risk of compromising borrowers’ financial passwords.” #danger #borrowers #idtheft #identitytheft #compromising #passwords #financial
DECEPTIVE MORTGAGE ORIGINATORS
“They also increase the borrower’s exposure to potentially unfair and deceptive activity by unscrupulous mortgage originators looking to impinge on another mortgage professional’s client,” he said. #unscrupulous #mortgageoriginators #impinge #client
They go on to say:
NAMB claimed that contacting consumers for the express purpose of encroaching on an in-process transaction can be harmful and confusing during the mortgage process.
..Wow this is sooooooooooo the truth. The collector, as soon as they see the #mtgli #MTGLI Mortgage denied or #MTGLN approved, ……… they write in the notes #BALANCEINFULL BIF …………. #nosettlement
Encroaching on, as you said, an ALREADY PROCEEDING FINANCIAL TRANSACTION. Wow. I’ll tell you what
If their #credit hasn’t been pulled in six month they will pull it if they can
Another #inquiry at the hands of #thirdpartydebtcollectors
This really pisses me off
If I can help at all with information to get this abolished I will.
See my Twitter also