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Did you know that credit bureaus take the same addresses and contact information you submit on credit applications, and sell it to collection agencies for a fee..?
That's why you will very often see a surge in collection calls and letters immediately following an application for credit..!
Ever noticed that alot of the collection letters you get after such an application often contain text in the order of:
"You may have been (or will be) denied credit because of items on your credit report." ?????
THAT'S WHY!!!!!
Wow I had no idea thanks for the info. I guess if I'm ever in that situation again and hope not. I will tell them when they call she moved and give them one of the credit agencies numbers to call.
Wow DOC, I am thinking back and you are right (as usual). I have usually received collection letters after being approved or applying for credit. How is this fair that the credit bureaus can do this? I have heard thing s like collectors putting "ticklers" on your report and as soon as something came up, any activity on your report, then they were notified. I never knew it was the bureaus themselves that did this. I myself can not wait until all my debts (two) are so old no one will bother me again. One has fallen off and one about ready two..and oh yeah..the one I have no idea about..that makes three.
Is there anyway that you can stop this? Isn't this a violation of ones privacy? Has anyone tried filing a complaint on this practice or filing a lawsuit against the credit reporting agencies for violation of privacy.
Think about it, your doctor can't discuss your condition with your spouse with out your consent. Your employer can only state how long you work there. How the heck can a credit reporting agency legally give your information away for a fee?
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I was thinking the same thing, GN. Our information is being sold without our permission......that's pretty scary!!
I totally agree. It is not like a person can just chose not to be part of the credit bureaus. If you have any type of credit it AUTOMATICALLY gets reported to the three bureaus. This is informaiton we can not stop. How is it fair they can then turn around and use it against us or profit by selling it off.
I don't think that they should be allowed to release your information with out your permission.
If you think about it, I remember a time when I used to get all types of credit card offers in the mail, they were targeting people with a certain score, they would get this information from the credit reporting agency and then do a mass mail of offers out to everyone on that list.
Bunch of crap, should have not been able to violate anyones privacy like that.
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There is no one we can contact about this? State Rep, etc? GN...you said something I didn't know. ..that companies 'target' people with certain credit scores.
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Yes, they can go on your credit reoprt. The best thing to do is to work out a payment plan directly with the doctors. As long as it is between you and the doctor, it won't hit your credit reoprt. If they turn the account over to a collections agency, it becomes an issue on your credit.It costs the doctor/hospital money to send something to collections so they may be willing to work with you on a repayment plan or reduction of your bill. Some money is better than no money in these cases. While the doctor is running a business and deserves to be paid for services rendered, everyone understands what is going on with the economy. Approaching the doctor and asking to work out a repayment plan will work a lot better than making them come after you for the money.Good luck.