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How to Stop Unwanted Solicitations
The MMI Online Articles are designed to inform, assist, educate and alert consumers.
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If you are creditworthy, the competition for your interest rate dollars is fierce. In 2002, an estimated 4.89 billion credit card solicitations were mailed in the U.S. – approximately 17 for every resident – advertising low introductory rates and bonuses for making purchases. If you are tired of all that mail or just plain confused by all of your options, you aren’t alone. Cardweb.com reports that Americans are getting burned out on credit card solicitations as only one out of 200 pieces of card mail produces a credit card application. Fortunately, you have the ability to greatly reduce the number of credit card and loan solicitations you receive.
To “opt out” of many mail solicitations, visit the Direct Marketing Association’s website at www.e-mps.org. The Direct Marketing Association also has a service to help you reduce unsolicited commercial emails. To “opt-out” of receiving unsolicited commercial email, visit www.dmaconsumers.org/offemaillist.html. Your online request will be effective for one year. For more information on how to stop unsolicited email spam, review your state’s laws at www.spamlaws.com.
In addition to the Direct Marketing Association, the three credit bureaus also sell lists to marketers. To opt out of their lists, send a letter to each of the three major credit bureaus:
Even if you are not being harassed by a collector, their collection calls can cause a lot of stress. Fortunately, there is an easy way to make them stop. Simply write to them demanding they not contact you anymore. The FDCPA states:
Equifax, Inc.
Options
PO Box 740123
Atlanta, GA 30374-0123
Experian
Consumer Opt-Out
701 Experian Parkway
Allen, TX 75013
TransUnion
Name Removal Option
P.O. Box 505
Woodlyn, PA 19094
To empower consumers to stop most unwanted telemarketing calls, the Federal Trade Commission adopted a series of amendments to the Telemarketing Sales Rule (TSR) including the development of a national "Do Not Call" Registry. To subscribe to the national Do Not Call Registry, visit www.ftc.gov/donotcall/.
Even if you contact all of the above organizations, it is likely you will still receive some unwanted solicitations. If a telemarketer calls, ask them to put you on their “do not call” list. Under federal law, they are required to comply. If they continue to call you can sue them in small claims court for $500. Don’t forget to destroy unwanted credit applications you receive by mail. Stolen mail could lead to the opening of a new account in your name; one of the more serious and most costly types of identity theft.
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