Receiving unsolicited loan offers can be both frustrating and intrusive. These calls often originate from "trigger leads," a practice where your information is sold to other lenders after you apply for credit. (centralbank.com) To reduce the risk of such calls, consider the following strategies:
1. What Are Trigger Leads and How Do They Affect Me?
When you apply for a loan, the lender may request your credit report, which includes personal information. Credit bureaus can sell this data to other lenders, resulting in unsolicited loan offers. (centralbank.com)
2. How Can I Opt Out of Unsolicited Loan Offers?
To prevent your information from being sold to other lenders, you can opt out of prescreened credit offers:
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Online: Visit OptOutPrescreen.com to remove your name from marketing lists.
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By Phone: Call 1-888-567-8688 to opt out.
This process is free and can be done for five years or permanently. (legalclarity.org)
3. How Can I Block Unwanted Calls on My Phone?
Utilize built-in features and third-party apps to block or silence unknown callers:
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iPhone: Go to Settings > Phone > Silence Unknown Callers to silence calls from numbers not in your contacts. (techradar.com)
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Android: Enable "Caller ID and Spam Protection" in Settings > Spam and Call Screen to filter spam calls. (security.org)
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Third-Party Apps: Consider apps like RoboKiller, Hiya, or Truecaller, which maintain databases of known spam numbers. (kiplinger.com)
4. What Should I Do If I Receive an Unwanted Loan Call?
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Do Not Engage: Avoid pressing any numbers to "unsubscribe," as this may confirm your number is active. (consumer.ftc.gov)
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Hang Up Immediately: If you answer a suspicious call, hang up without providing any personal information.
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Report the Call: File a complaint with the Federal Trade Commission (FTC) at ReportFraud.ftc.gov to help authorities track and address these scams. (usa.gov)
5. How Can I Protect Myself from Future Unwanted Calls?
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Be Cautious with Personal Information: Limit sharing your personal details online and with unfamiliar entities.
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Regularly Review Your Credit Reports: Monitor your credit reports for any unauthorized activity.
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Stay Informed: Keep abreast of common scam tactics to recognize and avoid them.
By implementing these measures, you can significantly reduce the frequency of unsolicited loan calls and protect your personal information.
Highlights:
- Tired of Unwanted Calls? Here's How to Help Thwart the Robocaller Invasion, Published on Friday, March 06
