Consumers can get several types of personal data reports
"Most consumers know they can get a free annual copy of their credit report – and they should. Many don’t know that they’re also entitled to free access to other personal records that companies keep on them.
A little known federal regulation gives all consumers some important rights to personal information. Companies keep all kinds of databases about customers and credit card holders.
"Consumers have the right to see information that's collected by companies when they sell it to companies to make decisions about them,” said Peggy Twohig, a spokeswoman for the Federal Trade Commission.
This data falls into a category sometimes called "specialty reports" or "other consumer reports." It's something like credit bureau data but it tracks other information, such as medical records, bankruptcy filings, driving records, criminal or civil case records, insurance information and banking information.
Twohig says data like that is used to make all kinds of business decisions about you.
"Insurance companies want to know, for example, if you have filed claims in the past. And that insurance company might use that to make a decision on whether to grant you insurance and what price to charge you for the insurance,” she said.
The problem is, information gathered on you can often be incorrect. Last year, the consumer group U.S. PIRG found errors in four out of five credit reports.
Others find errors also. Sherrie McGregor found $91,000 worth of errors on her credit report. Tabitha Jackson’s credit report contained phantom accounts and non-existent collection agency actions. That’s why incorrect “Specialty Consumer Report” information needs to be checked."
Read more from KYTV Springfield, MO
A little known federal regulation gives all consumers some important rights to personal information. Companies keep all kinds of databases about customers and credit card holders.
"Consumers have the right to see information that's collected by companies when they sell it to companies to make decisions about them,” said Peggy Twohig, a spokeswoman for the Federal Trade Commission.
This data falls into a category sometimes called "specialty reports" or "other consumer reports." It's something like credit bureau data but it tracks other information, such as medical records, bankruptcy filings, driving records, criminal or civil case records, insurance information and banking information.
Twohig says data like that is used to make all kinds of business decisions about you.
"Insurance companies want to know, for example, if you have filed claims in the past. And that insurance company might use that to make a decision on whether to grant you insurance and what price to charge you for the insurance,” she said.
The problem is, information gathered on you can often be incorrect. Last year, the consumer group U.S. PIRG found errors in four out of five credit reports.
Others find errors also. Sherrie McGregor found $91,000 worth of errors on her credit report. Tabitha Jackson’s credit report contained phantom accounts and non-existent collection agency actions. That’s why incorrect “Specialty Consumer Report” information needs to be checked."
Read more from KYTV Springfield, MO
posted by Dave at 3:02 PM
0 Comments:
Post a Comment
<< Home