Unwanted Credit Solicitations

Why am I receiving credit or insurance offers after applying for a loan?

If you recently applied for a loan with Ladysmith Federal, you may notice an increase in unsolicited credit or insurance offers from other companies. We understand this can be frustrating, confusing, and unexpected, especially when you are already working through an important loan decision.

This may happen because of a practice allowed under the Fair Credit Reporting Act called pre-screening. Pre-screening allows creditors and insurance companies to use limited information from consumer credit reporting agencies, such as TransUnion, Equifax, and Experian, to make offers of credit or insurance when a consumer meets certain criteria.

In some cases, when your credit report is ordered as part of a loan application, other companies may receive information that allows them to send you offers. These are sometimes referred to as pre-screened offers or trigger leads.

Ladysmith Federal Does Not Sell Your Information

Ladysmith Federal does not engage in pre-screening, and we do not sell or share your personal information with outside companies for these types of solicitations.

If you receive unsolicited credit or insurance offers after applying for a loan, they did not come from Ladysmith Federal sharing your information outside of the normal underwriting and loan servicing process. We value your privacy and want you to understand why these offers may happen and what you can do to reduce them.

How to Opt Out of Pre-Screened Offers

The Fair Credit Reporting Act gives consumers the right to opt out of pre-screened credit and insurance offers.

You can opt out of pre-screened offers for 5 years (or permanently) on the web by clicking here or by phone: 1-888-5-OPT-OUT (1-888-567-8688).

This opts you out of the 3 national credit bureaus: TransUnion, Equifax, and Experian.

Please keep in mind that the opt-out process may take up to five business days. If your credit report has already been pulled, it may not stop solicitations immediately.

Add Your Number to the National Do Not Call List

You can also add your phone number to the Do Not Call List on the web by clicking here or by phone: 1-888-382-1222.

This can help reduce unwanted sales calls. Companies using trigger leads are expected to check against the National Do Not Call List before making solicitation calls.

How to File a Complaint

If you believe your information has been misused, or if you continue receiving unwanted or concerning solicitations, you may file a complaint with the appropriate agency.

Consumer Financial Protection Bureau
855-411-CFPB or 855-411-2372

Federal Trade Commission
877-FTC-HELP or 877-382-4357