As an Enrolled Agent my job is to collect the right amount of information on your case from you and from other sources. I need to know what’s going on to be successful against the IRS. One source I commonly utilize is called the LexisNexis Full File Disclosure. Two weeks after requesting one for a client, I’ll get a 200+ page document in the mail.
Knowledge is power, right? However, I often find that a client’s file contains INCORRECT information on them.
This post will talk about the steps needed to correct, freeze and opt-out of the LexisNexis Full File Disclosure program. Are ready to learn about requesting and correcting your public records? (Kinda scary what they have on you, actually)
LexisNexis: Disputes and Type of Consumer Information Included
Those of you that have tried to dispute a public records item (bankruptcy, judegment, tax lien, etc.) on your credit reports are likely all too familiar with the third-party data furnisher, LexisNexis. Some of you may have been denied a bank account, or some type of insurance due to information reported by LexisNexis.
Here I’ll provide information as to what LexisNexis is, the type of information they gather and sell, and how to handle inaccurate or outdated information included on your consumer Full File Disclosure.
LexisNexis is a third-party data furnisher that gathers as much public information on individuals as possible. Much of the data is obtained from various public record sources, as well as credit and insurance companies, and is used to provide risk analysis to entities such as insurance agencies, credit reporting bureaus, employers, and banks.
Information included in a consumer Full File Disclosure
Consumer files contain items such as real estate transaction and ownership data, lien, judgment, and bankruptcy records, professional license information, and historical addresses. This information is then used to create consumer reports about you. A LexisNexis consumer Full File Disclosure includes the following reports:
- Current Carrier Reports: Summarizes historical home and auto coverage information provided by participating insurance companies. It is used to assess current insurance coverage as well as identity gaps in prior underwriting.
- InsurView: Provides attributes using public record data. It is used for insurance underwriting and insurance prescreening.
- RiskView Report: Provides search results from public records, used by lenders to evaluate an applicant’s ability and willingness to repay a debt.
- Bankos Report: Provides search results from national court records regarding bankruptcies, tax liens, judgements. It is used to monitor developments that could affect a current account relationship.
- Life Public Records Disclosure Report: Provides search results from public records. It is used for underwriting life insurance.
- Collections Descisioning Report: Provides search results from public records. It is used to determine a consumer’s ability to pay an outstanding debt.
- Benefits Assessment Report: Provides search results from public records, including property and personal information. It is used by public assistance agencies to evaluate applications for government benefits.
- C.L.U.E. Report for Auto: Summarizes auto insurance loss history provided by participating insurance companies. It is used to assess applications and renewals of auto insurance underwriting.
- C.L.U.E. Report for Property: Summarizes property insurance loss history provided by participating insurance companies. It is used to assess applications and renewals of property insurance underwriting.
- Traffic Violation Search: Provides search results from public records. It is used to asses applications and renewals of insurance underwriting.
Obtaining a copy of your Full File Disclosure
Pursuant to Section 609 of the Fair Credit Reporting Act, FCRA, you have a right to obtain a copy of your Full File Disclosure once every 12 months. You may request a copy be mailed to you by filling out and mailing a request form or simply calling them at 1-888-497-8920 and speaking with a representative – throughout my experience they have all been knowledgeable and polite.
Placing a security freeze on your Full File Disclosure
Security freezes are available, but the right of an individual to place a freeze on their report depends on the laws within their state. Some states allow individuals to freeze at will, for no reason, and for free; others only allow an individual to freeze if a threat of identity theft or fraud exists. If applicable, you may request a security freeze by phone. A pin number required to unfreeze your reports is mailed within 7-10 days of your request.
Opting-Out of LexisNexis
You can opt out of some of Lexis/Nexis products, with limitations. All consumers can opt out of the Lexis/Nexis Marketing database. Per their website:
“Individuals may request to opt-out of having personal information about themselves made available through certain LexisNexis products and services, in accordance with legal requirements or if permitted by LexisNexis policy. Such requests are referred to as “Information Suppressions.”
LexisNexis permits individuals to have certain personal information about themselves suppressed from LexisNexis public records that are available to the general public over the Internet.”
The opt-out policy only applies to personal information that is available through LexisNexis-owned databases. Please note opting-out of LexisNexis databases will not prevent other companies or public record agencies from collecting or disseminating your personal information.
For more information: https://www.lexisnexis.com/en-us/privacy/for-consumers/opt-out-of-lexisnexis.page
To opt out online: https://optout.lexisnexis.com/
Big, Basic Difference Between Opt-Out and Security Freeze
As explained by the representative:
“Opt-Out only suppresses UNVERIFIED public records. Security Freeze suppresses VERIFIED public records.”
LexisNexis Customer Service Rep
Disputing items on your Full File Disclosure
Once you obtain and review your consumer file, you may dispute any items that are inaccurate or outdated. They provide an email address that you may use to submit any questions or concerns you may have about the information included in your file; you may also use this email for disputing information.
Dispute your public records by mail
Alternatively, you may mail your disputes to the address provided. Be sure to include your full name, as well as the Consumer Number and Case Number provided on the top of your Full File Disclosure. You do not need to include your SSN in your dispute if you include your consumer and case numbers when disputing your public records.
So what now?
If you have any experience doing this or recommendations please comment below. If you have any questions, leave your question below. At Authoritax we believe that having control over your personal data is not only a smart thing to do but a right you have. Get started by asserting your rights at LexisNexis.
And while you’re at it… When’s the last time you’ve checked how much is being taken out of your paycheck?
Click here to see how easy it is to make your paycheck withholding more accurate… AKA more money in your pocket each pay period.