Consumer Fraud Fraud alert received by Mortgage Company

[ConnieCarroll]

We received a letter from our Mortgage company (Countrywide) that stated our information may have been sold to a third party. Are companies responsible and can they be held liable for identity theft of customers?

 

[presutin]

You mean information such as name, address and phone number? That is common practice for business and nothing illegal with that. Your credit card company, your bank, and other business that you shop at do that all the time. If you don't want them sharing that information, you need to send them an opt-out letter saying no sharing.

 

[irish223]

I think Connie is referring to this:

http://www.myfoxtwincities.com/myfo...n=3&locale=EN-US&layoutCode=TSTY&pageId=1.1.1

I don't know if the mortgage company would be responsible for any losses if you become a victim of identity theft, but the article offers some safeguards that you can follow to prevent it.

 

[presutin]

Thanks Irish - It is about the security breach. I fell victim to it with DSW two years ago and the best I could do was monitor my credit reports and put a credit freeze. No, they are not responsible as far as if anything happens and that is because of all the lovely loopholes in our legal system...

 

[irish223]

Sorry to hear that presutin (and Connie).

Identity theft is so scary. No matter how careful we are, our information is only as secure as the people we have to trust with it. I wish there was a solution.