What is LexisNexis – Everything You Need To Know
Your personal details have been stored even before the internet was created. Do you know that some information you may not be able to recall has been saved by these consumer reporting agencies? One large company is LexisNexis and this may be your first time hearing about them. Consumers often wonder if LexisNexis is legit and where they collect data from.
You may be shocked to know the amount of your personal information that is available to the public and agencies. So today, I will be revealing everything you need to know about this company and how it affects you.
What is LexisNexis?
They operate as a credit reporting agency, yet they don’t offer data directly to consumers. Instead, they collect and supply information to various sectors in a somewhat secret manner. LexisNexis is often referred to as a a data scraping or data broker company.
A simple lexisnexis search will show that they collaborate with numerous industries like government, insurance, financial services, law enforcement, healthcare, debt collection, public safety, credit reporting agencies and many more. LexisNexis and its Risk Solutions product assist businesses in making well-informed choices when dealing with new customers. With lexisnexis identity verification process your information is available with a click of a button.
What they do is that they provide your detailed personal history to entities such as financial institutions, consumer reporting agencies, insurance companies, government agencies, healthcare providers, and nonprofits. These organizations then use this information to decide whether to work with you or not.
As you begin establishing credit, all of your data is collected and stored by similar data brokers.
But how does LexisNexis uniquely identify you? They do that with the help of what they refer to as LexID.
What is a LexID?
LexisNexis employs a unique identifier called LexID, which links all data related to you, whether positive or negative. This data includes information from records like marriage and divorce documents, pilot licenses, firearms licenses, and more. With the LexID, LexisNexis keeps track of this data no matter where you are.
Additionally, LexisNexis can access a wide range of records that aren’t typically available on credit reports, making it unique. These include addresses, phone numbers, criminal records, mortgage details, bankruptcy filings, speeding tickets, military service, and eviction notices.
This comprehensive data also extends to your business. The information in your LexID can influence critical business decisions, such as purchasing and insuring company vehicles, securing a business line of credit, or any other vital business operations.
Now that you know just how much LexisNexis knows about you, you may be wondering if you can opt out of this unsolicited service.
Can you opt out of LexisNexis?
The short answer is – yes. But there are stipulations to consider.
Removing your details might prevent you from working with certain companies that depend on LexisNexis reports. Also, be aware that only some of your information will be removed from their system, not all of it. So, keep this in mind as you weigh the decision to have your information removed.
Who can opt out of LexisNexis?
LexisNexis holds your records with or without your permission. However, you can opt out under certain conditions. If you are a law enforcement or public official, you can opt out with a letter from your supervisor indicating that your role puts you at risk of death or serious physical harm. If you are a victim of identity theft, you can opt out by providing a police report.
Additionally, if you are at risk of physical harm but not in law enforcement, you can opt out by submitting a police report, a court protective order, or similar documentation such as a letter from a healthcare professional or a shelter administrator.
As you can see removing your info from LexisNexis is no easy task! If you are eligible to opt out and stop LexisNexis from sharing your consumer data, the LexisNexis opt out page will allow you to do so online.
If I can’t opt out, what options do I have?
Understandably, the idea of a company that scrapes personal data (thats not always correct) is scary! Have you ever done a search online of yourself and found your address, previous address and relatives publicly online or being sold? The info online is alarming and often removes all personal privacy. Additionally, this data thats publicly available opens the doors to identify theft, spam and more!
If you are not able to suppress your LexisNexis data from being shared, you can add a security freeze to your account. By adding a security freeze, it prevents them from sharing your personal consumer report without your express authorization. However, collection agencies or companies acting on their behalf can still access your data.
More info on placing a security free can be found on LexisNexis website.
How can I see my LexisNexis Report?
The Fair Credit Reporting Act states you have the right to know whats in your LexisNexis report and the right to dispute inaccurate data. You can request a copy of your report online here.
Having mentioned that, is LexisNexis legit?
LexisNexis is not all woes and foes. While we personally believe consumers do not benefit from the data broker, others may. Businesses actually benefit from the information this company provides. Here’s how:
How LexisNexis Can Help Your Business
If you own a business, LexisNexis offers a service where you can pay to access detailed information, which is particularly useful for improving the efficiency of converting sales leads.
This service provides complete and accurate contact information, reducing the time spent verifying details and enabling quicker follow-ups.
That way, your business can prioritize valuable leads over less promising ones.
Additionally, LexisNexis aids in fraud detection and prevention, enhances collection efforts, and provides account monitoring for changes in personal and business-related details.
They also supply comprehensive data on businesses, including connections to individuals and other entities, which is valuable for understanding business relationships and classifications.
In conclusion, LexisNexis is a legit company. While they provide personal identifying information as long as the data is in accordance with the FCRA, its legal.
