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February 02, 2013

Equifax is selling your private employment info - including how much you make!

Think your income is a secret?  Think again!  Equifax, one of the big three national credit bureaus, has accumulated a database of over 190 million employment and salary records (including income) and is in the business of selling it without the consent of the consumers to which the information relates.

Equifax calls this database the "Work Number" database, which is comprised of what many until now considered private information.  The Work Number database contains week to week pay stub information dating back years.  It also contains information about whether a consumer ever filed an unemployment claim, information about their health care providers and whether the consumer has dental insurance.

How does Equifax obtain this information?  Directly from thousands of U.S. businesses, who actually pay Equifax to accept the private information of their employees.  These businesses should be ashamed of themselves for disclosing this private information of their employees.  The businesses involved in this nefarious scheme include many of the Fortune 500.  Some even allow Equifax direct access to their data so Equifax always has the most up to date information.

Equifax sells your personal income data to various types of buyers, including debt collectors and student loan issuers.  Doing so enhances the debt collectors ability to coerce consumers into paying.

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