How to delete your FigureTechnology account

About deleting your FigureTechnology account

Figure Technology is a financial technology company that specializes in leveraging blockchain technology to offer home equity lines of credit (HELOCs), mortgage refinancing, and student loan refinancing. By utilizing the Provenance blockchain, Figure aims to modernize financial transactions by making them faster and more transparent, often providing funding in as little as five days for certain products.

However, users may seek to delete their Figure Technology account for several reasons related to their unique financial focus:

• Privacy concerns regarding the storage of highly sensitive financial documents like tax returns, property deeds, and income statements.
• A desire to remove personal data from blockchain-integrated financial networks if one no longer requires credit services.
• Reducing the attack surface for potential data breaches, given that financial institutions are frequent targets for cybercriminals.

What happens to your data

When you initiate the deletion of your Figure account, the company is required to balance user privacy requests with federal and state financial regulations. While Figure generally deletes active account profiles, they are often legally obligated to retain certain transactional records for audit purposes under banking regulations like the Bank Secrecy Act.

Types of data typically held by Figure include:

• Personal identification information such as Social Security numbers and government-issued IDs.
• Detailed credit reports, debt-to-income calculations, and housing equity assessments.
• Digital records of blockchain-based transactions and provenance-related metadata.
• Correspondence logs and support ticket history.

Upon successful deletion, Figure should remove your profile from their marketing databases and active web portal access. However, ensure you download your own records, such as tax documents or loan statements, before requesting deletion, as you will lose access once the account is closed.

Privacy considerations

Figure Technology handles a significant amount of personally identifiable information (PII) to facilitate lending. Because they operate on a blockchain-based infrastructure, the permanence of ledger entries can present a unique privacy landscape.

• Limit data exposure by requesting the removal of marketing consents even before closing your account.
• Monitor your credit reports after deletion to ensure no fraudulent activity occurs using the data formerly held by the platform.
• Use a secondary email address for financial platforms to keep your primary communication channels isolated from sensitive financial service providers.
• If you suspect your data was part of a third-party breach involving Figure, file a request for a data report to see exactly what information they currently possess.

Frequently Asked Questions

Will deleting my Figure account affect my credit score?

No, deleting your account simply removes your access to the platform and your personal profile. It does not cancel existing loans, and your credit history remains with the credit bureaus independently.

Can I delete my account if I have an active loan with Figure?

Typically, no. Figure requires that all open credit lines, loans, or active HELOCs are fully paid off and closed before they will process a request to delete your user account profile.

Does Figure delete my data from the blockchain?

Figure uses the Provenance blockchain for specific financial operations. While they can deactivate your user account, some records of financial transactions may remain part of the immutable ledger as required by financial law.

How long does it take for Figure to delete my account?

Once a verified request is submitted, Figure usually processes the closure within their standard internal audit timeframe, which can take up to 30 days depending on local regulations.

Will I still receive marketing emails after closing my Figure account?

You should not receive marketing emails after deletion, but you must ensure you explicitly request an 'opt-out' of all promotional communication during your account closure process.