It's got nothing to do with other people. When your company goes under, and historically speaking most do, someone will buy your DB. With all your debts, you won't be in a position to refuse. Who will the buyer be? What countries laws will they operate under? Will /they/ be willing to protect my contact data? Or will they sell it to telemarketers for a quick buck?

Sorry, but if you can't find a way to let me wipe my data, even if it takes 6 months while your backups cycle, I'm not interested and never will be.