Plus, you can lift the freeze whenever you want to apply for new credit and then reinstate it when you’re done. One of the main advantages of freezing your credit is that it’s free, making it an affordable solution for protecting your personal information. Tackling this important task should give you extra peace of mind, especially in case of a data breach or if you suspect your personal information has been compromised. When you place a freeze on your credit report, it prevents a fraudster from opening new accounts (or loans) in your name, as creditors cannot access your report. Why Freeze Your Creditįreezing your credit is an effective way to protect yourself from identity theft and credit fraud. In summary, freezing your credit allows you to take control of your credit report, protect yourself against identity theft, and ensure that your sensitive financial information stays secure. You can still use your credit cards and maintain existing loans with frozen credit. ![]() It’s important to note that a credit freeze does not affect your current accounts or directly impact your credit score.Ī credit freeze simply adds an extra layer of security and prevents new accounts from being opened without your consent. This is an easy process that can be done through the credit bureau’s app, website, or by phone. Remember that once your credit is frozen, you’ll need to unfreeze it (temporarily) to apply for new credit or loans. ![]() You can place a freeze with each credit bureau- also known as consumer reporting agencies-online, by phone, or by mail. When you freeze your credit, the credit bureaus (e.g., Equifax, Experian, and TransUnion) lock your credit file, preventing identity thieves from opening new accounts or taking out loans in your name. Special Considerations for Victims of Identity TheftĪ credit freeze is a process that helps you protect your personal information by restricting access to your credit reports.If they do none of these, then get an attorney and threaten or take legal action against them. Therefore, by law, now that they know that the account is controlled by someone who is not you, they are required to either disable the account, block the account from lifting or removing your security freeze or viewing your credit report, or transfer the account to you. ![]() Cite that 1) the account is currently controlled by an identity thief, 2) the account is capable of unfreezing your Equifax credit report, and 3) that the Fair Credit Reporting Act requires that they properly verify one's identity prior to lifting a freeze.Īdditionally, the account can also be used to obtain a copy of your consumer disclosure report, which under the Fair Credit Reporting Act, the credit bureau can only supply if they reasonably believe that it is being requested by the consumer or an authorized representative or the requester has permissible purpose (neither of which apply to the identity thief). If you ask them to transfer the account to you, include in the letter a desired email address, phone number, and temporary password that they may use. In the case of Equifax, you'll probably have to send a letter to them by Certified Priority mail requesting that the account is either shut down or ownership is transferred to you. In the case of Experian, you can call them and request that they "cancel" the account.
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