Security freeze is now available
I meant to remind everyone of this last week, but I figure better late than never... Marylanders now have a new tool to stop identity theft. Thanks to a new state law that went into effect on New Year's Day, consumers here now have the ability to put a security freeze on your credit reports to stop thieves from opening fraudulent new accounts in your name.
By placing a freeze on your reports, it prevents a credit reporting bureau from releasing information about your credit history. If a creditor can't check your credit history, it's unlikely they'd extend new credit to you or anyone else trying to open accounts in your name. The freeze lessens your chances of becoming a victim.
As my colleague Eileen wrote on Dec. 9, "Marylanders can't be charged more than $5 to freeze a report or to have a freeze lifted. That is half the amount that credit bureaus are charging residents in most other states."
And victims of identity theft don't have to pay any fee, no matter where they live.
Do keep in mind that putting a freeze in place will make it harder for you to get instant credit. So if you're shopping for a car or like signing up for new credit cards (a bad habit!) often, you might want to hold off on putting a freeze on your reports. You can lift the freeze, of course, but you'll have to pay each time you ask to lift it.
To request a freeze:
Eileen says that you should send a letter via certified mail to each of the major credit bureaus: TransUnion, Equifax and Experian. Letters generally should include your full name, address, date of birth, Social Security number and proof of current address, such as a copy of a recent utility bill.
Each credit bureau has slightly different rules, so check their Web sites for further instructions.
Eileen says victims of identity theft will need to include a copy of the police report to get a free freeze.
Mail your letters to:
Equifax Security Freeze, P.O. Box 105788, Atlanta, Ga. 30348;
Experian Security Freeze, P.O. Box 9554, Allen, Texas, 75013.
TransUnion, Fraud Victim Assistance Department, P.O. Box 6790, Fullerton, Calif., 92834.
Once a freeze is in place, Eileen says you will receive an identification number to use when removing a freeze.
Anyone request a freeze yet or planning to? Let us know how it goes.
Categories: Consumer protection, Credit reports, How To, Personal finance
Comments
Has anybody else done this? I just put a security freeze on all three accouints and received a letter from Experian today that said...
"In accordance with state legislation and pursuant to your request to have a Security Freeze placed on your Experian Credit Report, we are required to notify you that within the last 30 days, changes to your name, address or Social Security Number have been posted to your file."
When you call the 877 they give to inquire about this, a recording tells you that if you receive one of these letters, you should request a credit report and review it for accuracy or unauthorized changes. Is the this a way of conning consumers who put on a security freeze to order a credit report? Luckily I haven't used my free report from Experian in the past years, so I'll get mine free.
I have a hard time believing some change really took place at exactly the same time I put on the security freeze. I suspiciously suspect that the change that took place WAS the security freeze, and they're just trying to get unsuspecting people to order the report.
Or maybe I'm being too cynical.
Posted by: jane | January 28, 2008 9:12 PM
Follow-up:
I figured out why I got the the letter. My Maryland driver's license contains my full name including my middle name. From an old credit report from Experian, I can see that the name on my account was my first name, middle initial, last name which is what I use on all official documentation.
Since they saw my middle name on my driver's license, they added it to my account and thus changed my name. Because of the security freeze, they sent me a letter to notify me of the change with an eventual recommendation to order a credit report. Of course they could explained that in the letter, but then you wouldn't want/need to get a copy of your credit report.
I'm still suspicioius as to their motives.
Posted by: Jane | January 29, 2008 5:53 PM
I just today received the same letter from Experian which scared the heck out of me. I put the freeze in about a year ago and heard nothing until today. I tried calling 877-222-0011 and the messages on that number convinced me to go to the experian website. I entered my ssn and birthdate and a message came up that said we cannot give your credit report online but to write to us for it no fees were mentioned. I am not sure if these folks are just as bad as the identitiy theivers. At this time I will do nothing.
Posted by: fred | June 12, 2009 7:54 PM