Freeze Your Credit Files
As of November 1, 2007, all three credit bureaus - TransUnion, Experian and Equifax - now allow consumers to freeze their credit reports. A credit freeze offers protection from fraudulent credit issued in your name, such as credit cards, consumer loans and mortgages, for which you could be held responsible. Lenders will not issue credit without first checking your credit report, which they cannot do with a credit freeze in place.
The service provides consumers with another option for safeguarding their credit file against identity thieves. The freeze is free for identity theft victims, and otherwise costs $10 to place, temporarily lift, or remove. Therefore, freezing or "unfreezing" all three of your credit reports will cost you about $30 (or $60 per couple).
The Consumers Union estimates that an average of 27,000 Americans become victims of identity theft each day. Cyveillance, a security firm that crawls the Internet looking for tainted websites, has found more than 1 million stolen Social Security numbers on computer servers controlled by criminals.
The incidence of identity theft is accelerating, and presents a major risk to your financial stability. We estimate that over 50% of our clients have been victimized in some manner, most often by fraudulent charges on a credit card. Please follow our advice for protecting your identity and consider placing a credit freeze.
If you are interested in obtaining more information on how to freeze your credit files, please refer to the California Office of Privacy Protection. You can also email us and we'll send you form letters for requesting a credit freeze.
