Equifax Offers Lifetime Free Credit Locks in a Bid to Save Face

  • Equifax Offers Lifetime Free Credit Locks in a Bid to Save Face

Equifax Offers Lifetime Free Credit Locks in a Bid to Save Face

According to the Office of the Attorney General, over 3.8 million Hoosiers were affected by the recent Equifax security breach. Preventing fraud is a delicate balancing act, and the right technology - which looks at a range of data points to make an accurate prediction about what is and isn't fraudulent - can help you strike the right balance.

From there, it's on to corrective action. If you apply for new credit, however, then you'll have to unfreeze your credit reports.

As a precaution, the widespread advice from financial advisers is to request a freeze of your credit from each of the three big credit reporting agencies: TransUnion, Experian and Equifax.

A credit freeze, under an agreement between the credit bureaus and states, should cost just a one time fee of $5 to $10 (and it should be free for ID theft victims).

Equifax said it plans to address issues with their call centers and websites as well, with Barros writing that more experienced agents will be added to call centers and website security will be upgraded. Unusual EOBs will require follow-up with the insurer that issued the EOB (whether or not it's your insurer). You will need your latest paycheck stub (as well as your spouse's, if filing jointly) and a copy of last year's return. Or, if you are Equifax CEO Richard Smith-who had the misfortune of answering "yes" to every single one of those questions, and was going to have to answer many more uncomfortable questions posed by the likes of Elizabeth Warren in just a couple of days-you retire. Scammers who get ahold of the data could use it at any time - and with 143 million to choose from, they may be patient.

In all those cases, your first stop is the IRS.

"The U.S. population is about 323 million".

So, yea, like John Stumpf before you, you had to go, Dick. These are all pieces of information that could be used to create fake identity documents, like driver's licenses or passports. "You can't say never, but I would say it's very uncommon to see a situation where a pension was clawed back".

Find out if your information was exposed. Check with your insurance company for details on any rate increases and how to correct any false information. I mean, consumer advocates have complained about the credit reporting agencies for years.

"Your company profits from collecting highly sensitive personal information from American consumers - it should take seriously its responsibility to keep data safe and to inform consumers when its protections fail", wrote the Representatives.

If you are frustrated in your attempt to set up a freeze, try Google, as opposed to starting at credit bureau websites. Faster notification would have allowed consumers to take steps more promptly to make it less likely that their identities would be misused, the city alleges. If you can, automate the payments to the new card to take full advantage of your 0 percent rate until your debt is retired. So there will probably be even more to come on that front. With quick action, you can limit the damage.

The CEO, Todd Davis, tried to spin the fiasco as proof that the service worked, since many more ID theft attempts were tried and thwarted. The cyber-attack potentially puts millions of people at risk for identity theft.