| If you are worried about identity theft one | | | | bureau has a different set of procedures to |
| effective way of protecting yourself against | | | | follow so it's best to get in contact with |
| identity theft is to opt for a credit freeze. | | | | them first. Generally however, you're |
| When you freeze your credit, no one can open | | | | required to send identifying information by |
| new credit in your name and access your | | | | certified mail along with payment for the |
| credit reports until the freeze is lifted. | | | | credit freeze service. If you are a victim of |
| | | | identity theft, include a copy of the police |
| A credit freeze will stop potential identity | | | | report or complaint filed with a law |
| thieves from obtaining credit in your name | | | | enforcement agency. |
| since lenders aren't able to verify your | | | | |
| credit worthiness. A criminal may have all | | | | The credit bureau will freeze your credit |
| your valuable information like your social | | | | within 5 business days of receiving your |
| security number, even your account numbers | | | | credit freeze request. Placing a credit |
| and they still cannot apply for and get | | | | freeze will cost around $10 per bureau unless |
| approved for additional credit in your name | | | | you have been a victim of identity theft, in |
| since a credit freeze locks access to your | | | | which case you don't have to pay. |
| credit report. | | | | |
| | | | When you place a credit freeze, the three |
| Although it does protect you against identity | | | | bureaus will issue a PIN number that can be |
| theft, placing a credit freeze also means | | | | used to lift the credit freeze. Just log in |
| that your credit file cannot be seen by | | | | to the credit bureau websites and enter your |
| potential lenders, insurers and potential | | | | PIN number or provide your PIN to a potential |
| employers doing background checks, unless you | | | | lender if you are applying for credit. |
| give your consent. As a result, most | | | | Lifting the freeze temporarily will cost you |
| companies will not allow you to open accounts | | | | another $10 per bureau, even if you are an |
| since they can't check your credit. | | | | identity theft victim. However, permanently |
| | | | lifting a credit freeze is free of charge. |
| While potential creditors cannot view your | | | | Note that the credit bureau will lift the |
| credit, your current creditors will still | | | | freeze within 3 business days after receiving |
| have access to review your account or for | | | | your request. |
| collection purposes. You can also still order | | | | |
| your own credit report even after the credit | | | | In protecting yourself against identity |
| freeze, so you can verify that there is no | | | | theft, it's good to be aware of all options |
| identity theft going on. | | | | available so you can better decide which one |
| | | | would work best for you. Certainly, credit |
| To freeze your credit, you have to send a | | | | freeze is one of the best options to consider |
| letter to each of the credit bureaus namely | | | | when you want to prevent identity theft. |
| Experian, Equifax and TransUnion. Each credit | | | | |