You can now prevent unauthorized access to your consumer credit reports. This is one way to limit the fraudulent activities resulting from identity theft.
Security Freeze
Indiana passed a law on September 1, 2007, that would allow any consumer in Indiana to place a “security freeze” on his or her credit report. A security freeze prevents a credit reporting agency from releasing your credit report information without your consent. Without access to your credit report, financial institutions will not approve a loan and credit card companies will not issue a credit card to someone posing as you. This can help to prevent the damage that can be created by an identity thief who has other personal identifying information, such as your Social Security number.
If you choose to request a security freeze, be aware that it may slow down or delay certain personal or business transactions due to the time required to give legitimate access to your reports. Credit reports are always checked when you apply for a loan or credit card, rent an apartment, purchase a cellular phone, sign up for utilities, or even apply for employment. So if you have placed a security freeze, you will need to plan ahead to have the freeze removed when credit report access is needed to transact your business.
A security freeze will generally not apply to creditors who have an existing relationship with you requiring periodic review of your credit report.
How To Place and Remove a Security Freeze
To place a security freeze, you will need to mail your request to each of the three credit reporting agencies (Equifax, Experian, and Trans Union). Beginning after January 1, 2009, each of the agencies is required to provide a secure electronic mail connection. In your request, you will need to provide the following information:
- Full name, address, Social Security number and date of birth.
- If you have moved in the last five years, provide all mailing addresses used during the five year period.
- Send proof of your current address, such as a current utility bill or property tax bill.
- Send a photocopy of a government issued identification card, such as a driver’s license, state ID card, or military papers.
You should expect the credit reporting agency to initiate the freeze five business days after receiving your letter. Within ten business days of placing the freeze, each of the agencies will send to you a confirmation letter. In the letter, you will receive a unique PIN (personal identification number) or password that you will be required to use to temporarily or permanently remove the freeze.
You will need to request the freeze be removed to allow you to conduct any business requiring a credit report. Before 2009, the credit reporting agency has three business days to process your request to lift the freeze. However, after January 1, 2009, the agencies will be required to remove the freeze within fifteen minutes.
You can contact each of the credit reporting agencies by phone, fax, or Internet to remove the freeze either temporarily or permanently. You must provide the following information: sufficient identification to verify your identity, your PIN or password, and the time period that you want your credit report to be available to all requestors or the specific name of a creditor(s) who should have access.
For Indiana residents, there is no fee charged by the credit reporting agencies to place, temporarily remove, or permanently remove the freeze.
Summary
Identity theft continues to be a concern for all consumers. You should take action now to protect your credit information. Denying unauthorized access to your credit reports is one way to curtail the activities of identity thieves as well as the resulting financial damage that you can suffer.Equifax Security Freeze
P.O. Box 105788Atlanta, GA 30348
Place a Security Freeze Online with Equifax
Experian Security Freeze
P.O. Box 9554
Allen, TX 75013
Place a Security Freeze Online with Experian
TransUnion LLC Security Freeze
P.O. Box 2000
Chester, PA 19022-2000
Place a Security Freeze Online with Trans Union
