Identity theft is a crime we hear more about all the time. Victims can spend months and even years trying to clear their good name and restore their credit after criminals run up thousands and thousands of dollars in bad debt using the victim's identity. That's why last year I authored legislation to make sure seniors and victims of credit fraud could freeze their credit files without being charged the usual $10 fee.
How can a credit freeze protect you? Let's say someone has stolen personal information about you. If you have frozen your files, that criminal could not open a credit card account or Use your personal information to get a loan. Your credit would virtually be "frozen," but you would have the ability to lift the freeze if you needed to do so.
To freeze your credit files, you must write to each of the three following companies:
Equifax Security Freeze, P.O. Box 105748, Atlanta, GA 30348; Experian Security Freeze, P.O. Box 9554, Allen, TX 75013; and Trans Union Security Freeze, P.O. Box 6790, Fullerton, CA, 92834-6790.
You must contact them by certified mail, and if you are a victim of identity theft, you must include a copy of an investigative report or complaint to a law enforcement agency about the, identity theft.
You'll also need to give your full name including middle initial, your address, Social Security number and birth date'. You need to provide proof of your current address, like a utility or phone bill and if you've moved in the past 5 years, you'll also need to give them any addresses where you've lived during the prior 5 years. Include a photocopy of a government ID card, which can be a driver's license or military identification or other state or federal ID. If you are not a senior citizen or identity theft victim, you will need to include the $10 fee payment by check, money order or major credit card.
Five business days from receiving your certified letter, the credit reporting agencies you contacted will place a freeze providing credit reports to potential creditors. (However, before May 1, 2007, it can be extended to 10 business days if the agency is swamped with applicants. Ten business days after receiving your letter requesting a freeze, the reporting agencies will send you a confirmation letter containing a unique PIN or password.
You can have a security freeze lifted for a temporary period of time, again at no charge for victims or those who are at least 65 years old, otherwise there is a $10 charge. To temporarily, lift Jhe freeze, you must again contact the Reporting agencies above, providing proper identification and your PIN or password. You must include the time period you want your credit report to be accessible. Credit bureaus must lift the freeze as requested no later than three business days after receiving your request.
Creditors cannot get your credit score While your file is frozen, but you can order your own report during that time.
Always remember to protect your personal information. Do not give out your social security, bank account numbers or credit card information to anyone calling over the phone or contacting you by email, and always keep your purse or wallet in safe place. And if you receive credit card offers by mail that you do not want, be sure to destroy the offer, or opt out of pre-approved offers by calling 888 5OPTOUT (888-567-8688).
As always if you have a question about a legislative matter, please do not hesitate to contact my office at (405) 521-5567 or by email at bass @ oksenate.gov.
