Identity Theft

[LuvOrlando]

Anyone out there have any experience with private identity theft monitoring and such?

 

[kdonnel]

As a prior victim of identity theft, the most effective way to prevent identity theft is to have your credit frozen and a fraud alert placed.

You can do all that yourself without paying a service.

 

[LuvOrlando]

I'm hoping for a service that digs a bit deeper than just credit cards but I'm unfamiliar.

 

[kdonnel]

I'm hoping for a service that digs a bit deeper than just credit cards but I'm unfamiliar.

So many things other than credit cards ultimately use the credit report for identity verification, so having your credit report frozen stops the vast majority of common identity theft.

For example if your credit is frozen, no one would be able to open utility accounts or cell phone accounts in your name.

In my case they would have been unable to open the bank account or get the merchant account opened if my credit had been frozen.

The main protection mechanism used by the paid for services is frozen credit with a fraud alert added.

 

[HannaBelle]

kdonnel, what is the process to "un-freeze" your credit to open an account if needed?

 

[kdonnel]

kdonnel, what is the process to "un-freeze" your credit to open an account if needed?

The process to freeze or unfreeze varies slightly from bureau to bureau.

Generally you have created an account with them and there is a web page to initiate the unfreeze. Some just have you login to your account, others you have a long pin assigned at freeze time that needs to be entered to unfreeze. Sometimes you may be asked verification questions based on your credit report to complete the change which can be difficult. It might ask what your mortgage payment was 20 years ago and give you multiple choice options to pick from like A) 1000-1004, B) 1005-1009, C) 1010-1014, D) None of the above. You have to really remember what the mortgage payment was to answer correctly as the ranges are so small. You can also specify a period of time the credit remains unfrozen so that it automatically refreezes.

Worst case they assume it is someone else trying to access your credit and require you to submit the request in writing.

It has not really stopped me from opening any accounts I have wanted. In the 7 or so years my credit has been frozen I have not had any issues that prevented me from opening accounts, though I will say it was more difficult.

freeze/unfreeze is free by federal law.

The credit bureaus have created the concept of locked credit. They make locking and unlocking your credit extremely easy but charge for the service.

The hardest part is knowing which one of the three to unfreeze. Places have gotten better about knowing what credit bureau they use and can often tell you which one to unfreeze before they try. If they can't you have to unfreeze all three or let them try and then it will often tell them which bureau was used.

 

[ambgoph]

In addition to placing a security freeze with the three credit bureaus, you will want to place a security freeze with ChexSystems. Banks use Chex when opening accounts.

https://www.chexsystems.com/web/che...o8kkL9swEAJSY_0Y!/dz/d5/L2dBISEvZ0FBIS9nQSEh/
More about ChexSystems
https://www.forbes.com/advisor/banking/chexsystems-everything-you-need-to-know/

 

[princesscinderella]

We have all our credit frozen too, after someone tried to open cell phone accounts through sprint. Its pretty easy to unfreeze and what’s nice is you can set it when you are unfreezing it to refreeze it on a certain date so you don’t have to remember to freeze it again.

 

[fla4fun]

Do you belong to AAA? They offer a complimentary service to members.

I have a few different ones monitoring me, and two send monthly reports of any activity, including my own legitimate activity, for my review. I do think having the ability to quickly freeze credit is good, and I want to be notified immediately when any activity occurs. The sooner you are aware of an issue the sooner you can shut it down.

 

[Masterbetatesta]

creditkarma is free and ive been using it for years.

 

[kdonnel]

The sooner you are aware of an issue the sooner you can shut it down.

That is the problem with most if not all credit monitoring services. By the time your are notified, it is too late, your identity has already been used and clean up is required. That clean up can be a pain!

In my case I had to get the Georgia Secretary of State involved who referred me to the Georgia Office of Attorney General who had to sue the State of Georgia on my behalf so that it was on record that I was not associated with the corporation that had been registered in my name.

It is likely that if your credit is frozen, the criminals will not succeed and will move on to using someone else's identity that does not have their credit frozen.

You will never know someone tried to use your identity and there is no clean up needed.

 

[Planogirl]

You can set up both freezes and credit monitoring at no charge. Many people have both.

Freezes are good at keeping potential new creditors from being able to see your credit reports unless you first unfreeze the reports. You do so with a previously set up PIN number most easily. Each bureau has to be handled separately.

Free credit monitoring and reports can be set up through Credit Karma for Equifax and Trans Union and through Freecreditreport.com for Experian. Monitoring is good because it lets you know about changes and does not only block inquiries.

 

[pasednev]

Credit freezes help prevent unauthorized access to your credit reports, which can stop identity thieves from opening new accounts in your name. However, you’ll need to unfreeze your reports if you apply for credit, and each credit bureau (Equifax, Experian, and TransUnion) needs to be handled separately with its own PIN.

 

[cvjw]

My credit has been frozen for years. We have credit monitoring, which is how I found out that someone had opened up a credit card in my name to purchase iPhones in New Jersey. They helped guide me on getting that whole issue resolved.

I got a letter from a bank a few years ago telling me to unfreeze my credit so my new credit card could be activated. Someone had tried to steal my identity again. Needless to say I did not unfreeze my credit.

 

[cvjw]

are you using credit monitoring?

Yes. Have been for many years. That is how I knew someone had stolen my identity the first time.

 

[disneyseniors]

Wow, thanks to everyone for posting on this subject.
I have never thought about freezing credit reports. I have had identity theft twice, but it was cleared up quickly with a phone call to the involved business.
This makes me think I should set up an account to freeze my credit reports.

 

[ambgoph]

Wow, thanks to everyone for posting on this subject.
I have never thought about freezing credit reports. I have had identity theft twice, but it was cleared up quickly with a phone call to the involved business.
This makes me think I should set up an account to freeze my credit reports.

You need to set up an account with each bureau. Make sure you do a freeze, not a lock. Here are the direct links:

Experian
Equifax
TransUnion

 

[disneyseniors]

You need to set up an account with each bureau. Make sure you do a freeze, not a lock. Here are the direct links:

Experian
Equifax
TransUnion

Thank you so much for this I will definitely do it!