How To Freeze Your Credit Report?
Identity theft, even before its explosion on the World Wide Web has been relatively easy for professional or even amateur conmen
. With relatively basic pieces of personal information, identity thieves can carry out purchases and claims in someone elses name.
Identity Theft Unveiled
There are literally hundreds or maybe thousands of Bonnie and Clyde groups operating in the United Kingdom and the United States at any one time. In the United Kingdom, an infamous husband and wife team once used the identity of 66-year-old university professor to buy luxurious vacations and other large expenses.
Near the end of the crime spree of the modern Bonnie and Clyde team, the police were ready to pounce on the victim and not the identity thieves. This is a classic case of how an innocent victim can fall prey to criminals that dont even have to see the victim in order to commit the near-perfect crime.
Freezing the Report
There are three main credit bureaus that handle credit reports. You have Experian, Equifax and Transunion. First of all, why would you want a credit freeze? If you think your personal information has been exposed to undesirables (through the Internet or if youve lost a wallet full of identification cards and identification numbers), having your credit report frozen is a good idea.
Determine first the basic requirements of having a credit freeze in your locality. Afterward, contact all the bureaus and have your report frozen. If youre not normally entitled to discounts (unlike senior citizens), you would probably have to pay a small fee for the freeze.
However, the small fee would be nothing compared to the potential headaches you might have if someone starts using your accounts for buying things you dont want.
Sending the Request
After fulfilling the requirements of a credit freeze, send the request to the three bureaus. It is recommended that you call the bureaus to check whether youre in the green for sending the request. Equifax is in Georgia, while Experian and TransUnion are in Texas and California respectively.
Remember, you have to freeze your credit report in all the bureaus. If you dont the activity would be pointless. What does a credit freeze do? It blocks anyone from checking your credit history for a year or so. If youre a senior citizen and youre comfortable with using cash for most of your expenses, you can have your credit frozen as a practical security measure.
The Freeze
The credit freeze would be carried out once the agencies receive the documents required. They would inform you whether the process has been carried out. Remember, you have to keep all legal documents sent as official communication to you by the bureaus. Make sure that you dont lose them.
If you do lose them, you would be having trouble using your credit line once again. Though its not impossible to re-apply after you lost the documents, it make take a while to finish the process required for verifying whether you really are the person who ordered the freeze in the first place.
by: frenn
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