As most people are aware, there was a data breach at Equifax, one of the consumer credit reporting agency in the United States, which could potentially impact 143 million US consumers. Anyone with a credit report has a good chance of being one of those consumers whose sensitive information may have been exposed and could lead to identity theft. Even people who never explicitly used Equifax services could be affected as they collect consumer information routinely.
The Federal Trade Commission has put out an advisory on what to do to protect yourself. Please click here to go their website and read the advisory.
Equifax suggests people sign up for their credit file monitoring and identity theft protection service. They are providing a free service for one year through TrustedID Premier, even for people who have not been affected. You can visit https://www.equifaxsecurity2017.com/ to see if you have been impacted and to sign up for TrustedID Premier. Click on Potential Impact, then Check Potential Impact, then input your last name and last six digits of your social security number.
Whether you have been impacted or not, the best option is to freeze your credit file at all four-major credit reporting agency. This will prevent most lenders and potential fraudsters from accessing your credit file. You will have to unfreeze your file if you apply for credit- you can do that by contacting the credit agency that the lender is expected to use to verify your creditworthiness. Some states charge a small fee for freezing and/or unfreezing your credit file. You can use the following numbers and links to initiate the freeze:
- Equifax: 1-800-349-9960
- Experian: 1‑888‑397‑3742
- TransUnion: 1-888-909-8872
- Innovis: 1-800-540-2505
Before freezing your credit file, you should review your credit reports just to make sure that any potential fraudsters haven’t already accessed your credit file. You should also sign up for a monitoring and identity theft protection service such as the one being offered by Equifax above. There are several benefits, including id theft insurance.
Some loans such as payday loans do not use traditional credit check methods and may not show up in your credit reports. You will have to be vigilant and monitor your existing bank accounts, credit cards, other credit accounts as well your emails and snail mail for suspicious activities.
There are some other things you can do to protect yourself:
– Create your online Social Security account—regardless of your age or retirement eligibility—to prevent attackers from doing so first. Visit https://www.ssa.gov/myaccount to get started. If you already have an account, regularly review your statements and be alert for benefits activity you did not initiate.
– Similarly, consider creating an account at the Internal Revenue Service to prevent attackers from filing false tax returns. Visit https://la.www4.irs.gov/e-services/Registration/ to get started.
If you feel you may be a victim of identity theft, visit https://www.identitytheft.gov. This is the federal government’s one-stop resource for identity theft victims. The site provides streamlined checklists and sample letters to guide you through the recovery process.
Identity theft can impact finances and other aspects of one’s life and can lead to needless hassles. I found out that I have been affected and took all steps to protect myself. So should you.