Harv's Corner 07/08/2024

This is the first of 4 releases I will provide to help you protect yourself against fraud and identity theft. 
FREEZE YOUR CREDIT!

Identity theft is a serious crime that can have a devastating impact on your finances, credit, and reputation. One way to protect yourself is by placing a security freeze on your credit reports. This will prevent thieves from accessing your credit reports and from opening new loans, credit cards, or lines of credit in your name.

Placing a credit freeze (also known as a security freeze) on your credit reports is crucial in protecting yourself from identity theft. It prevents creditors from accessing your credit reports without your explicit permission, making it nearly impossible for anyone to open new accounts in your name. Here's why it's important and how to do it:

Importance of a Credit Freeze:

Prevents Unauthorized New Accounts: 
If a thief tries to open a credit card, loan, or other account in your name, the creditor won't be able to access your credit report, effectively blocking the application.

Offers Peace of Mind: 
Knowing that your credit is frozen gives you a sense of security that your financial information is safeguarded.

Free and Easy: 
Credit freezes are free to place, lift, and remove with all three major credit bureaus (Equifax, Experian, and TransUnion).

Doesn't Affect Existing Accounts: 
A freeze prevents opening new accounts; you can still use your existing credit cards and loans.

Recommended by Experts: 
Many financial and security experts recommend credit freezes as one of the most effective ways to prevent identity theft.

How to Place a Credit Freeze:

Contact Each Credit Bureau: 
You must place a freeze with each of the three major credit bureaus individually. You can do this online, by phone, or by mail. Their contact information is as follows:

Equifax: 1-800-685-1111 or online at https://www.equifax.com/personal/credit-report-services/credit-freeze/

Experian: 1-888-397-3742 or online at https://www.experian.com/freeze/center.html

TransUnion: 1-888-909-8872 or online at https://www.transunion.com/credit-freeze

Provide Required Information: 
To verify your identity, you will need to provide your name, address, Social Security number, and other identifying information.

Receive a PIN or Password: 
Each credit bureau will give you a unique PIN or password. You will need the password when you want to temporarily lift or remove the freeze.

Important Considerations:

Temporarily Lifting a Freeze: 
If you need to apply for credit, you can temporarily lift the freeze for a specific period or for a particular creditor.

Keep Your PINs/Passwords Secure: 
Store your PINs or passwords safely as you'll need them to manage your freezes.

Summary:
By placing a credit freeze, you can significantly reduce your risk of identity theft and protect your financial well-being.