Consumer Action PowerPoint Training Slides
Leave ID Thieves Out in the Cold
Protecting yourself with a credit file security freeze
www.consumer-action.org Privacy Information Project
Identity Theft
• What is identity theft? • How might someone steal your personal information? • How could someone use your personal information after they get it?
Consumer Action: Freeze Your Credit File
What’s a Security Freeze?
• Makes credit file off-limits to anyone requesting it from three major credit reporting agencies
Equifax, Experian, TransUnion
• If creditor can’t evaluate the borrower’s credit history, the credit request will be denied • Your credit file remains available to you, existing creditors, law enforcement and government agencies
Consumer Action: Freeze Your Credit File
Security Freeze Pros
• Stops crooks from opening accounts in your name • Free for ID theft victims • Does not stop you from getting new credit • Does not expire • Doesn’t affect your credit score • Cheaper & more effective than a credit monitoring service
Consumer Action: Freeze Your Credit File
Security Freeze Cons
• • • • Can be expensive for non-victims Can delay transactions Makes instant credit unavailable Does not prevent existing account fraud
Consumer Action: Freeze Your Credit File
Determining If a Freeze Is Right for You
• Are you an identity theft victim? • Do you have reason to be believe you’re particularly likely to become a victim? • Are you actively applying for credit, services, a rental home, insurance coverage, or a job that requires a background check? • If you are not a victim, can you afford the fees to place and lift the freeze?
Consumer Action: Freeze Your Credit File
How to Freeze Your Credit File
• • • • Freeze with all 3 credit reporting agencies Submit required documentation Pay fee, if required Both spouses must freeze to be fully protected • Receive confirmation letter and PIN/password
Consumer Action: Freeze Your Credit File
Documentation for a Freeze Request
• Name • Social Security number • Birth date • Copy of government-issued ID • Proof of current address • Fee, if required • ID theft report, if applicable • Proof of age, if required • Other
Consumer Action: Freeze Your Credit File
How to Lift and Remove a Freeze
• • • • • Date-range or specific creditor lift? Lift fees Making the lift request When will the lift be processed? Removing the freeze
Consumer Action: Freeze Your Credit File
More Ways to Prevent ID Theft
• • • • • Check your credit reports Shred documents Lock mailbox Opt out of marketing mail Don’t carry your Social Security number with you • At home, keep sensitive info out of sight
Consumer Action: Freeze Your Credit File
Contact Consumer Action
• Call us at
415-777-9648 or 213-624-4631
• Email us at
outreach@consumer-action.org
Consumer Action: Freeze Your Credit File
Class Evaluation
• Please fill out the evaluation form and leave it on your way out. Thank you!
Consumer Action: Freeze Your Credit File