Credit Reporting Services for Lenders, Landlords, and Property Managers
September 8, 2017
Equifax Data Breach – what you can do –
Being a Credit Reporting Agency, our concern is data that we gather for our clients may have been compromised – not by what we do, but the very nature of being in the credit reporting business.
Below is information we have gathered directly from Equifax:
As of now, Equifax does not believe that any of the data that is stored for credit reporting purposes has been compromised, however, they have set up a website that any U.S Consumer can go to see if they have been compromised, and to also enroll in Free Credit Monitoring:
That website is https://www.equifaxsecurity2017.com/ the site will ask you to register, and then give a date that the consumer should hear back from Equifax as to whether or not their data has been compromised.
REGARDLESS of whether or not the consumer’s information has been compromised ANY U.S. CONSUMER may enroll in 1 year of FREE CREDIT MONITORING, which will include a copy of their Equifax credit report, ID Theft Insurance, and a tool to allow an internet scan to see if their Social Security Number is being used on the internet at all
In addition – Equifax has set up a toll-free number that consumers can call if they would rather go through the enrollment process on the phone-
It is 866-447-7559 -the call center is open from 7AM – to 1 AM EST - and the non-peak hours to call would be between 1- 5 PM and after 7 PM
They did caution however, that the phone line has been extremely busy – so to not get discouraged if the call gets disconnected, or can’t get through – to try again.
September 28, 2017 Protect your credit after the Equifax Data Breach - PLUS - if you paid for a freeze on your Equifax report because of the breach, you may be entitled to a refund - read full article here
September 15, 2017
The FTC (Federal Trade Commission) releases a warning that hackers are now calling consumers claiming to be from Equifax, and asking for personal information
EQUIFAX WILL NOT BE CALLING ANYONE - read the full article here
September 15, 2017
The FTC (Federal Trade Commission) is investigating the Equifax Breach - Read why that's a big deal
September 19, 2017 There are other options
I’ve been getting calls from some of our Clients, and while I am not allowed to give advice about any of these matters - there are other options that people have been doing to monitor their credit without going through the Equifax registration process – and I’ve done some research to give you links for more information –
Going through the Equifax registration is pretty cumbersome, and has many steps to it – plus, their terms of agreement state that if you sign up for their monitoring, you also agree to not participate in any litigation – Equifax has since stated that this does not apply to this particular breach – however, they have not changed the wording on their agreement either
People are looking at other means of credit monitoring - and LifeLock comes up quite often – they have different levels of monitoring, and for the lower price per month, they only will do credit card monitoring - which almost every credit card company does that for its customers anyway – so then you’re looking at higher levels of monitoring, the price goes up per month for more in depth monitoring up to $30 or more
To put a freeze on your credit reports means that any company that would try to pull credit would not get a report back – what you would have to do for this is contact each bureau – Equifax, TransUnion, Experian – and individually place the freeze on each– then you would receive a code / PIN that only you would know so that if you were legitimately applying for credit, you would first have to contact the bureaus to have the freeze lifted, and then that company would be able to pull your credit - then you would have to contact each bureau again to have the freeze placed back on your report
This website gives information on the difference between a freeze on your account vs a fraud alert – and the charges for Wisconsin residents. https://datcp.wi.gov/Documents/IDTheftCreditReportFreeze632.pdf
To place a fraud alert on your credit file is no charge at all, and you only need to contact one bureau; they are obligated to contact the other two bureaus on your behalf - TransUnion has a great website that explains all of your options for placing fraud alerts -