Equifax data garnered by hackers -- are you freezing your credit reports?

[Muse]

I searched a few forums here and couldn't find any posts on this, which surprises me.

Names, addresses, SSNs, DOB, etc. for more than 1/2 of Americans is now in the hands of criminal hackers by virtue of this. I've been reading what I can only call very alarming accounts in the San Francisco Chronicle about this. The articles make the case in the strongest terms that legislation should be enacted quickly to give the public better control of their credit. The situation seems complex and it appears that dealing with it sensibly isn't easy or obvious. Have you frozen your credit reports? The articles say that's the only way you can protect yourself and that you have to pony up $10 to do it! Then you have to deal with the intricacies of unfreezing, refreezing your reports when the situation requires it.

 

[ponyo]

https://forums.anandtech.com/threads/equifax-hacked-143m-us-consumers-could-be-affected.2518112/

 

[MtnMan]

Mine have been frozen since 2007. It is easy enough to unfreeze you report for as little as 24 hours and then the freeze automatically goes back into effect. I lifted the freeze, went to the bank for a car loan, and the freeze went back in place the next day.

Make a police report about you identity being stolen, and they have to implement the freeze for free.

 

[JEDI]

$10 a pop at each major credit agency.
$30

 

[Red Squirrel]

Anyone know if this affects Canada too? As far as I know Equifax is used here too for credit.

IMO everyone should be issued new SSNs by the government, and the costs of doing this should fall on Equifax. There should be a class action lawsuit on top of it. The government should also sue for the trouble of having to issue the new SSNs. Basically, this needs to financially hurt Equifax enough for them to actually care. They need to take a big hit.

What does freezing your credit involve, how do you do that? Does that affect you if you have a mortgage or credit card? Ex: is it going to block the payments from going through? Or is it just for applying for new forms of credit?

 

[eng2d2]

I believe the one equifax is offering is only good for 30 days. Pathetic

 

[s0me0nesmind1]

IMO everyone should be issued new SSNs by the government, and the costs of doing this should fall on Equifax. There should be a class action lawsuit on top of it. The government should also sue for the trouble of having to issue the new SSNs. Basically, this needs to financially hurt Equifax enough for them to actually care. They need to take a big hit.

Well, to be honest, we need to stop using SSN as the basis for identifying people for things like credit.

 

[Muse]

Mine have been frozen since 2007. It is easy enough to unfreeze you report for as little as 24 hours and then the freeze automatically goes back into effect. I lifted the freeze, went to the bank for a car loan, and the freeze went back in place the next day.

Make a police report about you identity being stolen, and they have to implement the freeze for free.

A few questions:

So, you did this in 2007?

Did you have to pony up a fee at 3 different credit agencies?

No charges thereafter even when you unfreeze?

The refreezes happen automatically? Or do you have to initiate those?

 

[MtnMan]

Best I remember I had to pay one of the three, but not sure which one.

It is a life time freeze, and there are no charges for lifting the freeze temporarily. I can pick how long I want the freeze lifted (hours or days) and it go back into effect once the lift has timed out. No charges for any of this.

Of course you can remove it permanently if you want, but why? Last time I lifted it, I called the credit union and asked which agency they use for credit checks. Lifted that one for 8 hours, then went to the credit union (co-sign auto loan for daughter), and it automatically froze in 8 hours.

 

[ponyo]

Best I remember I had to pay one of the three, but not sure which one.

It is a life time freeze, and there are no charges for lifting the freeze temporarily. I can pick how long I want the freeze lifted (hours or days) and it go back into effect once the lift has timed out. No charges for any of this.

Of course you can remove it permanently if you want, but why? Last time I lifted it, I called the credit union and asked which agency they use for credit checks. Lifted that one for 8 hours, then went to the credit union (co-sign auto loan for daughter), and it automatically froze in 8 hours.

The fees for the freeze, temporary, and permanent thaws vary by the credit bureau and the state. In some states, it's free. Some it's $3. Some high as $10. Since the credit bureau makes money selling your information, they do not like or want you to freeze your credit.

 

[MtnMan]

The fees for the freeze, temporary, and permanent thaws vary by the credit bureau and the state. In some states, it's free. Some it's $3. Some high as $10. Since the credit bureau makes money selling your information, they do not like or want you to freeze your credit.

In my state it is free to temporarily lift freezes, and as for their bottom line; Frankly my dear I don't give a damn

 

[Red Squirrel]

Well, to be honest, we need to stop using SSN as the basis for identifying people for things like credit.

YES! That is a good idea too. It's retarded that a simple number is basically being used for something that critical. Does not help that everyone needs it so it's in so many databases everywhere.

 

[ch33zw1z]

Meh, after Anthem lost all my family's medical information, I figured I was screwed anyways.

 

[Muse]

YES! That is a good idea too. It's retarded that a simple number is basically being used for something that critical. Does not help that everyone needs it so it's in so many databases everywhere.

The craziest thing is that when I got a medicare number assigned it was exactly my SSN with one additional letter. They put it right on your Medicare ID card. Bonkers!

I don't trust anybody's database, TBH. When I was the database administrator for the last company I worked for full time I had access to the personal data for the employees of a dozen of the largest tech companies in the USA, and many other companies and individuals. I had (and have) scruples, but that was principally my personal concern. Our data was far from bullet proof, far from hack proof. I knew the encryption algorithms we used to hide and retrieve that data (I didn't write them). To say they were weak is an understatement. If you knew the language they were written in unencrypting that data was a breeze.

Rather than give a CC number to any company I prefer to pay through Paypal. I figure the less companies that have my info in their data tables, the better. From my perspective (and it's likely relatively enlightened) the notion of security in data management is to a large extent illusory.

Based on the news I've been hearing it's likely that your sensitive, crucial personal data (name, ssn, address, even CC numbers) are in the hands of criminals right now. I suppose that it's unlikely that it's being actively used right now or will be in the near term merely because so much of this data is out there that the odds of them targeting you are fairly low. Just what jeopardy you are in should you become a target is something I don't know much about!