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| Starting November 1, 2006, New Yorkers have a new weapon to use against Identity Theft: the New York State Security Freeze Law | |||||||||
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| How Does the Security Freeze Work? A Security Freeze is placed on your credit file, which is sometimes called your "credit history." The Security Freeze works by preventing most lenders and others from gaining access to your credit report for review prior to granting a new line of credit. If there is a Security Freeze on your credit file, the lender won't be able to get a copy of your credit history and, as a result, most lenders will refuse to open a new credit account. The Security Freeze will, in most cases, block someone from opening a new account or borrowing money using your name or personal and financial information. That's bad news for the bad guys. A Security Freeze will prevent them, in most cases, from opening a new credit card or borrowing money because your credit file is now off limits until you lift the Security Freeze. | |||||||||
| Is a Security Freeze the right choice for everyone?
Not everyone will want to put a Security Freeze on their credit file. With a Security Freeze in place, you won't be able to borrow money or get a new credit card until you temporarily lift or permanently remove the Security Freeze. The same is true of new insurance coverage and background checks that might be required by a new employer. | |||||||||
| How do I obtain a Security Freeze? You must write and mail a separate letter to each of the three major credit reporting agencies: TransUnion, Experian and Equifax. In requesting a Security Freeze, your letters must contain the personal information required by each credit reporting agency. This information is needed so the credit reporting agencies can verify your identify and process your request. Each company has different identification requirements so the Consumer Protection Board is supplying you sample letters (below) that can be used to make your request for a Security Freeze. Although additional information may be required should there be a question during the verification process, these sample letters show what basic information is required, as well as the addresses where they should be mailed. IMPORTANT: Each letter must be delivered by the U.S. Postal Service either by certified or overnight mail (known as "Express Mail"), with the exception of TransUnion. TransUnion will accept letters sent by regular mail. However, for increased personal information protection, the CPB suggests that you send your letters certified or overnight via the U.S. Postal Service. | |||||||||
| Sample
letter to TransUnion Sample letter to Experian Sample letter to Equifax | |||||||||
| What happens after I mail my request?
The three credit reporting agencies must place a Security Freeze on your credit file within five business days of receiving your request. Within 10 days of placing the Security Freeze on your credit files, each credit bureau must mail you a letter confirming that a Security Freeze is now in place. These letters will also contain a password or a Personal Identification Number ("PIN"). When you want to temporarily lift or permanently remove your Security Freeze, you can use this password or PIN to identify yourself when contacting the credit reporting agencies. Each credit reporting agency will give you a different password or identification number. | |||||||||
| Are there any fees associated with the Security Freeze
Law?
In addition to mailing costs, after the first request to place a security freeze on your credit file, the credit reporting agencies may charge up to $5 fee to place, temporarily lift or to remove a Security Freeze. There is also a $5 fee for the issuance of a replacement PIN or password. If you are a victim of Identity Theft and provide a valid copy of a police report or a Federal Trade Commission ID Theft affidavit, alleging the crime of identity theft, there are no fees for any of these services. | |||||||||
| How do I request a temporary lift or permanent removal
of the Security Freeze?
Consumers may request that the Security Freeze be lifted temporarily, or permanently removed, and should follow instructions provided by each consumer credit reporting agency. To obtain a temporary lift of the Security Freeze, consumers must inform the consumer credit reporting agency of the name of the party to whom the report should be made available or the period of time when the report should be available to all requestors. Requests for temporary or permanent removal of the Security Freeze must be accompanied by proper identification, your password or PIN, and payment of the applicable fee. Consumer credit reporting agencies must comply with such requests within three business days of receipt. | |||||||||
| Can I order my own credit report if my file is
frozen? Yes. To obtain a free copy of your credit report (a copy is available from each of the three consumer credit reporting agencies every 12 months), you can request copies at https://www.annualcreditreport.com/ by calling toll free at 1-877-322-8228. Hearing-impaired consumers can access via TDD service at 1-877-730-4104. | |||||||||
| Will a Security Freeze lower my credit
score? No. | |||||||||
| Does one Security Freeze cover everyone in your
household?
No. Each person in a household must request a Security Freeze through separate letters requesting the freeze along with proper identification and payment (if applicable). | |||||||||
| What is the difference between a Security Freeze and
Fraud Alert?
A Fraud Alert is another tool available to help consumers if they think they may have become the victim of Identity Theft. A Fraud Alert is a special message on the credit report that a credit issuer receives when checking a consumer’s credit rating. It tells the credit issuer that there may be fraud involved in the consumer’s credit file. A Fraud Alert can help protect you against identity theft. A Fraud Alert can also slow down your ability to get new credit. It should not stop you from using your existing credit cards or other accounts. A Security Freeze means that your credit file cannot be seen by potential creditors, insurance companies, or employers doing background checks – unless you give your consent. | |||||||||
| Where can I obtain more information regarding Identity
Theft? The Consumer Protection Board has prepared information on how to avoid becoming a victim of Identity Theft and what to do if your identity is stolen. That information is available at www.nysconsumer.gov (under “Publications"). | |||||||||
| How do I contact the three credit reporting agencies for
further information?
For more information, the three credit reporting agencies can be contacted online at | |||||||||
| http://www.transunion.com/corporate/personal/fraudIdentityTheft/preventing/securityFreeze.page | |||||||||
| https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=elearning_credit15#security | |||||||||
| www.experian.com/consumer/security_freeze.html | |||||||||
| Questions can also be sent by mail to: | |||||||||
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TransUnion Fraud Victim Assistance
Department | |||||||||
| Equifax Security Freeze P.O. Box 105788 Atlanta, Georgia 30348 | |||||||||
| Experian Security Freeze P.O. Box 9554 Allen, TX 75013 |
