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Identity Theft: Top Complaint by Consumers

Have you thought about Freezing your credit report? Well you can! You can "Freeze" your credit report to prevent Identity Theft.

Freezing your report isn't for everyone, especially if you are buying something as it will delay any new credit you may need. If you don't suspect you will be needing access to your report and you are concerned with Identity theft than a Freeze may just be for you.

Until late last year, this wasn't allowed. The three major credit bureaus (TransUnion, Equifax, and Experian) will freeze anyone for only $10 per bureau.

Having a freeze in place keeps any new lines of credit without going through a secure proceedure to "thaw" your credit.

$10 to Freeze.... $10 to Thaw.

Protecting your credit is time consuming, but a necessity. If you are worried about Identity Theft there are a number of companies that focus on identity protection:

Credit Scores tell a lot about you.

Did you know it is legal for employers to refuse to hire people with low credit scores? Yes, prospective employers can use credit score as part of their hiring criteria.

"Credit scores have become the de facto "GPA" for all aspects of modern life because they can affect everything from getting a job to being able to buy a house," says Jason Alderman, the director of financial education for Visa USA.

So, if your getting ready to buy a house, don't freeze. Call or email Anona Large for advice on the next step.

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Posted by Anona Large-Oak Ridge, TN Real Estate on 02/21/2008 07:24 AM

Comments (9)

This post has been included in Tennessee Information Anderson County, TN Information

9 Comments on Identity Theft: Top Complaint by Consumers

Great info, good to know for all of us. Thank you Anona! Have a great day and happy selling!

02/21/2008 08:11 AM

by Sonja Babic/Prudential Clear Water Realty New Bern NC

Yep. Another thing to manage....credit scores. They effect virtually everything in one form or another and if the consumer really knew how much it costs them if they do not take care or manage their credit.

My opinion (not that you asked) is that at some point there will be a huge class action law suit because every day unfairly and unwittingly people are penalized because the information reported on their report is incorrect at no fault of their own and for those that have tried to repair or fix errors you know how tedious it is PLUS you know it does not solve the consequences you face at the time your credit is pulled (there are exceptions).

Good post.

02/21/2008 08:12 AM

by Kirk Williams, #LMA 510-LO-32537 (Primary Residential Mortgage Inc. & IMS Consulting)

Like anything in life we always need to be on the offensive. I believe in taking a pro active approach to protecting yourself.

Lorraine

02/21/2008 08:21 AM

by Lorraine and Loretta Kratz (Crescent Moon Realty, Inc. & Land N Sea Auctions.)

Anona,

I did not know this......I guess if you have no need in the immediate future it will work.....how fast is the freeze/defrost process?

02/21/2008 08:30 AM

by Dan Brudnok - Realtor, e-PRO, ABR, CSP - Chester County RE Professional (Keller Williams - Exton - PA License Number #RS225179L )

Sonja, Thanks for coming by!

Kirk, I know I didn't ask for it, but I am glad I gave you some information that made you jump on that soap box! lol.

02/21/2008 02:38 PM

by Anona Large-Oak Ridge, TN Real Estate (Realty Executives Associates)

Lorraine, It is just a shame we have to. This Identity Theft issue is unbelievable.

02/21/2008 02:39 PM

by Anona Large-Oak Ridge, TN Real Estate (Realty Executives Associates)

Dan, I am not sure. I am guessing, and just guessing, that would depend on the bureau. Good question.

02/21/2008 02:41 PM

by Anona Large-Oak Ridge, TN Real Estate (Realty Executives Associates)

These sound like great services, especially the online security companies that "lock" your personal data. Interesting, Anona. Thanks for the education. I'll click on the links.

02/26/2008 07:11 AM

by Blogger To Be Named Later

Andrew - - Thanks for coming by. I didn't know about the ability to freeze until recently myself.

02/26/2008 12:30 PM

by Anona Large-Oak Ridge, TN Real Estate (Realty Executives Associates)