Yesterday I suggested that freezing your credit report could be an option for anyone who wants to play offense with identity thieves, and won't be in the market for any new credit in the near future (including shopping for a new cell phone or utility service). If you've been a victim of identity theft freezing your credit report won't cost you any money, but if you've come this far without having your identity stolen than freezing your credit report comes with a fee. Why do you have to pay for the freeze? Because the bureaus make money by collecting and selling credit information about you and a freeze halts all of this money-making activity.You'll have to send freeze requests to each of the three separate credit bureaus along with a few specific details. To see what steps are necessary just read more.
- Equifax: Send a certified letter with these elements: name, address, date of birth, social security number, utility bill for proof of address, payment, and a police report if you are a victim.
- TransUnion: Send a letter with the following: name, address, social security number, copy of your driver's license, and payment.
- Experian: Send a request by certified or overnight mail including the following: name, social security number, date of birth, current and past addresses dating back two years, a copy of your driver's license, and one utility bill.
Visit each credit bureau's website to see your state's specific requirements and fees are for freezing your credit report. Do you think that freezing your credit report would be a good investment or a waste of time and money?
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i think that unless there is a strong chance your identity has been stolen, it might be a good idea to NOT freeze your credit report. its seems like a waste of money...