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For Immediate Release                             Contact:  David Irwin

Monday, March 24, 2008                                           (312) 458-3621 

                                                                                   Gerardo Cardenas

                                                                                    (312) 458-3609                                          

CREDIT REPORTING AGENCIES MAKE IT EASIER TO FREEZE ID THIEVES

 

AARP Illinois Commends Equifax, Experian & Transunion for Efforts to Educate Consumers on Tool to Protect Identity

 

CHICAGO, Illinois – In the latest blow to would-be identity thieves, all three major credit reporting agencies have now made it easier for consumers to put a “freeze” on their credit information.  Today, AARP Illinois commended the agencies for stepping up efforts to better inform and educate the public on how to use a security freeze by making the information easily accessible on their web pages. Illinois currently reports the 11^th highest number of identity theft complaints in the nation and the issue tops state consumer complaints.

 

 “While no age group is safe from ID thieves, older people tend to be particular targets,”   said Bob Gallo, AARP Illinois State Director.  “AARP commends Equifax, Experian and Transunion for helping consumers to get the information they need to put in place the consumer protections they deserve.”

 

When consumers place a freeze on their credit report, the three major credit reporting companies block access to their credit report and credit scores.  A freeze works because most businesses won't open new credit accounts without first checking the consumer's credit history.  In Illinois, placing the freeze is free for people 65 years of age and older and for those who have been victims of identity theft - for all others the cost is $10. 

 

“Being able to place a security freeze is the best protection from ID thieves – but it doesn’t need to be the best kept secret,” added Gallo. “Controlling who has access to your credit information is one the best ways to protect your identity.”

 

With nearly 25% of ID theft complaints coming from people over the age of 50, AARP led efforts for a security freeze law in Illinois to help consumers block thieves’ access to credit information. While placing a security freeze is considered the best way to protect personal information from ID thieves, a recent AARP study found the tool is virtually unknown.  The credit agency efforts will serve to better inform consumers about ID theft and how to place the freeze.

 

To learn more about how to place a security freeze, visit the credit reporting agencies’ websites: Equifax at www.equifax.com; Experian at www.experian.com or TransUnion at www.transunion.com.

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