Lock Your Credit to Stop Identity Thieves
By: Source: AARP.org Date Posted: 2007-08-01 12:19:51.878838-04:00
All North Dakota consumers now have the right to lock their credit files, thanks to a new security freeze law passed by the 2007 North Dakota Legislature.
"Freezing" your credit can help prevent becoming a victim of identity theft. Most businesses will not open credit accounts without first checking a consumer's credit history. If your credit files are frozen, even someone who has stolen your name and Social Security number would probably not be able to get credit in your name, according to Attorney General Wayne Stenehjem.
He says, "This protection is the best available tool that we have to deprive (identity) thieves of what they need, and that is your credit history."
Stenehjem credited AARP's strong advocacy efforts and contacts AARP members made with their legislators for achieving one of the strongest security freeze laws in the nation.
AARP North Dakota was a strong advocate for the measure. Said Linda Wurtz, AARP North Dakota's advocacy director, "This legislation will help every person in North Dakota, not just AARP members, protect their credit."
Under North Dakota's law, a security freeze is free to identity theft victims. Others must pay $5 to each of the three consumer reporting agencies. You can place a security freeze with the consumer reporting bureaus by telephone or mail. The security freeze will be placed more quickly by telephone than in writing. Since different credit issuers use different consumer reporting agencies, you need to place freezes with Equifax, Experian and TransUnion to stop your credit file from being viewed.
If you want to open a new credit account or get a new loan, you can lift the freeze on your credit file for a specific period of time or for a specific creditor. Each of the consumer reporting agencies will send you a Personal Identification Number (PIN) with instructions on how to lift the freeze. The consumer reporting agency must lift your freeze within three days. The fee for temporarily lifting the freeze is $5.00.
Identity theft has become epidemic. Every day an estimated 27,000 Americans become targets. That's almost 19 new victims every single minute and nearly 10 million annually.
Protect Yourself
Click here for links to security freeze request forms, and instructions on how to place a security freeze by phone. You will also find phone numbers for the attorney general's Consumer Protection Division.
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