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ALBANY---The New York State Consumer Protection Board announced that starting Nov. 1, New Yorkers can request that a security freeze be placed on their credit files. A security freeze can aid in the prevention of Identity Theft by thwarting someone from opening credit cards or lines of credit in another persons name.
"Thanks to Governor Pataki, this new law will give New Yorkers a way to help prevent Identity Theft because it will block access to your credit history," said CPB Chairperson Teresa Santiago. "Blocking access to your credit files, in most cases, will prevent someone from using your name and credit information to establish a new line of credit."
"When phony credit accounts are created - and the subsequent bills are not paid - it can ruin your credit history, resulting in harassing calls from collection companies and making it extremely difficult for you to buy a home, borrow money or obtain a credit card," said Chairperson Santiago.
A security freeze can only be obtained by sending a letter by certified mail or overnight courier to each of three credit reporting agencies: Trans Union, Experian and Equifax. The service is free if a consumer is making this request for the first time. However, a $5 fee can be charged for subsequent requests, as well as to remove or temporarily lift a security freeze. No fees are charged to victims of Identity Theft provided they submit a signed police report or an ID Theft Victim's affidavit obtained from the Federal Trade Commission.
The freeze will take effect within five business days after the consumer's letter is received. Within 10 days, the credit bureaus must send a letter to the consumer informing them that the security freeze is in place and giving them instructions on how they can remove or temporarily "thaw" this credit freeze. The letter will also include a personal identification number (PIN) to be used when the consumer calls a credit bureau in the future.
The Security Freeze can be temporarily lifted for a specific period of time or for a specific company or creditor. To do this, you must write or call the credit bureaus using the personal identification number (PIN) provided by them and request a temporarily lift of the security freeze from your records. This "thaw" will cost $5 and the credit bureaus will have three days to carry out this request. Consumers should plan ahead if they want to borrow money, finance a purchase or open a new credit card.
Consumers can use one of the sample letters available online at www.nysconsumer.gov. Further information is available on the credit bureaus' websites listed below.
TransUnion
Fraud Victim Assistance Department
P.O. Box 6790
Fullerton, CA 92834
1-888-909-8872
TransUnion - Security Freeze
Equifax Security Freeze
P.O. Box 105788
Atlanta, Georgia 30348
1-800-685-1111
Equifax - Security Freeze
Experian Security Freeze
P.O. Box 9554
Allen, TX 75013
1-888-397-3742
Experian - Security Freeze 11-1-06
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© 2006 North
Country Gazette
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