Easier, cheaper credit report freezes
SACRAMENTO - Gov. Arnold Schwarzenegger Monday signed legislation to put the deep freeze on fees charged for freezing credit reports.
http://weblog.signonsandiego.com
CreditReportBlog.com - Well, we can hardly call this piece of legislation a “deep freeze”. There a few good changes, but anything huge. It calls for the fees charged by credit reporting agencies to now be $10 instead of $12, gives seniors a rate of $5, and calls for agencies to comply to all freezing requests within 3 days. Another little tidbit, requests can now be made through regular mail, instead of only certified mail.
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“Freezing your credit report?”Good idea?
Credit Report Blog (Creditreportblog.com) frequently gets this question about the idea of “freezing your credit report”. However, there are still many who have not heard of this new concept of limiting access to the credit report. The credit report is a key tool and essential part of the decision process of lenders on whether or not to extend credit to individuals. In the wrong hands, however, the credit report can also be the tool used by thieves to cause much financial damage to someone. As a result of the rise in identity thefts across the country, this option of freezing a credit report has come about.
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U of U medical records stolen, 2.2 million patients’ data at risk
University of Utah Hospital and Clinics patients are bracing for the unknown as police and prosecutors investigate the theft of 2.2 million billing records filled with personal information.
Authorities say the records, stolen out of a courier’s personal vehicle earlier this month, put the private data of patients from the past 16 years at risk.
Credit Report Blog - It’s amazing how an incident like this can lead to astronomical financial damage for every one of those 2.2 million patients. Hospitals and any other organizations that hold such sensitive information need to take responsibility and re-think their procedures so that these mishaps do not happen. The good thing is that the U of U is taking the right steps in offering free credit monitoring services to all patients whose social security numbers were compromised. Read more
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How to Avoid Becoming a Victim of Identity Theft: Interview with Jeremy Duffy
“With the recent news about the CEO of LifeLock having his identity stolen, I looked around the web searching for ways we could prevent ourselves from becoming a victim without having to pay monthly or annual fees.”
***Credit Report Blog*** Jeremy is absolutely on the right track with this issue. Why pay for a service that you really don’t need, provided you are willing to invest some time and effort yourself? With a little diligence, every consumer can do exactly what the monitoring service companies do, without paying the monthly fees for their services. They don’t really “stop” identity theft as they claim; they just let you know once it has occurred. If that’s all you want, monitor your credit report yourself for inaccuracies and changes unfamiliar to you.
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Stop Identity Theft in its Tracks
No matter how careful you are, thieves are usually a step ahead. What do you do, when they come for you? Once you discover that you may have become a victim of identity theft, here are some MUST DO’S for you to avoid minimal damage:
· Immediately, notify police, banks, credit card companies, and any other parties that you can think of.
· Make certain that you get your copy of the police report, so that you have proof of a crime having been committed.
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What is “identity theft”?
Identity theft is a crime that occurs when a criminal obtains key personal information of another individual, such as social security number or driver’s license and uses it to take on someone else’s identity. The criminal will then go ahead and do such things as obtain credit, open new accounts, and purchase goods and services, using the victim’s name. Criminals can also use their victim’s info to commit other non credit-related crimes.
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