Put a Freeze on your Credit Report

by Eugene S. Melchionne, Connecticut Bankruptcy Lawyer

After November 1, 2007, it will be possible to freeze your credit report restricting your information only to those you specifically authorize. In 2003, California started the trend of locking a credit report for victims of identity theft. Other states followed suit and now by voluntary agrement of the three major credit reporting agencies, the remedy is available to residents of every state in the country.

A security freeze will lock your credit report to everyone asking for it until you provide a personal identifcation number to the credit bureau specially authorizing access. By law in some states, there may be a fee for this service and the fee may need to be paid every time the freeze is lifted temporarily. However, payment of this amount could be much smaller than any damage caused by a determined identity thief. To determine whether a security freeze is right for you check out this page by the Consumer’s Union.

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