From Deseret News archives:
More people are freezing credit report
A frozen credit report prevents almost anyone from using your name to take out a loan or sign up for credit, such as a credit card, a bank account or cell phone service. That is because, with a freeze in place, potential new creditors can't get access to your credit record kept on file by the three main credit-reporting bureaus without your explicit permission.
Michael Dana, a Dallas police detective, chose to freeze his credit reports after a Texas law took effect last month that made freezes available to all residents. Dana says he received several notices from financial institutions and the government saying that some of his personal information may have been compromised. "You can try to shred all your documents," says the 42-year-old. But "I'd rather shut my credit down and have the best security in place and not be a victim at all."
Florida enacted a credit-freeze law last year, and Jimmy Glass and his wife signed up the same day. "Just the thought of someone else being able to assume your identity and rack up thousands of dollars in your name that's just unthinkable," says Glass, of Orlando. "I have all the credit cards I need, no mortgage and no need for any car loans, so I just decided to shut it down."
Sometimes a brush with identity theft prompts people to take action. Dave Schreima of Long Beach, Calif., says someone recently got hold of his bank-account number and started making unauthorized withdrawals. "I had already decided to freeze my records. That just kind of prompted me that this is the time to do it," says the 49-year-old retired computer programmer.
"New account fraud is more serious than people hijacking your current accounts because you can go for a very long time and not realize that there's an account in your name at a store you never shop in," says Claudia Bourne-Farrell, a spokeswoman at the Federal Trade Commission.
Recent comments
Right on! Steps in the direction to prevent identity theft are most...
Anonymous | Oct. 29, 2007 at 8:06 a.m.
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