Announcement

Collapse
No announcement yet.

Extended fraud alerts vs credit freeze

Collapse
X
 
  • Filter
  • Time
  • Show
Clear All
new posts

  • Extended fraud alerts vs credit freeze

    If I'm asking this question, you can tell I've been having a lovely time...

    Basically, after being an identity theft victim, are the extended fraud alerts generally sufficient to prevent further false accounts etc, or should I totally freeze it? I understand that "thawing" it in case I need an inquiry done can be fairly simple.

  • #2
    If you have zero tolerance for having to occasionally deal with fraud, would prefer to go through unfreeze process with three different credit reporting bureaus every time you need an inquiry, then you should totally freeze it.

    Personally I don't want to deal with the hassle.

    Comment


    • #3
      I have both alerts and a freeze with Transunion. The alerts are annoying. The freeze is useful and a minor inconvenience, in practice.

      Comment


      • #4
        I have a credit freeze. Any minor hassle is worth it to avoid the much greater nuisance of dealing with identity theft affecting my finances.
        My Youtube channel: https://www.youtube.com/channel/UCFF...MwBiAAKd5N8qPg

        Comment


        • #5
          I have a freeze in place with Experian and Equifax (and really ought to get one in place with Transunion as well).  Lifting the freeze when I need new credit is a minor pain, but not difficult to do.  If I want to apply for a new credit card, I call the bank offering the card first and ask which of the three companies they will want to pull a credit report from before I fill out the online application; that way I can temporarily lift only the specific freeze needed.

          Just make sure if you freeze your accounts you don't misplace the PIN numbers each agency gives you.  You will need them to lift the freeze!

          Comment


          • #6
            Another vote for freeze. I've consulted for one of the theft protection services and it's all after the fact alerts in the industry. Some ID protection providers have hourly updates on credit data, some are looking at data a week old (data monitoring can be priced by how old it is so some providers save a buck with older data) I'm amazed people spend $10+ a month on monitoring when freezing is basically free. We've had a freeze for many years and a minor pain to lift, but love the security.  I'm actually planning to put a freeze on the kids since industry stats suggest they are more likely than adults to be victims.  When opening credit I simply ask which provider is used and usually only have to lift one service bureau. They all used to charge around $10 for a temp lift, but I don't think I paid that fee last two times so some may have dropped the fee.

            I believe medical ID theft and child ID theft are the fastest growing segments.

            Comment


            • #7
              So, I froze my credit at the prompting of this thread.  Glad I did:  http://money.cnn.com/2017/09/07/pf/victim-equifax-hack-how-to-find-out/index.html?iid=EL

              Just so I'm clear, is there a reason to enroll in the identity theft protection service that equifax is providing?

              Comment


              • #8
                Speaking of, what do you all think of the equifax hack in? I froze my credit earlier this year, but this leak won't stop tax fraud. But not sure why someone would want to file my returns since I usually owe money.

                Comment


                • #9




                  Speaking of, what do you all think of the equifax hack in? I froze my credit earlier this year, but this leak won’t stop tax fraud. But not sure why someone would want to file my returns since I usually owe money.
                  Click to expand...


                  They file false tax returns and claim a refund, as soon as the filing window is open, while you are getting your materials together. The criminals do not know you or your circumstances.

                  Then, when you legitimately file, you get a message back from the IRS that your return has already been filed, and you have to go through the steps to prove that you are the legitimate filer.

                  Comment


                  • #10







                    Speaking of, what do you all think of the equifax hack in? I froze my credit earlier this year, but this leak won’t stop tax fraud. But not sure why someone would want to file my returns since I usually owe money.
                    Click to expand…


                    They file false tax returns and claim a refund, as soon as the filing window is open, while you are getting your materials together. The criminals do not know you or your circumstances.

                    Then, when you legitimately file, you get a message back from the IRS that your return has already been filed, and you have to go through the steps to prove that you are the legitimate filer.
                    Click to expand...


                    That actually sounds pretty easy with a clear path forward.  What could possibly go wrong when dealing with the IRS?

                    This sounds like a great reason to file as early as possible.  If only those darned K-1's arrived in a timely fashion....

                    Comment


                    • #11










                      Speaking of, what do you all think of the equifax hack in? I froze my credit earlier this year, but this leak won’t stop tax fraud. But not sure why someone would want to file my returns since I usually owe money.
                      Click to expand…


                      They file false tax returns and claim a refund, as soon as the filing window is open, while you are getting your materials together. The criminals do not know you or your circumstances.

                      Then, when you legitimately file, you get a message back from the IRS that your return has already been filed, and you have to go through the steps to prove that you are the legitimate filer.
                      Click to expand…


                      That actually sounds pretty easy with a clear path forward.  What could possibly go wrong when dealing with the IRS?

                      This sounds like a great reason to file as early as possible.  If only those darned K-1’s arrived in a timely fashion….
                      Click to expand...


                      The better solution is to get a yearly PIN number from the IRS, by mail, without which your taxes cannot be successfully filed. It's a clumsy two factor authentication, but it seems to slow down the efforts to hack your taxes.

                      Comment


                      • #12













                        Speaking of, what do you all think of the equifax hack in? I froze my credit earlier this year, but this leak won’t stop tax fraud. But not sure why someone would want to file my returns since I usually owe money.
                        Click to expand…


                        They file false tax returns and claim a refund, as soon as the filing window is open, while you are getting your materials together. The criminals do not know you or your circumstances.

                        Then, when you legitimately file, you get a message back from the IRS that your return has already been filed, and you have to go through the steps to prove that you are the legitimate filer.
                        Click to expand…


                        That actually sounds pretty easy with a clear path forward.  What could possibly go wrong when dealing with the IRS?

                        This sounds like a great reason to file as early as possible.  If only those darned K-1’s arrived in a timely fashion….
                        Click to expand…


                        The better solution is to get a yearly PIN number from the IRS, by mail, without which your taxes cannot be successfully filed. It’s a clumsy two factor authentication, but it seems to slow down the efforts to hack your taxes.
                        Click to expand...


                        You can only get a pin if you live in 1 of 3 states OR if you've been compromised. Maybe this equifax hack will make the IRS allow everyone to get this pin.

                        Comment


                        • #13
                          Clark Howard on credit freezes with links and phone numbers.

                           

                          http://clark.com/personal-finance-credit/credit-freeze-and-thaw-guide/#disqus_thread

                           

                          Comment


                          • #14

                            3 reasons breach victims might not want Equifax credit monitoring


                             

                            https://www.cnbc.com/2017/09/08/3-reasons-breach-victims-might-not-want-equifax-credit-monitoring.html

                            Comment


                            • #15




                              I have both alerts and a freeze with Transunion. The alerts are annoying. The freeze is useful and a minor inconvenience, in practice.
                              Click to expand...


                              So... help me out here.

                              Do you just log in, toggle "freeze/unfreeze", or call, or send a letter, or ?

                              Comment

                              Working...
                              X