Sep 12 2017
08:06 am


The Equifax hack is bad. How bad? Pretty bad.

So, what can you do?

Experts recommend placing a "freeze" on your credit report. This can help prevent anyone from opening new accounts in your name using stolen identity info. (It doesn't stop thieves from using existing accounts, so you still need to monitor for suspicious activity.)

Here is info from the FTC about freezing your credit report.

Credit monitoring and identity theft protection companies such as Lifelock (and even Equifax) are seizing this opportunity to promote their services. Is it a good idea to sign up? Some say it is. Personally, I think it creates a situation where yet another company has all your critical info that could be exposed to yet another security breach. So it's up to you.

Equifax is also offering a way to see if your data was compromised. Unfortunately, various news reports said that using it restricted your right to sue them in court. Equifax has since issued a statement saying they have modified their terms of service and any restrictive terms would not apply to this incident. (More info.) Regulators are curiously MIA on this. It might be a good idea to wait until they weigh in. The safest bet is to just assume your info is compromised.

bizgrrl's picture

This is getting ridiculous.

This is getting ridiculous. And they want us to put more information on the internets/cloud, whoever they is. I keep getting prompted to get online for my medical records. I don't think so. I have been in the financial software business for years. I still do not do online banking and banks are pretty darn secure. Until someone figures out how to make this information for sure secure I'll keep as little information on the internets/cloud as possible.

cafkia's picture

I'm not disagreeing with you

I'm not disagreeing with you but all we are talking about is degrees of difficulty in access and degrees of damage that can be done.

Nothing is easier to hack than paper. Assuming you can get to the paper. Most homes can be easily infiltrated by a good B&E guy and you could well never know they had been there. If all they took was pictures of your documents, all could easily be lost.

If you feel safe, if you are comfortable with your level of security, a hack of some sort is clearly on the way. Paranoia is your only real security.

R. Neal's picture

Also, here is info on getting

Also, here is info on getting your free annual credit report from the FTC approved source...

Beware of impostors!

Herb's picture

this is best

Don't use Equifax for anything. Their Chief Security Officer had a Masters in Music.

You can freeze your credit with Experian. Or TransUnion.

R. Neal's picture

Also, the Equifax lookup to

Also, the Equifax lookup to see if you are compromised offers you their monitoring service free for one year if there's a hit. After that, you pay.

So they are seeking to profit by protecting you from the damage they caused. Guess they've gotta pay for all these coming lawsuits somehow.

Also, people are reporting that they enter random names and partial SSNs and get a hit every time.

bizgrrl's picture

AG: 3 million Tennesseans in

yellowdog's picture

Why are they still allowed to exist?

Corporations exist because we allow them to. Charters can be revoked. Why should this bunch be allowed to exist as a corporation?

see (link...)

bizgrrl's picture

While we are waiting, they

While we are waiting, they should pay for the "freeze" on accounts for all three companies.

R. Neal's picture

We just put freezes on all

We just put freezes on all our credit reports. Total cost for both of us was $30 (had to do them separately). TransUnion: $7.50 ea., Experian: $7.50 ea., Equifax: No charge.

It was relatively painless. You have to be careful at TransUnion, though, they make it very confusing by trying to sell you their monitoring service.

Be sure to write down/print out your PINs and keep them in a safe place.

Follow these links from the FTC to make sure you go to the legitimate bureau sites.

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