Equifax, one of the nation’s largest credit repositories, just
announced that 143 million consumer credit accounts have been hacked. When you think about that number, it is
likely that almost every adult over the age of 18 who has a credit history has
been a victim.
The hack happened between May and July of this year and hackers
were able to access names,
Social Security numbers, birth dates, addresses and, in some cases, driver’s
license numbers. The risk is not
only that can hackers can run up your current credit accounts, but they can also
open new accounts and possibly even file fraudulent tax returns.
But, there are ways you can
protect yourself. Here are a few steps
to take to ensure your account have not been compromised and to minimize the negative
effects if you have been compromised:
- Check Your Credit – Check your credit report with the 3 main credit repositories (Experian, Equifax, and TransUnion) and look for any suspicious activities such as new accounts, credit inquiries, increased balances on current accounts or unknown addresses. You can obtain a FREE credit report each year from these repositories by visiting www.annualcreditreport.com
- Place a Fraud Alert on Your Credit Report – A fraud alert notifies creditors that you have been or may be a victim of fraud. It requires the creditor to take reasonable steps to make sure the person requesting new credit is actually you.
- Pay CLOSE Attention to your Statements – Check all transactions on your statements every month. Contact the creditor if you see any that appear to b suspicious
- Sign Up for FREE Credit Monitoring – Credit Monitoring will send you alerts when activity is detected on your credit report that can impact your credit history. This is important in detecting errors or sing of identity theft. There are several companies that offer free credit monitoring -Credit Karma is a popular one.
- Place a Credit Freeze on Your Credit – If you have been hacked, place a credit freeze on your credit accounts. This restricts access to your credit information to third parties and prevents would-be hackers from obtaining more credit in your name. Any time someone attempts to check your credit, the credit repository must obtain your permission to release that information.
- File Your Taxes Early – The best way to prevent income tax fraud is to beat the hackers to the punch. If you file early, they will have less opportunity to file your tax return and steal your refund.
Equifax has set up a dedicated call center to answer any questions
you have regarding the security breach at 866-447-7559. Or
you can check to see if you were affected by visiting, www.equifaxsecurity2017.com, and then click the "potential impact" tab.
It is still a great time to
purchase a home or refinance your existing mortgage - mortgage rates are at or
near the lowest levels of 2017. If you,
or someone you know, is looking to purchase or refinance, I can be reached at
708-473-7688 or BarkerLoans@gmail.com.
