Identity Theft and Security Freezes

Find Out a Freeze on Your Credit Report Can Reduce Your Risk of Identity Theft

In 2007, it looks like Arkansas residents will benefit from a yet-to-be-passed bill regarding identity theft. Arkansas is trying to follow the lead of twenty five other states and pass identity theft legislation that will give consumers greater control over just who has access to their credit reports.

Hope on the Horizon

If the bill is successfully passed in 2007, Arkansas residents will have the ability to contact credit reporting agencies and have the credit reporting agency put a “freeze” on their credit reports. This would result in others not being allowed to access the credit report.

Any piece of legislation that gives consumer great control over their personal credit reports and restricts the access others have to them is beneficial especially when it comes to reducing the risk of identity theft.

Summing Up The Basics

The way a security freeze would work is pretty simple. If an identity theft criminal steals your information from somewhere and tries to open a new credit account in your name, the credit card company will have to call you to remove the security freeze if in fact you want a new credit card. At this point you would be very aware that something was wrong if you didn’t try to open a new credit card. A security freeze can really prevent identity theft by stopping the criminals before they do any damage.

Even if you put a security freeze on your credit report it is still important to be cautious with who you give your social security number and credit card information to. You will still need to shred any documents containing your social security number or bank account or credit card numbers. A security freeze will simply provide you with an extra layer of defense against identity theft criminals.

Another important measure that is a aimed at reducing your risk of identity theft is to request your credit reports annually and check them over for any suspicious activity or signs of possible identity theft.

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