2011

Disclaimer

This web site is designed for information purposes only. To the fullest extent permitted by applicable law, this web site makes no representations or warranties of any kind, express or implied, regarding the use or the results of this web site in terms of its correctness, accuracy, reliability, or otherwise. This web site shall not be liable for any special, indirect, consequential, or incidental damages, or damages for lost of profits, loss of revenue, or loss of use, arising out of or related to this web site or the information contained in it.

 

©  2008 - 2011   www.ConsolidateDebtLoan-S.com   All Rights Reserved

:: Contact Us    :: Sitemap    :: Debt Consolidation Loans

 

 

 

 

How to Freeze Your Credit Report

 

Having credit reports frozen are mainly useful for people who have been victimized by identity thieves.  It is vital to protect yourself from this violation as identity theft impacts heavily on your reputation and credibility with lenders, insurance agencies, banks and credit card companies.  

 

Here are some helpful procedures that you need to think about when considering a credit freeze:

 

 

 

Determining Eligibility

 

Victims of identity theft are the ones who usually apply for a credit freeze.  If you find you suddenly have new credit cards but have not applied for any of these, you may be a victim of identity theft.  

Even if you are not a victim of identity theft, you can still choose to have your credit frozen.  Other compelling reasons for a credit freeze are:

 

• If you have kids who are 18 years old or younger, you may want to have their credit reports frozen.  Children under 18 are one of the favourite targets of identity thieves.

 

• Having a credit report frozen usually entails fees imposed by the three major credit bureaus but if you have no problem paying for these charges, then by all means, apply.

 

• You are a senior citizen.  The behaviour of senior citizens when it comes to finances rarely involves changes.  They are less likely to acquire credit cards or loans as they usually have more than enough money saved.  Even so, it is still a good idea to apply for a credit freeze because senior citizens will have a harder time recovering from identity theft.  Plus, in some states senior citizens aren’t charged any fees.

 

Application Steps

 

If you are determined to apply for a credit report freeze, here are the steps you will typically undergo:

 

1. Get in touch with the three major credit bureaus namely TransUnion, Equifax and Experian because you will need to file an application with all three.  

 

2. Find out how much your state charges for the application as well as other fees, if any.

 

3. TransUnion and Experian require all applicants to submit a photocopy of their driver’s license.  Both Experian and Equifax require proof of billing address.

 

4. Aside from the documents in item number 3, you will be asked to submit your:

• Name

• Address

• Birth date

• Social Security number

 

5. Send all documents and information to the bureaus and wait for confirmation.  The agencies will then send you information, such as a password or security number.  Keep this piece of information in a safe place as this is very important to future credit applications.

 

Deactivating a Credit Freeze

 

If you wish to have your credit freeze removed, you’ll need to get in touch with the three bureaus as each has a different set of rules and regulations for removal applications.  

 

Should you require only a temporary lifting of the freeze, you need to:

 

1. Contact the three agencies to ask about their procedures.

 

2. Inform the agencies of how long you want the freeze to be in effect.  You need to have the security information that was given to you when you first applied for the freeze.

 

 

>> Back to Debt Consolidation Loans 2011

 

Related Pages on Debt Consolidation Loans

Consolidate Debt Loans - the Pros and Cons

Insight to Debt Consolidation Loan Programs

Low Interest Debt Consolidation Loans

Using a Second Mortgage Loan to Consolidate Debt

Debt Consolidation Loan - Debt Tips and Debunking Myths

Fixing Your Finances and Debt Consolidation Loans

Managing Student Debts - Federal Student Loan Consolidation  

Private Loan Consolidation - Facts and Strategies

Private Student Loan Consolidation and Better Management of Student Debt

School Loan Consolidation and Debt Accommodation

Student Consolidation Loan and Debt Reduction