Identity Theft News & Research www.CreditLock.com

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There is no doubt that Identity Theft is scary. Just imagine, a criminal can steal your identity, open new loan and credit accounts in your name, clean out your savings, ruin your credit history, and leave you seriously in debt, owing banks and credit card companies tens of thousands of dollars. This sounds like a nightmare, except that it is real, and it has happened to many. It is estimated that there are anywhere between 7 Million and 15 Million Identity Theft victims annually.

Wouldn’t it make sense if banks and credit card companies were required to contact you at a secure telephone number prior to issuing any new loans or credit cards in your name? Absolutely!!! That way, you can be assured that no loans are approved in your name without your own approval. There are some companies out there that are offering Identity Theft protection tools that essentially revolve around such idea, and are charging around $100 per year for such service. Guess what, this idea is nothing new, and it is known as Fraud Alerts. It has been mandated as your right under the Fair and Accurate Credit Transactions Act of 2003, and best of all, Fraud Alerts is free!
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Technorati Tags: identity theft, identity fraud, identity theft protection,  Fraud Alerts, FACTA 

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Blog www.CreditLock.com_Home Identity_Theft Credit_Freeze Credit_Monitoring Credit_Reports Do_Not_Call_List FAQ About_Us Privacy_Policy Members

Under the Fair and Accurate Credit Transactions Act of 2003 (FACTA), passed by the U.S. Congress on December 4, 2003 (link available at end of article), consumers were granted the ability to place Fraud Alerts on their credit files. Such Fraud Alerts are an important tool in fighting Identity Theft.

Unfortunately, there have been some common misperceptions about such Fraud Alerts. We examined FACTA’s Title 1, “Identity Theft Prevention and Credit History Restoration”, sections 112 to 115, in order to clarify three common misperceptions: A- whether or not the Act requires that consumers with Fraud Alerts on their file to be contacted prior to issuance of new credit, or extension of existing credit B- how consumers can place Fraud Alerts and whether they need to pay for Fraud Alerts C- whether or not Fraud Alerts prevent the issuance of new credit, or extension of existing credit.More…

Technorati Tags: identity theft, identity fraud, identity theft protection,  fraud alerts, credit report, FACTA, Fair and Accurate Credit Transactions Act,

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In a new informal poll/survey published at www.CreditLock.com , the majority of respondents voted Credit Freeze as the most valuable Identity Theft Protection tool. Such vote of confidence coincides with the July 1 expansion of effective Credit Freeze laws into Montana, New Mexico, Wyoming, Washington D.C. and West Virginia.

Respondents were asked which tool they believed is most valuable in fighting Identity Theft. Credit Freeze was selected by 59% of respondents. Credit Monitoring was selected by 14% of respondents. Fraud Alerts was selected by 14% of respondents. Opt-Out from Pre-Screened Credit offers was selected by 14% of respondents. Although the survey/poll is informal, and its sample size is small, the results emphasize the emergence of Credit Freeze as one of the most important Identity Theft Protection tools. More…

Technorati Tags: identity theft, identity fraud, identity theft protection, business, crime, security,   credit freeze, credit lock, security freeze, credit report, credit monitoring, fraud alerts, New Mexico, Montana, West Virginia, Washington D.C., Wyoming 

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Blog www.CreditLock.com_Home Identity_Theft Credit_Freeze Credit_Monitoring Credit_Reports Do_Not_Call_List FAQ About_Us Privacy_Policy Members

There have been several articles written warning parents about the risk of Identity Theft to their children. Furthermore, some companies have also offered services to protect children against Identity Theft. One such company charges as much as $25 per year for such service, as long as one adult in the same home is a regular annual paying client (paying $110 per year). The service essentially places Fraud Alerts on the client’s credit report, and renews such alerts on behalf of the customer once every 3 months. What many parents may not know is that many children do not even have a Credit Report. Furthermore, Fraud Alerts is a service that any consumer is entitled to place himself for free with the Credit Reporting companies. Even if your child does have a Credit Report, does he/she really need one? More…

Technorati Tags: identity theft, identity fraud, identity theft protection, business, crime, security, children, credit freeze, credit lock, security freeze, credit report, credit monitoring, fraud alerts 

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Blog www.CreditLock.com_Home Identity_Theft Credit_Freeze Credit_Monitoring Credit_Reports Do_Not_Call_List FAQ About_Us Privacy_Policy Members

As Identity Theft threatens the privacy, financial security, and freedom of individuals throughout the world, pro-active and prudent citizens are turning to Credit Freeze (also known as Credit Lock and Security Freeze ), Credit Monitoring and additional Identity Theft Protection measures. Does Credit Freeze ( Credit Lock / Security Freeze ), or Credit Monitoring make more sense?

In a recent informal poll conducted by GS&R and published at www.CreditLock.com, 42% of respondents indicated having neither service, while 14% of respondents indicated having both services. Meanwhile, 14% replied to having only Credit Freeze ( Credit Lock / Security Freeze ), while 28% replied to having only Credit Monitoring. GS&R points out that in reality, the percentage of individuals who…More…

Technorati Tags: identity theft, identity fraud, identity theft protection, business, crime, security, Credit Freeze, Credit Lock, Security Freeze, Credit Monitoring, Fraud Alerts, Credit Reports 

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