Credit Freeze             Click here to Print

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#Frozen - Says,

I want to go for a credit freeze. Will that stop further creditors to inquire on my report?

I am in fact doing this for presumed identity theft. Any help will be appreciated.
Thanks Smile

#Laura - Says,

Hi,
Welcome to the community.

There are restrictions on credit freeze and it varies state wise. Some states do not allow credit freeze whereas in certain states it is restricted to the identity theft victims only. I need to know which state you are from.

New creditors wont be able to do a credit check during a credit freeze. It is advisable that you unfreeze you credit file three days before you apply for a credit.

#Frozen - Says,

I am from Illinois
#Magician - Says,

Hi Frozen, Smile
It is definitely possible for you to freeze your account. Be careful though. Remember to lift the freeze before you apply for some credit.

Thanks
Linda

#carol - Says,

Hi,
It is definitely possible for you to do a credit freeze. It is allowed in Illinois.
If you do so nobody will be able to open any account on your name. Therefore you will be safe from fraud.

You can always do a lift in case you want to open a credit account or if you want to take a loan. You can lift it for a specific creditor also. Smile

#Laura - Says,

Hi Frozen,
I agree to what Carol said. I would like to add some more information.

a) Write a letter to the CRA mentioning your personal details that you want to freeze your account and on what purpose.
b) The credit bureau must put a freeze within five business days of receiving your letter of request.
c) The credit bureaus will send you a PIN (Personal Identification Number)
d) They will also instruct you as to how you will use the PIN to freeze and unfreeze your credit file.
e) You can lift the freeze through the phone
f) The lift must be done within three days from the time they are informed.
g) You can always order your credit report even if your account is frozen
h) Try to freeze your credit file (if you do so) with all the three bureaus because different creditors or enquirers access it from different bureaus.
i) Credit freeze does not lower or affect your credit score.

Hope this helps

Thanks Smile

#Frozen - Says,

That was help Smile. I have done it. let me see. How long does a freeze stay Question
The best part is that it doesnt lower my score. Very Happy

Thanks All Cool

#Laura - Says,

The freeze remains till you request it to be removed permanently.

Also a creditor cannot see your file during the freeze. This is applicable as long as they are not exempted from the SOL.

#carol - Says,

HI Frozen,

Always put your request for the freeze to all the three credit reporting agencies i.e. the Experian, Transunion and the Equifax. These are the major agancies but there are definitely more.

#anthony - Says,

You can personally access your credit file or let someone access it by temporarily thawing the account i.e. lifting the freeze. It takes three days from receiving your request to thaw the file.

The CRA can charge upto $10 for this service. This depends and there are certain exemptions as well.

Good Luck
Anthony

#Laura - Says,

I am giving the exemptions here. The fees are waived off in the following cases:

*f you are 65 and more the intial placement or removal of the freeze is waived off
*If you have been a victim of ID theft and have legal documents stating so

Again incase you lose your PIN or password, the CRA can charge you upto $10 for the reissue.

#sdchargers_63 - Says,

A few years ago, I had my wallet stolen. Checks, debit card..all of it!! I called the Credit Bureau to report this. They 'froze' my CR's for 6 months and put an 'alert' out. During this time, I applied for a $500.00 'line of credit' through a company, near my home. I forgot the 'freeze' was on there and this company COULD NOT get into my CR. Also.....while your CR's are 'frozen', if anyone tries to look at it, the Credit Bureau will send you a 'letter' ( via e-mail) and let you know. If you want to 'accept' lender, etc, to look at your CR, you can tell the Credit Bureau via e-mail.
#Laura - Says,

It is very important to keep track of the status of your credit file. Especially a freeze should be lifted before you allow someone to take a look into your credit file, otherwise it might create a bad impression. However the bureaus the email service....which is good of course.
#sdchargers_63 - Says,

When I put the 'freeze', on my account, i was able to tell the Credit Bureau WHY I needed a freeze. Soo..... what the Credit Bureau did was made it a 'written statement', on my CR. I mean, when I had 'inquries', and couldn't get into mu CR, a statement popped up, on the file saying, " File frozen-Identity theft".. ( or something to that effect).
#Laura - Says,

That is good. Atleast in that way people with wrong intentions cannot access your file as well. Just be sure to lift the freeze atleast three days before you know the inquiry is going to/intended to take place.
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