Thinking Of A Credit Freeze? Think Again.....
Minnesota passed a new law allowing residents to place a credit freeze or security freeze on their credit reports. The idea is simple, freeze the credit report so no one can extend credit without you unfreezing the credit report. Charge a small fee each time you freeze and unfreeze your credit report to prevent fraud and ID Theft. The part about a credit freeze you need to think through is that unlike placing a fraud alert on your credit report, the credit reporting agencies are not going to share with each other that you've placed a credit freeze on your report. This means that you will need to send mail to each credit reporting agency along with the fee to place the fee on your credit report. When seeing out credit you will need to know which credit reporting agency your lender will obtain your report from and then contact that agency to unfreeze your credit report. To some this complexity may be worth it but it's clearly not as easy as it may sound to manage your credit freeze.
posted by beer234 @ 12:21 PM
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