Equifax Data Breach

[racemize]

I just sent this out to a bunch of people in email and figured I might as well post it here:

 

Equifax has had a massive data breach, which you can read about here:

https://www.bloomberg.com/news/articles/2017-09-07/equifax-says-cyber-intrusion-affected-143-million-customers

 

If you go to this website:

https://www.equifaxsecurity2017.com/

 

You can check and see if you were potentially impacted (the answer is probably yes) by clicking the "Potential Impact" button at the bottom.  I think in any case, it is worth clicking the "Enroll" button, which gives free identity protection services paid for by Equifax. 

 

Once enrolled, it probably makes sense to do one or more of these (this is from the FAQ):

A consumer does not need to choose a single option. We recommend choosing the ones that best suit your credit activity. The various options are more fully described below.

 

Fraud Alert: A fraud alert is a notification you may request that a nationwide consumer reporting agency place on your credit report that warns creditors that you may be a victim of identity theft. Think of a fraud alert as a “red flag” for those third parties that may consider extending you credit. Fraud alerts are free, and will still allow third parties access to your credit reports – however, if there is a fraud alert on your credit report, third parties will be encouraged to take certain steps to verify your identity before extending you credit. Once you place a fraud alert with one nationwide consumer reporting agency, it will be automatically placed with the other two nationwide consumer reporting agencies.

 

Security Freeze: A security freeze prevents new creditors from accessing your credit report unless you lift or remove the freeze, either temporarily or permanently. The nationwide consumer reporting agencies may charge consumers for placing or removing freezes depending on state law. You will need to contact each nationwide consumer reporting agency to place or remove a security freeze.

 

File Lock: An Equifax credit file lock is similar to a security freeze and allows you to lock access to your Equifax credit report. Lenders cannot access your Equifax credit file to open new accounts unless you unlock your file. However, when you lock your Equifax credit file, it does not lock your credit file at the other two nationwide consumer reporting agencies. The lock feature is available within the complimentary TrustedID Premier product Equifax is making available to U.S. consumers.

Please note that you can have either a security freeze or Equifax credit file lock on your Equifax credit report, but not both.

 

 

Also, while you may be aware of how most identity theft happens (signing up for credit cards, buying expensive phones, etc.), I just heard about another way where they may file taxes with the IRS to get a refund, which is a giant headache.  So, just something to look out for as the next tax season rolls around.

[oddballstocks]

If you enroll you lose your right to sue or be part of a class action lawsuit.

[racemize]

If you enroll you lose your right to sue or be part of a class action lawsuit.

 

Yeah, I just read that.  I think you can still opt out after that.

Right to Opt-Out of this Arbitration Provision. IF YOU DO NOT WISH TO BE BOUND BY THE ARBITRATION PROVISION, YOU HAVE THE RIGHT TO EXCLUDE YOURSELF. Opting out of the arbitration provision will have no adverse effect on your relationship with Equifax or the delivery of Products to You by Equifax. In order to exclude Yourself from the arbitration provision, You must notify Equifax in writing within 30 days of the date that You first accept this Agreement on the Site (for Products purchased from Equifax on the Site). If You purchased Your Product other than on the Site, and thus this Agreement was mailed, emailed or otherwise delivered to You, then You must notify Equifax in writing within 30 days of the date that You receive this Agreement. To be effective, timely written notice of opt out must be delivered to Equifax Consumer Services LLC, Attn.: Arbitration Opt-Out, P.O. Box 105496, Atlanta, GA 30348, and must include Your name, address, and Equifax User ID, as well as a clear statement that You do not wish to resolve disputes with Equifax through arbitration. If You have previously notified Equifax that You wish to opt-out of arbitration, You are not required to do so again. Any opt-out request postmarked after the opt-out deadline or that fails to satisfy the other requirements above will not be valid, and You must pursue your Claim in arbitration or small claims court.