Where does the time go? It’s already 2018 but we can’t just forget about all the things that happened in 2017. Like a massive data breach. You remember, the Equifax one that exposed the Social Security numbers, address and credit information for over 145 million people.
That means, more than half the country’s adult population had their personal information stolen. It’s been three months since we learned of the hack and you might be one of the many Americans who opted for the company’s fraud alert protection. Well, that protection is expiring and you need to figure out your next steps.
In September, Equifax admitted a major hack to their system. Many people, in an effort to protect their information, placed fraud alert on their TransUnion, Equifax and Experian credit reports. The alert requires lenders to contact you to determine if any new credit application is valid.
It’s a good protection but, here’s the catch. The fraud alert expires every 90 days. So, if you got it in September when the breach first happened, you need to do it again in late December or early January. And, then you would need to do it again, and again.
So, there’s two other options. A credit freeze or a credit lock.