Class-action lawsuits filed against Equifax following massive data breach

Thursday, 14 Sep, 2017

You can still use your cards, and a little leg work will lift the freeze if you do find you need a line of credit.

Does a credit freeze affect my credit score?

Remember, monitoring your report will not lower your credit score. But you should think twice before firing up your own legal vendetta. "This is a company that's in the business of protecting people's data and charging for it, so a breach here is not merely peripheral, as in virtually all of the other cases, but core to its business model", Korsinsky said. This way, you can keep tabs on your credit history and score every four months at no cost. Several readers said they received error messages there, too, when they tried to get a copy of their report. Whether there are laws against how the company as a whole - and those three executives - is unclear.

You are entitled to a FREE report from each agency at least once per year.

Equifax Canada did not immediately respond to requests for comment.

Do not contact the three nationwide credit reporting companies individually.

- Sign up for the free credit monitoring that Equifax is offering.

How do you dispute an error?

But for those who don't feel comfortable with the way the credit reporting agencies are handling their treasure trove of personal information, a notification to the agencies and day or so delay may be a fair price to pay for added security. Just because you've reported an incident of identity theft, it doesn't mean it won't happen again.

Equifax set up a special website to assist customers with finding out if their information was leaked or stolen, and what to do if such actions are confirmed.

The free service was originally created to help appeal against parking or speeding tickets by selecting the right letter that corresponds to the user's issue. This free report does not count as your ANNUAL FREE report.

Here are just some of the other questions I've asked Equifax. While financial institutions, including credit unions, have been subject to federal standards on data security since the passage of the Gramm-Leach-Bliley Act, retailers and many other entities that handle sensitive personal financial data are not subject to these same standards. How can you protect yourself against this?

Once a year, obtain a copy of your Social Security statement and make sure it looks all in order.

"The mere fact that Equifax leaked your information does not necessarily cause you harm", says Sunderlin. If you're not planning to buy a auto, a house, take out a loan anytime soon or open a card at Nordstrom, freeze your credit so no more accounts can be opened in your name. "Enemy nation states build databases of Americans that they then use to get to their targets, for example a network operator at a power grid, or a defense contractor at a missile defense company".

In an Op-Ed published by USA Today, Equifax Chairman and CEO wrote about the company's decision to delay the announcement of the data breach for so long, suggesting that the company originally thought the data breach and its impact was "limited" in its scope.

Citing the 2017 Verizon Data Breach Investigations Report, the letter noted that the financial services industry accounts for 24.3 percent of all data breaches while retail represents only 4.8 percent.

Scott Nelson, an attorney with the advocacy organization Public Citizen, remained skeptical about the bot's usefulness, telling the Verge that prevailing in small claims court is more complicated than filing paperwork.