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Protect Your Credit After Equifax Security Breach

By Cathy Moran

EQUIFAX data breach

Half the US population may be affected by the hacking of credit reporting agency Equifax.  I’m in that group along with 143 million other Americans.

Stolen were names, addresses, dates of birth, and Social Security numbers.  Some credit card numbers were also lifted.  Everything an identity thief needs to ruin your financial life.

Check if your info was exposed

Equifax is offering a year of free credit file monitoring to all US consumers.  The wrinkle is that you need a reservation to enroll.  Mine is five days from now.

You must enroll before November 21, 2017.

So, relief is not immediate.  And since the break-in took place as much as 4 months ago, damage may already have been done.  And once this information is loose in the world, your exposure will persist for years.

More importantly, signing up for the credit file monitoring waives your right to participate in any class action filed as a result of the data breach.

More on alternative approaches to problem.

UPDATE:  Equifax now says credit monitoring offer won’t bar law suits

What to do

Get a copy of your credit report for free from annualcreditreport.com.

Review carefully your credit card statements and bank activity for transactions you can’t identify.

Spotting identity theft- tips from the CFPB

Spread the word.  I’m starting with my 89 year old mother who would otherwise struggle figuring out that she’s at risk.

More

Scam alert: the warrant for your arrest

Damaged credit heals

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Filed Under: Featured Tagged With: 2017

About Cathy Moran

I'm a veteran bankruptcy lawyer and consumer advocate in California's Silicon Valley. I write, teach, and speak in the hopes of expanding understanding of how bankruptcy can make life better in a family's future.

About The Soapbox

You've arrived at the Bankruptcy Soapbox, a resource of bankruptcy information and consumer law.

Soapbox is a companion site to Bankruptcy in Brief, where I try to be largely explanatory and even handed (Note I said "try").

Here, I allow myself to tell stories and express strong opinions on how I think law should work for the consumer and small businesses when it comes to debt.

Moran Law Group
Bankruptcy specialists for individuals and small businesses in the San Francisco Bay Area

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