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What to do after Equifax breach

22 September 2017

The FTC advises consumers to file taxes as soon as you have the tax information you need.

- Click on the potential impact button.

Available directly from Equifax's own site, it asks you to input your last name and the last six digits of your social security number.

Over the past several years, numerous major data breaches have resulted in the theft of personally identifiable information (PII) affecting millions of people.

Some have pointed out that the tool does appear to work better at some times rather than others.

- You will either be told that you are potentially a victim or that your information was not compromised. Unfortunately, there might be very little Congress can do in way of penalty other than to shame the executives, whose response will be a litany of variations on "we complied with all regulations". In such cases, you gave up your financial privacy and received nothing of value (unless you really wanted the credit card offered).

Consumers who made a decision to place a credit freeze on their accounts in the wake of the massive hack of credit reporting firm Equifax may have a new issue to worry about, as security researchers are pointing out a vulnerability at Experian that could allow anyone to gain access to an individual's credit freeze personal identification number (PIN).

Initially, the terms and conditions of the service suggested that those who enroll might waive their right to sue over the cybersecurity breach, either individually or as a class. The FCRA is meant to ensure that the information Equifax and its competitors provide is accurate and kept private.

We start with a credit lock. "You can't be protected against data breaches, as yesterday proved". The average American household has $137,063 in debt, with an average of $1,300 in payments per household per year for credit card interest alone according to NerdWallet.

Democrat Ron Wyden of OR has just introduced the Free Credit Freeze Act in the wake of the Equifax breach. The credit reporting agencies will argue that many consumers benefit from unsolicited credit card offers because they would not otherwise learn of their availability. Once signed up, you'll be given an enrollment date for when your protection will officially begin.

If I knew I was affected, I'd take steps to protect myself, like freezing my credit, you say.

If you would like to monitor your credit to prevent identity theft and see your credit report and score for free within minutes, check out our credit monitoring service.

I understand if people who place freezes on their credit files are prone to misplacing the PIN provided by the bureaus that is needed to unlock or thaw a freeze. Many consumers have put a freeze on their credit in light of the massive Equifax data leak. You also can consider a credit monitoring service, which is different than a credit freeze.

About half of all South Carolinians are affected by the recent security breach at the credit monitoring agency Equifax. This will make it harder for someone to open new credit in your name.

Description: Cyber criminals often sell stolen personally identifiable information on the "dark web", a constantly changing array of websites only accessible by a specialized Internet browser.

Turns out Equifax isn't the only credit reporting agency with garbage security, which probably shouldn't come as a surprise at this point. Although that's a good idea in general, doing so now is more important than ever. If you are ever concerned that some of your details have been compromised in other hacks, the HaveIBeenPwned website is a great resource to find out.

What to do after Equifax breach