Econ Equifax breach

Mac11FA · Sep 14, 2017

So, the news reported that Equifax had a major breach. More than 143 million people had their ss#, DOB, address and credit cards stolen in the largest data grab in history. Clarke Howard recommends you place a credit freeze with all three credit agencies and of course Equifax is waiving the $3 fee the normally charge for this.

My 1st concern is should I go through placing my credit on hold to protect myself? I mean, the info is out there and criminals will do what they do. Chances is by the time this was reported my info could have already been used or sold.

My 2nd concern is this. You have 3 agencies responsible for providing credit data on your behalf. I never understood this as they essentially report the same info. If one of them is breached, why would you have to contact each of them separately to place a credit freeze on yourself?

This is a major embarrassment for Equifax and honestly they should pay for your fees to the other agencies should you choose to contact them and go through the credit freeze process.

I would like to hear what what you think about this and what you plan to do.

Willy Leadwell · Sep 14, 2017

Clark Howard also recommended just getting credit karma and NOT taking equifax up on their offer of 1 year free credit monitoring.

I've been using credit karma for years and it's phenomenal. Truly free, they do not ask for a credit card. They offer a lot of other services as well. Easy electronic disputes, spending tracker where you can link your bank accounts and it will categorize your spending to help with budgeting.

I messed up my credit when I was younger(the ex is mostly to blame for that) and credit karma was the most valuable tool For getting me where I am today.

I'm just turning on alerts now so that I'll know immediately if something happens. Shit like this is gonna happen as we get more and more dependent on technology.

Balthaz · Sep 14, 2017

I was involved in that breach.
Right now I am Freezing all of my credit files at all of the big three.
And I also called my credit card companies and they are all sending me new cards.
I am pissed at equifax for their stupidity and lack of keeping the bad guys out of their computers.
But as of now all we can do is freeze our credit files at all of the credit companies.
And I agree why do I have to contact all three to put a freeze on my credit, equifax should pay and do this for me.

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erkinator 2 · Sep 14, 2017

Mac11FA said:
So, the news reported that Equifax had a major breach. More than 143 million people had their ss#, DOB, address and credit cards stolen in the largest data grab in history. Clarke Howard recommends you place a credit freeze with all three credit agencies and of course Equifax is waiving the $3 fee the normally charge for this.

My 1st concern is should I go through placing my credit on hold to protect myself? I mean, the info is out there and criminals will do what they do. Chances is by the time this was reported my info could have already been used or sold.

My 2nd concern is this. You have 3 agencies responsible for providing credit data on your behalf. I never understood this as they essentially report the same info. If one of them is breached, why would you have to contact each of them separately to place a credit freeze on yourself?

This is a major embarrassment for Equifax and honestly they should pay for your fees to the other agencies should you choose to contact them and go through the credit freeze process.

I would like to hear what what you think about this and what you plan to do.

Had mine frozen for 7 years now. Piece of mind.

erkinator 2 · Sep 14, 2017

wonder if the breach thawed my freeze and now I need to re-freeze it.

Mac11FA · Sep 14, 2017

erkinator said:
wonder if the breach thawed my freeze and now I need to re-freeze it.

Nope, if you have the freeze on with all 3 agencies, then most likely your info was stolen but will not be able to be used because of your credit freeze. If you only have freeze with Equifax, then you are wide open to the other two agencies.

Mac11FA · Sep 14, 2017

Willy Leadwell said:
Clark Howard also recommended just getting credit karma and NOT taking equifax up on their offer of 1 year free credit monitoring.

I've been using credit karma for years and it's phenomenal. Truly free, they do not ask for a credit card. They offer a lot of other services as well. Easy electronic disputes, spending tracker where you can link your bank accounts and it will categorize your spending to help with budgeting.

I messed up my credit when I was younger(the ex is mostly to blame for that) and credit karma was the most valuable tool For getting me where I am today.

I'm just turning on alerts now so that I'll know immediately if something happens. Shit like this is gonna happen as we get more and more dependent on technology.

Yep, good old Clark Howard. He also has instructions and links on his site to contact the big three to place freeze on.

As far as Credit Karma, So, do they just alert you when something happens? Doesn't that mean it is then up to you to contact the lender and let them know it was not you who tried to get credit or whatever?

NWS · Sep 14, 2017

mine has been frozen for several years and I use credit karma. @PewPewPewCo mentioned that it might not be a good idea to take them up on their offer to monitor since it very well may waive your right to sue.

This very well may kill Equifax. Their stock price is in freefall.

Mac11FA · Sep 14, 2017

NWS said:
mine has been frozen for several years and I use credit karma. @PewPewPewCo mentioned that it might not be a good idea to take them up on their offer to monitor since it very well may waive your right to sue.

This very well may kill Equifax. Their stock price is in freefall.

I think it was the program to help with credit monitoring that caused the breech! I would never use a credit reporting agency to monitor my credit anyway!

Mac11FA · Sep 14, 2017

Anyone use LifeLock???

Willy Leadwell · Sep 14, 2017

NWS said:
mine has been frozen for several years and I use credit karma. @PewPewPewCo mentioned that it might not be a good idea to take them up on their offer to monitor since it very well may waive your right to sue.

This very well may kill Equifax. Their stock price is in freefall.

It does wave your rights, if I recall that's one of reasons Clark Howard cited for not using their service. I'd be surprised if there wasn't a class action lawsuit brewing already. In 6 years we'll each get a check for $1.78 and some law firm will rake in $36 billion.

cbh13 · Sep 15, 2017

im not panicking too bad about this. I also use credit karma and look at it almost daily and have all of my alerts on. I sure as hell am not using Equifax's service and opting out of the suit as that's exactly what they want. btw folks have now made sites that set up a suit against them for you automatically for free and from my understanding a small clams suit does not bar you from any class action suit.

https://finance.yahoo.com/news/new-website-lets-automatically-sue-equifax-click-214730288.html

EugenFJR · Sep 16, 2017

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Econ Equifax breach

Mac11FA

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Willy Leadwell

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Balthaz

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erkinator 2

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erkinator 2

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Mac11FA

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NWS

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Mac11FA

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Mac11FA

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Willy Leadwell

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