Lynn Leegard, Owner and President of TrustFunds, is extremely passionate about avoiding identity theft. She said, “I personally experienced someone’s attempt to steal my identity and open an account in my name. Fortunately, I had taken steps to protect myself and the bad actors were not successful. As a result, I care deeply about educating EVERYBODY beyond the TrustFunds transaction”. Identity theft is when someone uses your financial and personal information without your permission, ultimately damaging your credit status and putting yourself in legal jeopardy. According to Javelin’s Internet Fraud Study, losses from identity fraud totaled $43 billion in 2022, affecting 40 million U.S. adults.
You can protect yourself by activating a “freeze” or “lock” option with the three major credit bureaus (Equifax, Experian, and TransUnion). A credit freeze, or security freeze, is a FREE option that lets you limit unauthorized access to your credit report, preventing others from opening accounts in your name. You’ll need to “thaw” or lift the freeze each time you apply for credit; however, many people feel the benefits outweigh the small inconvenience. There are also paid credit “lock” subscriptions available including a number of identity theft protection tools. Overall, both credit freezes and credit locks can be effective tools for protecting your identity and the choice between the two depends on your personal preferences and needs.
Quick Resources for a FREE credit freeze:
- Equifax Consumer Service Center or call 800-349-9960
- Experian Credit Freeze or call 888‑397‑3742
- TransUnion Credit Freeze or call 888-909-8872
At a minimum, freezing the three major bureaus should be a top priority; however, there are a few lesser-known organizations worth considering.
- ChexSystems is a service many banks use when checking credit before opening new bank accounts– ChexSystems Online Security Freeze or call 800-428-9623
- Innovis is another credit bureau many consumers miss when freezing credit reports– Innovis Online Security Freeze or call 866-712-4546
- National Consumer Telecom & Utilities Exchange (NCTUE) is a credit reporting agency association within the utility industry– NCTUE (Exchange Service Center) Online Security Freeze or call 866-349-5355
It can take months and years to fully recover financially from identity theft – don’t wait until it’s too late! TrustFunds cares about you and your financial health!
Use our handy Protect Yourself from Identity Theft flyer to share with colleagues, clients, friends, and family.