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State Representative Leon Lillie
100 Rev. Dr. Martin Luther King Jr. Blvd.
651-296-1188
For more information contact: Christina Gosack 651-296-5524
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Rep. Lillie Reports New Law Can Help Consumers Minimize Risk of Identity Theft
State Representative Leon Lillie (DFL - North St. Paul/Maplewood) reports that beginning August 1st, Minnesotans will have a new tool to protect themselves from identity theft. A new law co-authored by Rep. Lillie allows Minnesotans to place a security freeze on distribution of their credit reports.
"When you place a freeze on your credit report, banks or credit card companies see that when they go to search your credit record to open a new account," said Lillie. "If someone tries to open an account in your name, they won't be able to."
The credit reporting agencies will issue you a personal identification number (PIN) when you place the security freeze. If you need to apply for credit yourself or have a credit check done, you can temporarily lift the freeze using your PIN.
Placing a security freeze on your credit report is considered one of the best protections against identity theft available. Minnesota is one of only twelve states to pass such a law.
"Many of us are doing more and more of our shopping and banking online, which is convenient, but also brings an increased risk of identity theft," explained Lillie. "Putting a freeze on your credit should give you a little extra peace of mind."
How to Place a Security Freeze on Your Credit Report
§ To place a freeze your credit report, you must contact each of the three major credit reporting agencies and provide your personal information. Each agency has a slightly different procedure for consumers to freeze their credit.
Equifax www.equifax.com or call 1-888-766-0008
Experian www.experian.com or call 1-888-397-3742
TransUnion www.transunion.com or call 1-800-888-4213
§ The three credit bureaus will assign a personal identification number when you place a freeze on your report. To allow access to your credit report for an employer background check or to apply for a loan, you must use your PIN to lift the freeze.
§ Credit reporting agencies will charge $5 to place the security freeze and $5 to temporarily lift the freeze. Those who are victims of identity theft are exempt from the charge. It may take up to three days to lift a freeze on your report.
§ Whether or not you place a freeze, monitor your credit frequently to check for suspicious activity. You are entitled to one free annual credit report from each of the three major agencies. To request a free credit report visit www.annualcreditreport.com or call 1-877-322-8228.
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