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Equifax changes fine print for TrustedID Premier free credit monitoring

Equifax changes fine print for TrustedID Premier free credit monitoring

The hackers gained access to important information belonging to 143 million USA consumers after exploiting a vulnerability on the company's website.

Smith wrote in its statement that Equifax expects to complete its investigation in the next few weeks. That detail, which has gotten a little overblown in its rounds on social media, has inspired nearly as much anger as the hack itself.

"You need to take more action", one consumer wrote on Twitter to Equifax. But there's still plenty of problems. However, Equifax clarified that the arbitration clause refers to the Trusted ID product and not any lawsuits dealing with the data breach. At first, the terms and conditions included arbitration language that indicated anyone who enrolled would give up their right to sue the company. If someone else goes to take out a loan in your name, the lender will not be able to pull your report and therefore can not extend the credit.

Go to Equifax.com and click on the link there that will allow you to check whether your information was hacked.

But credit freezes aren't free: They typically cost between $5 to $10 each.

Suppress Fraudulent Info. While you can dispute run-of-the-mill credit report inaccuracies, it's best to use a process called "suppression" / "blocking" to get rid of negative info resulting from identity theft.

Saakashvili breaks through into territory of Ukraine
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"I would say any of the credit reporting agencies; I would consider it the mother-load of data for someone who wants your data", he says.

The Bureau of Consumer Credit Protection, which administers the Fair Credit Reporting Act in ME, issued a news release Friday afternoon encouraging people to take the breach seriously and consider basic steps to protect their identify, financial accounts and credit reports. Each company will require you to file documents requesting a credit freeze and they may also have you pay a fee for the action. The executives probably will avoid punishment because the company quickly put out a statement saying they were unaware of the breach.

Finally, be aware that phishers and scammers are sure to take advantage of this breach, so be careful when assessing communications that seem to be coming from Experian or, in general, make reference to the breach. Credit bureaus like Equifax are lightly regulated compared to other parts of the financial system.

Another way to protect yourself is by immediately placing fraud alerts on your credit reports, according to credit expert John Ulzheimer, who previously worked at FICO and Equifax. Within four days of the hack, however, a number of high-up Equifax executives, including Equifax Chief Financial Officer John Gamble; President for US information solutions Joseph Loughran; and President of workforce solutions Rodolfo Ploder sold shares at high prices.

Equifax has developed a comprehensive portfolio of services to support consumers determine if their data has been affected.

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