Florida Consumer E-Newsletter - July 2006
Download PDF version [979K PDF]
A Message From the Commissioner...
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Dear Friends: Identity theft is on the rise. The Federal Trade Commission reports that in 2005 Florida ranked number six in the nation for instances of identity theft. With that in mind, consumers must be vigilant in the protection and monitoring of their credit profile. Identity thieves can use your stolen information to create new accounts or modify existing accounts without your knowledge. |
When you apply for a loan, credit card, cell phone, or even home utility service, the company issuing the credit will contact one of the three credit reporting agencies and request to see your credit file. Florida law now has measures in place to ensure that you have more control over who is accessing your credit files. I encourage everyone to take a proactive approach when it comes to keeping your identity safe. Good credit is one of the most important attributes a consumer can acquire. For more consumer information about identity theft and how to keep your information safe visit us online. You can also contact our consumer hotline at 1-800-HELP-FLA (435-7352) calling within Florida, 850-488-2221 calling outside of Florida, or 1-800-FL-AYUDA (352-9832) en Español, for additional information. Sincerely, |
A new tool is now available to Floridians to help combat identity theft. As of July 1, 2006, Florida residents have greater control over who accesses their credit by placing a “security freeze” on their credit files. With a security freeze, credit bureaus are unable to disclose your credit score, credit history or any other credit information without your permission. Your credit file would be off limits to potential lenders, insurers and even future employers.
To freeze your credit files, you must contact each of the three major credit bureaus/credit reporting agencies (Equifax, Experian and TransUnion) in writing by certified mail. Each of the three credit bureaus has their own policies and procedures for implementing a security freeze; however, Florida law (s.501.005, F.S.) places standards on their costs and requirements.
Each credit bureau may charge a fee of up to $10 to place, temporarily lift or remove a security freeze. The fees may be waived if you meet certain requirements. You can access a full description of the requirements online or by calling our consumer hotline at 1-800-HELP-FLA (435-7352). If you are age 65 or older there is no charge to initially place or remove a security freeze. In addition, if you have become a victim of identity theft prior to the security freeze request and you have filed an identity theft report with a law enforcement agency, this fee may also be waived.
In order to obtain any new credit, consumers with a freeze must have it lifted (either temporarily or permanently) to grant creditors access to their credit file – also known as thawing. While this may be a hindrance to some by cutting off instant credit checks, it will provide a defense against identity theft and the potential destruction an identity thief can cause to your credit profile. A temporary lift will allow you to preplan your credit transactions and release your data for a designated timeframe. Once the credit bureau receives all your required information (including your PIN –Personal Identification Number– assigned to you by the credit bureau issuing the security freeze) they are allowed up to three business days to fulfill your request.
Your security freeze will remain in place until you request the freeze to be removed. Again you must provide specific information to each credit bureau that has a freeze in place including your PIN that was given to you by that specific credit bureau. Each of the credit bureaus has its own policies and procedures for removing a security freeze so make sure to review each credit bureau’s information thoroughly.
It is important to keep all documents and information relating to your security freeze in a safe place. If you lose your assigned PIN, the credit reporting agencies are allowed to charge up to $10 to reissue or reassign a PIN to you.
Even if you have placed a security freeze on your files, certain companies or entities may still have access to your credit data. Any entity that you have an existing account with, that requests information in your report for the purposes of reviewing information, account maintenance and upgrades/enhancements to name a few. This also includes collection agencies or those working on their behalf and any state or local law enforcement agency investigating a crime or conducting a criminal background check.
Keep in mind that security freezes are designed to prevent credit reporting companies from releasing your credit report without your consent. However, you should be aware that using a security freeze may delay, interfere with or prohibit the timely approval of any subsequent request or application you make regarding a new loan, credit, mortgage, insurance, government services or payments, rental housing, employment, investment, license, cellular telephone, utilities, digital signature, Internet transaction or other services, including an extension of credit at point of sale.
You can request free literature by mail, give us a call today at 1-800-HELP-FLA (435-7352) within Florida, 850-488-2221 outside of Florida or 1-800-FL-AYUDA (352-9832) en Español.
Additional Resources
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Florida Statute s.501.005 - Credit Report Security Freeze
Credit Report Security Freeze - Frequently Asked Questions (FAQs)
We have compiled some FAQs about the new security freeze legislation. This is for information purposes only and should not be used as legal advice. For a complete understanding of the law, please read the full statute.
The links below are for your information only. The goal of the Division of Consumer Services is to provide additional information to consumers. The Florida Department of Agriculture and Consumer Services does not review or confirm these sites for accuracy.
Equifax
The Fair Credit Reporting Act (FCRA) is a federal law that regulates how credit reporting agencies use your information.
Experian
Here you will find information about Experian's policies and procedures on credit report security freezes.
TransUnion
Here you will find information about TransUnion's policies and procedures on credit report security freezes
