Pub. 1 2019 Issue 1

Credit Freezes & Fraud Alerts PETER MCNAMARA PRESIDENT, NHADA AND AFFILIATES EXECUTIVE DIRECTOR, NEW HAMPSHIRE AUTOMOTIVE EDUCATION FOUNDATION B eginning in September of 2018, consumers are eligible to place a freeze on their credit and place a one–year fraud alert for free. For dealerships, this means your staff will need to be prepared to advise consumers how to lift their freeze if the consumer needs to secure credit to purchase the vehicle. The following information is a combination of info from NHADA and that taken from the FTC.gov website (https://www.consumer.ftc.gov/ articles/0497-credit-freeze-faqs ). What is a credit freeze? Also known as a security freeze, this free tool lets you restrict access to your credit report, which in turn makes it more difficult for identity thieves to open new accounts in your name. That’s because most creditors need to see your credit report before they approve a new account. If they can’t see your report, they may not extend the credit. Can anyone see my credit report if it is frozen? Certain entities still will have access to it. • your report can be released to your existing credi- tors or to debt collectors acting on their behalf. • government agencies may have access in response to a court or administrative order, a subpoena or a search warrant. How do I place a freeze on my credit reports? Contact each of the nationwide credit bureaus: Equifax Equifax.com/personal/credit-report-services 800-685-1111 Experian Experian.com/help 888-EXPERIAN (888-397-3742) Transunion TransUnion.com/credit-help 888-909-8872 You'll need to supply your name, address, date of birth, Social Security number and other personal information. After receiving your freeze request, each credit bureau will provide you with a unique PIN (personal identification number) or password. Keep the PIN or password in a safe place. You will need it if you choose to lift the freeze. D R I V E 12