Everything You Need To Know About the Equifax Breach

In a recently revealed breach, 143 million Americans may have had their personal information exposed.

Equifax, one of the nation’s three major credit reporting agencies, reported a massive data breach lasting several months. Hackers were able to access people’s names, Social Security numbers, birth dates, addresses and driver’s license numbers. They also stole credit card numbers of 209,000 people and dispute documents containing personally identifying information of 182,000 people.

If you have any type of credit product such as a credit card or mortgage, there’s a good chance your information is compromised. It’s best to learn all you can about this data breach and take the proper steps toward protecting yourself against future damage.

1. Find out if your information was exposed – Visit equifaxsecurity2017.com and click on the “Potential Impact” tab. Enter your last name along with the last six digits of your Social Security number to find out if you’ve been affected. Since your SSN is sensitive information, complete this step only on a secure computer that uses an encrypted network connection.

2. Sign up for free protective services – All U.S. consumers are being offered a year of complimentary credit monitoring and other services through the Equifax’s TrustedID product. Be warned, though, that the fine print of this service comes with a catch. The terms of service agreement states that enrollees must employ arbitration over civil courts to settle disputes. You may, however, decide that the benefits offered by this service far outweigh its negative fallout.

3. Place a credit freeze or a fraud alert on your files – If your information has been exposed, consider placing a credit freeze on your credit bureaus. This will make it more difficult for someone to open a new account in your name, though it won’t stop a thief from making charges to your existing accounts. Or, instead of a freeze, you can place a fraud alert on your files, warning creditors that you may have been victimized by identity theft. This alerts them to verify if someone seeking credit in your name is really you.

4. File your taxes early – If your SSN was accessed in the Equifax breach, it’s best to file your taxes as soon as you possibly can to avoid tax theft come tax time. Also, be sure to respond immediately to any letters you receive from the IRS.

Your Turn: Have you been victimized by the massive Equifax security breach? Share your experience with us in the comments!

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2 thoughts on “Everything You Need To Know About the Equifax Breach

  1. When my husband went toCredit Union on base yesterday she told him we didn’t need to do anything. I had checked & we are exposed???? Do you agreed with her?

    1. The person you talked to wasn’t necessarily wrong – there is no REQUIRED action on your part in regards to the Equifax breach, but if you’ve checked you information and you were one of the people that may have been compromised, setting up some credit monitoring would probably be a good idea.

      Most credit unions monitor for fraud already, (I know at Texoma we do) and would alert you of suspicious activity/temporarily freeze your account if they see it happening. Might be worthwhile asking them what policies/procedures they have in place for fraud?