It is easier for New Yorkers to block unauthorized access to their credit files, thanks to a new law that went into effect last month. The New York Security Freeze Law gives consumers the option to put a block on their credit files, which will prevent lenders and credit card companies from getting access to the information; If someone tries to use your identity, the lender will not be able to get a copy of your credit history and will likely refuse to open an account. The down side is the freeze will also prevent a person from borrowing money or getting a new credit card for themselves.
However, a person can temporarily lift or permanently remove the freeze from their credit file. There is no charge for a Security Freeze if you are a victim of identity theft or you're making the request for the first time. But there may be a $5 fee for additional request. If you want to freeze your credit file, a letter needs to be sent by certified mail to all three major credit agencies: Trans Union, Experian, and Equifax.
Because of increases in Identity Theft, this is information that I think benefits everyone.
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