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Credit freeze to be free
Submitted by bniolet on 2009-07-16 15:40Soon, North Carolina residents might be able to ward off possible identity theft by freezing their credit for free.
The legislature gave final approval Thursday to a bill that forces the three major national credit rating bureaus to "freeze" a consumer's credit free of charge, Mandy Locke reports. Previously, only victims of identity theft could get this done at no cost. All others paid $10 a pop with the three bureaus.
The bill will now be presented to the governor for her approval.
A freeze essentially prevents creditors and other vendors from issuing credit in your name or with your social security number. Those who get a freeze can temporarily lift it if they want to secure a credit line, but it can only be done with their permission.
The bill also allows county Registers of Deeds and Clerks of Court to remove consumers social security number from their websites. Businesses will now be required to report security breeches to the state Attorney General's office, not just when it affects more than 1,000 people or more. The bill also blocks creditors from reporting the debt of identity theft victims to credit rating bureaus.
