by Judy Corbus | Oct 10, 2017
Photo credit: Judy Corbus
The recent security breach at Equifax from mid-May through July 2017 exposed the personal information of 143 million people; this included Social Security numbers, birth dates, addresses, and driver license numbers. You may be wondering, “Am I affected?” and, if so, “What should I do now?”
First, find out if your information was exposed at https://www.equifaxsecurity2017.com/potential-impact/. Make sure you are on a secure computer and an encrypted network connection. Even if your information was not exposed, U.S. consumers can get a year of free credit monitoring and other services. The site will give you a date when you can come back to enroll. Write down the date and return to the site and click “Enroll” on that date. You have until November 21, 2017 to enroll.
Order your free credit reports annually through the federally authorized web site www.annualcreditreport.com. You are allowed one free report every 12 months from each of the three major credit reporting agencies: Equifax, TransUnion, and Experian. Your credit reports will provide a detailed history that may better alert you to credit fraud.
Consider a credit freeze. A credit security freeze prevents credit reporting agencies from releasing your credit report or information from it, with a few exceptions, unless you lift the freeze. A credit freeze prevents identity thieves from opening new accounts in your name but it won’t prevent a thief from making charges to your existing accounts. It also does not prevent non-credit related frauds, such as tax refund identity theft and health insurance fraud. For these, consumers are advised to “be vigilant.”
You must request a credit freeze with each agency. In Florida, the fee to place a freeze is $10 with each agency for persons under age 65. If you are 65 or older or have been a victim of identity theft, the fee is waived. Currently, Equifax is waiving fees. You will need to lift the freeze if you want to open a new account, change insurance policies, rent housing, or sign up for new utilities or phone service – any transaction requiring a credit check. The fee to lift the freeze, either temporarily or permanently, is $10 per agency and it may take up to three business days for the lift to take effect.
Credit freeze requests may be made online, by phone, or by certified U.S. mail. Be patient and persistent, as many consumers are filing requests; websites often get overloaded temporarily. Below is the contact information for each credit reporting agency for each contact method:
Online
Equifax: https://www.freeze.equifax.com/Freeze/jsp/SFF_PersonalIDInfo.jsp
Experian: https://www.experian.com/freeze/center.html
TransUnion: https://www.transunion.com/credit-freeze/place-credit-freeze
Telephone
Equifax: 800-685-1111
Experian: 888-397-3742
TransUnion: 888-909-8872
U.S. Mail
Equifax: Equifax Security Freeze, P.O. Box 105788, Atlanta, GA 30348
Experian: Experian, P.O. Box 9554, Allen, TX 75013
TransUnion: TransUnion LLC, P.O. Box 2000, Chester, PA 19016
For mailed security freeze requests, include the following information in a cover letter format:
- Full name (with middle initial) and former name, if applicable
- Current address and former addresses within the last five years
- Social Security number
- Full date of birth (month, day, year)
- Signature
- Photocopies of two forms of identification, such as a government-issued identity card and proof of residence such as phone bill or utility company bill.
For more information, visit: http://www.freshfromflorida.com/Consumer-Resources/Scams-and-Fraud/Identity-Theft/Security-Freeze-Credit-Report
Federal Trade Commission – steps to take to protect your information:
https://www.consumer.ftc.gov/blog/2017/09/equifax-data-breach-what-do
Adapted from:
The Equifax Data Breach: What to Do, Federal Trade Commission
Equifax Security Breach: Steps to Protect Yourself, UF/IFAS Extension Hillsborough County
To Freeze or Not to Freeze My Credit Report?, University of Illinois Extension
Credit Freeze Information in the Wake of the Equifax Hack, Rutgers University Extension
by Judy Corbus | Oct 10, 2017
Photo credit: Judy Corbus
If you have been affected by the recent Equifax data breach, you may be exploring your options as to what to do next. All three major credit reporting agencies, Equifax, TransUnion, and Experian, give you the option of placing a fraud alert or a credit freeze on your file. So, what is the difference between a fraud alert and a credit freeze?
Fraud Alert
When you activate an initial fraud alert on your report, a business must verify your identity before it issues credit, so it may try to contact you. This can make it more difficult for an identity thief to open new accounts in your name. The initial fraud alert stays on your report for 90 days and you can renew it at the end of the 90-day period. Fraud alerts are free and the credit reporting agency you call must tell the other agencies about your alert. It also allows you to order a free copy of your credit report from each of the three credit reporting agencies. Be sure the credit reporting agencies have your current contact information so they can reach you.
You can place an extended fraud alert on your credit file if you have created an Identity Theft Report. With an extended alert, you can get two free credit reports within 12 months from each of the three credit reporting agencies, and the agencies must take your name off marketing lists for pre-screened credit offers for five years, unless you request to be added back to the lists. The extended alert lasts for seven years.
Credit Freeze
A credit freeze generally stops all access to your credit report. If you wish to open a new account, apply for a job, rent an apartment, buy insurance, refinance your mortgage – any transaction requiring a credit check – you must contact the credit reporting agency to lift the freeze, either temporarily or permanently. You will get a PIN to use each time you wish to freeze or unfreeze your account. In most states, there is a fee to activate a freeze as well as to lift it – usually around $10 for each and per credit reporting agency. There also is a lead time before the freeze is lifted so you would need to arrange for it in advance or be prepared to wait a few days if you planned to apply for credit. Cost and freeze lift lead times may vary so you may wish to check your state’s law or contact the credit reporting agency in advance. In most states, a credit freeze lasts until you lift it; in a few states, it expires after seven years. Click here for the Florida Statute regarding consumer security freezes.
A credit freeze may not prevent misuse of your current accounts or other types of identity theft, such as tax refund identity theft and health insurance fraud. Also, companies with whom you do business still would have access to your credit report for some purposes.
So, fraud alert or credit freeze? It depends a lot on what you have coming up in the near future. If you’re planning to apply for a loan or mortgage, you will have to unfreeze and freeze with each application – consider the cost and time involved. If you are not planning to apply for new credit, then a credit freeze may be a good option for you.
For more information on credit fraud alerts and freezes, visit:
Place a Fraud Alert and Extended Fraud Alerts and Credit Freezes
Sources:
Federal Trade Commission – Place a Fraud Alert
Federal Trade Commission – Extended Fraud Alerts and Credit Freezes
Federal Trade Commission – Fraud Alert or Credit Freeze – Which is Right for You?
UF/IFAS Extension Hillsborough County – Equifax Security Breach: Steps to Protect Yourself
by Judy Corbus | Apr 5, 2016
Spring has sprung and this is the perfect time to clean and freshen your house. But you don’t have to spend a lot of money on cleaning products when you can whip up your own with a few simple, inexpensive ingredients.
The basic ingredient list includes:
- White Vinegar
- Baking soda
- Rubbing alcohol
- Ammonia
- Mild dish detergent
- Washing soda (can be found in the laundry products aisle)
- Borax (also in the laundry section)
Use clean jars or bottles for mixing and storage. Do not use food containers – children can think the contents are something to eat. Also, don’t mix your products in empty cleaning product bottles; residue from the original product may interact with your product, causing a dangerous reaction. Label each product and store out of reach of children. NEVER mix chlorine bleach with ammonia or vinegar – it will create dangerous, toxic fumes!
Here are a few recipes to get you started:
ALL-PURPOSE CLEANER
Mix in a 16 oz. or larger spray bottle:
- 1 cup white vinegar
- 1 cup water
Use on sinks, countertops, lightly soiled range surfaces, floors, toilets, and showers.
WINDOW CLEANER
- 3 tablespoons ammonia
- 1 tablespoon white vinegar
Put in a spray bottle and fill the rest with water.
HOMEMADE LAUNDRY DETERGENT
- 1 bar Ivory® or 1/3 bar Fels Naptha® soap
- 1/2 cup washing soda
- 1/2 cup borax powder
Grate the bar soap into a cooking pot. Add 6 cups of water and heat until the soap melts. Add the washing soda and borax and stir until dissolved. Remove from heat. Pour 4 cups hot water into a clean bucket. Add the soap mixture from the pot and stir. Add 1 gallon plus 6 cups of water and stir. Let the soap sit for about 24 hours and it will gel slightly. Optional: Add 1 ounce essential oil or fragrance oil of your choice.
Use 1/2 cup per load. This is a low-sudsing soap which removes dirt and odor and can be used in high-efficiency machines.
For more product recipes, check out Homemade Household Cleaners and Green Cleaning: Recipes for a Healthy Home.
Sources: Homemade Household Cleaners
Clean It Green!, C. Rogers, UF/IFAS Extension Suwannee County.
by Judy Corbus | Mar 15, 2016
Photo credit: pixabay.com
In spring cleaning mode? If so, now is the perfect time to de-clutter your financial life. Organizing important papers as well as purging unnecessary ones will reduce paper clutter and stress and help you to locate what you need when you need it. Let’s get started!
Store home files as follows:
- Current files – day-to-day records. These include bank account information, bills and receipts, loan agreements, and certain medical information. For a list of suggested categories, check out Financial Recordkeeping: Organizing Your Financial Life.
- Permanent files – on-going records used infrequently, such as employment and education records and health benefit information.
- Dead storage – anything you feel uncomfortable discarding, such as old tax records or real estate you’ve sold. These can be stored in less accessible drawers or boxes.
Discard the following monthly: Credit card, grocery, ATM, and debit card receipts after they appear on the statement unless they are needed for taxes, business, or proof of purchase.
Keep these items for one year:
- Paycheck stubs – save until you compare with your W-2 and Social Security earnings statements then shred.
- Canceled checks and bank statements – shred unless needed for tax purposes or can be retrieved online.
- Quarterly investment statements – double-check with year-end statements then shred.
How Long to Keep Tax Records
The IRS recommends 3-6 years for income tax records, worksheets, and documentation of deductions. Keep records for as long as needed for administration of the IRS code. Tax records often are useful in situations where financial history is relevant.
Do Not Toss:
- Birth and death certificates, adoption decrees
- Marriage licenses and divorce decrees
- Social Security cards
- Military discharge papers, including spouse, even if deceased
- Immigration documents
- Pension plan information from current and former employers
- Estate planning documents
- Life insurance policies
- Titles for property still owned
De-clutter a section at a time – if the task seems overwhelming, work at it 15 minutes a day until you’re finished. Then, enjoy less stress with organized files!
Adapted from De-Clutter Your Financial Life, Julie England, UF/IFAS Extension Lake County, and Lisa Leslie, UF/IFAS Extension Hillsborough County, 02/16.
by Judy Corbus | Feb 10, 2016
As W-2 forms and other receipts start rolling in, we’re reminded that tax season is upon us once again. It’s exciting to get back some of your own hard-earned money in the form of a tax refund! Saving a portion of your tax refund can be a big step toward meeting your savings goals, so it’s no surprise that a 2015 tax season survey found that a majority of those who receive a refund planned to save it.
This tax season, reward yourself for saving some of your refund by entering for a chance to win $25,000 through SaveYourRefund. SaveYourRefund has 101 cash prizes, including 100 weekly prizes of $100 and one grand prize of $25,000. Making smart financial decisions isn’t always easy, but splitting your refund couldn’t be simpler. Follow these quick and easy steps to enter to win in 2016:
- Use Form 8888 to split your refund. Entry to win with SaveYourRefund starts with splitting your refund into savings.
- Save $50 or more of your tax refund. In order to enter, use Form 8888 to save at least $50. There are a number of accounts you can save into including a savings account, a U.S. Treasury Direct account (savings bond), and a myRA retirement account.
- Visit SaveYourRefund.com to enter. You will automatically be eligible to win one of ten $100 prizes that will be given away every week from the start of the contest until the end of tax season.
- Upload a picture here that represents your savings goal or motivation, and you’ll be entered to win the $25,000 grand prize!
Need tax assistance? Take advantage of a Volunteer Income Tax Assistance (VITA) program. VITA programs offer free tax help to those who generally make $53,000 or less, persons with disabilities, the elderly, and limited English speakers.
Get ahead of your financial goals by splitting your tax refund into savings, and reward yourself with SaveYourRefund!
Source: Tammy Greynolds, AmericaSaves.org.
