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Great Info for New York State REsidents


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CHECK THIS OUT!!!

This can be information can be found at: https://www.econsumer.equifax.com/consumer/sitepage.ehtml?forward=cs_cpo_faqs

New York State Residents Only (must be current resident)

Satisfied judgments remain five years from the date filed

Paid collections remain five years from the date of last activity

All other purge rules as noted above apply

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Also, effective 11/1/2006, New York consumers have a right to place a "security freeze" on their credit report, which will prohibit a consumer credit reporting agency from releasing information in your credit report without your express authorization. Equifax, TransUnion, and Experian sent one notice about this to NY consumers who requested their credit reports on or after 11/1/2006.

Note: it appears that they are only sending one notice -- so consumers who have received multiple copies of their reports (e.g., following a dispute, or successive requests for their report) only got the notice once.

What is a Security Freeze?

A Security Freeze is one of the newest ways for you to help prevent someone from opening a new credit account under your name. When someone uses your name or your personal information to open a new account or to borrow money, that's called Identity Theft. Identity Theft makes it appear that you were responsible for opening these new accounts. There is no charge for a New York State resident to place a Security Freeze on their credit report if you are the victim of Identity Theft or you are making this request for the first time. For second or subsequent requests for a Security Freeze, you may be charged up to $5 for that service.

How Does the Security Freeze Work?

A Security Freeze is placed on your credit file, which is sometimes called your "credit history." The Security Freeze works by preventing most lenders and others from gaining access to your credit report for review prior to granting a new line of credit. If there is a Security Freeze on your credit file, the lender won't be able to get a copy of your credit history and, as a result, most lenders will refuse to open a new credit account. The Security Freeze will, in most cases, block someone from opening a new account or borrowing money using your name or personal and financial information. That's bad news for the bad guys. A Security Freeze will prevent them, in most cases, from opening a new credit card or borrowing money because your credit file is now off limits until you lift the Security Freeze.

Is a Security Freeze the right choice for everyone?

Not everyone will want to put a Security Freeze on their credit file. With a Security Freeze in place, you won't be able to borrow money or get a new credit card until you temporarily lift or permanently remove the Security Freeze. The same is true of new insurance coverage and background checks that might be required by a new employer.

How do I obtain a Security Freeze?

You must write and mail a separate letter to each of the three major credit reporting agencies: TransUnion, Experian and Equifax. In requesting a Security Freeze, your letters must contain the personal information required by each credit reporting agency. This information is needed so the credit reporting agencies can verify your identify and process your request. Each company has different identification requirements so the Consumer Protection Board is supplying you sample letters (below) that can be used to make your request for a Security Freeze. Although additional information may be required should there be a question during the verification process, these sample letters show what basic information is required, as well as the addresses where they should be mailed.

IMPORTANT: Each letter must be delivered by the U.S. Postal Service either by certified or overnight mail (known as "Express Mail"), with the exception of TransUnion. TransUnion will accept letters sent by regular mail. However, for increased personal information protection, the CPB suggests that you send your letters certified or overnight via the U.S. Postal Service.

http://www.consumer.state.ny.us/security_freeze.htm

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