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Wolves in Sheep's Clothing

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In reading my EQ report, I came across the section Your Rights Under State Law which had a notice to UT consumers regarding a security freeze law that takes place on Sep 1, 2008.

The security freeze is designed to prevent the release of your credit report without your consent. It is optional and unless you have been a victim of identity theft there is a $10 charge.

The request for a security freeze does have to be done in writing and sent to EQ by certified mail. Once they have the request, they issue a personal ID number or password that they provide.

You can authorize a temporary release for those seeking new credit; however, it could slow down the process for any applications of credit. (They do not state how much that would cost)

A security freeze does not apply to CA's or OC's with whom you have an existing account, nor does it apply to the use of your CR for insurance underwriting purposes.

I am not opting in at this time because I am going through PRE HIPPA process......however, what are your thoughts? Do you think this is good for the consumer or do you feel that it is a wolf in sheep's clothing?

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