Blog Post Date: Oct 18, 2005
As Promised, the manager of Media over at Experian Sent me this press release with regards to how the credit bureaus Experian, Equifax and TransUnion are going to help out Hurricane Katrina, and also Hurricane Rita victims. Please read this carefully as it will help you with your credit reporting problems if you were a hurricane victim.
Maintaining and Salvaging Credit After Katrina
Equifax, Experian and TransUnion Offer Important Education Information to Help Consumers Take Steps to Maintain Their Credit Standing and Avoid Becoming Victims of ID Theft
Washington, D.C. ?V Sept. 15, 2005 - The waters may be subsiding in New Orleans and throughout the Gulf Coast, but for millions of Hurricane Katrina survivors the process of rebuilding their lives is just beginning. After they??ve secured the essentials of shelter, food and medical care, survivors are wondering how they can get their financial affairs in order.
For those consumers affected by Hurricane Katrina who wish to take steps to protect their current credit standing, Equifax, Experian and TransUnion recommend the following actions:
?h Consumers should send letters to their creditors explaining their situation and inquiring about any special programs or handling they may be offering to hurricane victims.
?h When evacuees become settled in to their new addresses, even for the short term, they should file a change of address form with the post office. This will ensure that they receive their bills and credit card statements?Xenabling them to keep track of their financial situation while also keeping these documents out of the hands of potential identity thieves. Consumers who may not yet have a permanent address should consider getting a locked P.O. Box to protect their forwarded mail.
?h After affected consumers have changed their address with the U.S. Post Office, they should make certain the address changes have taken effect before ordering a credit report.
?h As soon as possible, victims should examine their credit and bank accounts and look for any impact, and take the necessary steps to resolve any discrepancies.
Those who suspect they are victims of fraud should quickly report and resolve the matter. Equifax, Experian and TransUnion suggest the following steps for dealing with fraud:
Step 1: Fraud alert
Contact one of the credit reporting companies to request that a fraud alert be placed on their credit files. Consumers only need to contact one of the credit reporting companies to have an alert placed on their credit files at each of the three companies.
?h Initial alert - This 90-day alert can be placed on a consumer??s credit file if the consumer suspects fraud. This alert warns potential creditors to verify a consumer??s identity or contact them before opening new accounts. Consumers should be aware that adding an alert to their credit file may prevent them from opening an account unless the creditor is able to contact them and positively confirm their identity and that they are applying for credit.
?h Extended alert ?V The initial alert can be extended to 7 years when a consumer confirms through an identity theft report that he or she is a victim of fraud or identity theft. The extended alert also removes a consumer??s name from prescreened credit offers for 5 years.
Step 2: Review all three credit reports
Consumers should review their credit files from Equifax, Experian and TransUnion. Look for signs of identity theft such as suspicious inquiries, unfamiliar new accounts and unfamiliar new addresses.
Step 3: File a police report
If a consumer is a victim of fraud or identity theft, he or she should contact their local police department to file an identity theft report. Record the officer's name and the report number and keep a copy of the identity theft report in a safe place.
Step 4: Complete the Federal Trade Commission's Universal Fraud Affidavit
The Federal Trade Commission (FTC) offers a fraud report form online at www.consumer.gov/idtheft. Consumers should complete the fraud affidavit form, sign it and have it notarized, and sent to those companies that opened fraudulent accounts in their name.
Step 5: Notify your financial institutions
If consumers find fraudulent activity on their accounts, they should report it to the creditor's fraud department. Include copies of the police report and the FTC??s Universal Fraud Affidavit with the report. Follow up to ensure all accounts are correctly resolved and keep copies of all communications for future reference.
Step 6: Notify the credit reporting agencies
Mail copies of the completed fraud affidavit and identity theft report to the fraud departments at Equifax, Experian and TransUnion. Follow up to ensure all account concerns are correctly resolved and keep copies of all communications for future reference.
Step 7: Check your credit regularly
Consumers should review their credit reports at least 1-2 times a year or 3 months before making a credit application to verify that all information is accurate and free from fraudulent data.
Consumers affected by Hurricane Katrina are reminded that they have the right to a free annual credit report from each of the three credit reporting companies. Reviewing their credit files at this time may help to determine the current status of their financial situation. Consumers who wish to obtain their free annual credit reports may visit www.annualcreditreport.com. If a consumer wishes to receive a credit report by mail, they may contact the credit reporting company directly to assure proper delivery of the report to the correct mailing address.
Contact Information:
Equifax: 800-685-1111 or www.equifax.com
Experian 866 966 1067 or www.experian.com
TransUnion 877-680-7275 or www.transunion.com
About Equifax
Equifax Inc. (NYSE: EFX) is a global leader in turning information into intelligence. For businesses, Equifax provides faster and easier ways to find, approve and market to the right customers. For consumers, Equifax offers easier instantaneous ways to buy products or services, and better insight into and management of their personal credit. Headquartered in Atlanta, Equifax reported annual revenue of over $1.3 billion in 2004, and employs over 4,600 employees in 12 countries in North America, Latin America and Europe. Equifax. Information That Empowers.
For more information, please visit www.equifax.com.
About Experian
Experian is the global leader in providing value-added information solutions to organizations and consumers. It has an unrivaled understanding of individuals, markets and economies around the world. Experian provides information, analytics, decision-making solutions and processing services. It assists organizations in understanding their markets and customers and helps them find, develop and manage profitable customer relationships to make their businesses more profitable. Experian promotes greater financial health among consumers by enabling them to understand, manage and protect their personal information and helping them control financial aspects of key life events.
Experian works with more than 50,000 clients across diverse industries, including financial services, telecommunications, health care, insurance, retail and catalog, automotive, manufacturing, leisure, utilities, e-commerce, property and government. A subsidiary of GUS plc with headquarters in Nottingham, UK, and Costa Mesa, Calif., Experian??s 12,000 people in 28 countries support clients in more than 60 countries. Annual sales exceed $2.5 billion.
For more information, visit the company's Web site at www.experian.com.
The word ??Experian?? is a registered trademark in the USA, EU and other countries and is owned by Experian Ltd. and/or its associated companies.
About TransUnion
TransUnion is a leading global information solutions company that customers trust as a business intelligence partner and commerce facilitator. TransUnion offers a broad range of financial products and services that enable customers to manage risk and capitalize on market opportunities. The company uses leading-edge technology coupled with extensive analytical capabilities to combat fraud and facilitate credit transactions between businesses and consumers across multiple markets. Founded in 1968, Chicago-based TransUnion employs 4,100 associates that support clients in more than 30 countries. Visit us at Transunion.com.
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