Fraud and Freezing Your Credit

By admin on Nov 2, 2009 in Bad Credit

It all started in 2003. A credit freeze law was first introduced in California but it was not until the year 2007 when the three (3) major credit bureaus- Equifax, Experian and TransUnion- announced that they would allow people to freeze their credit report. Let us first discuss what a credit freeze is and why it is being used by more and more people.

Credit Report Freeze – What it Means

A credit freeze, which is also called credit report freeze or a credit report lock down, gives an individual the control over his/her credit report. It is done to prevent other people from accessing your credit report unless you give them permission to do so. Lenders, insurers, potential employers, landlords, marketing companies etc. will not be allowed to tap into your credit report while it is on freeze. You can’t even access it yourself.

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