Why Consumers Should Avoid an Equifax Credit Freeze in the Wake of The Recent Data Breach

-Most people are aware of the data breach that lead to millions of Social Security numbers being stolen from an Equifax server. Many are panicking as a result of this hack and are making irrational moves in an attempt to prevent identity theft. While the data stole from Equifax is an alarming story, consumers will have to take a step back and look at the whole situation before making any rash decisions.

There are a number of stories floating around online about how an equifax credit freeze is the best way to prevent identity theft. Below are some of the reasons why a credit freeze is a bad idea.

A Credit Freeze is a Major Hassle

Most people only look at a credit freeze from one angle, which is this action will prevent cybercriminals from applying for credit with their stolen information. While this is true, it will also prevent a person from taking out any new lines of credit as well. This can be quite problematic if a person needs a new home or new car in the near future.

In order to institute a credit freeze, a person will have to contact three separate credit reporting agencies. Not only is this a hassle, it will require an individual to invest a lot of time and effort in this process.

A Credit Freeze is Not the Best Course of Action in This Situation

The main reason why most people will try to freeze their credit is to stop cybercriminals from running up debt in their name. There are a variety of other systems already in place to prevent things like this.

Working with professionals in the identity theft prevention industry is a great way for a person to increase the security they have around their personal information. Paying a monthly fee to an identity theft prevention organization is a great way for a person to avoid having problems due to this recent Equifax data breach.

Rather than going through the aggravation of freezing their credit, a consumer will have to find easier and more effective ways of protecting their personal information. With a bit of research, it will be much easier for a person to find out what needs to be done to protect their identity.