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Hmmm let me get this straight: 143,000,000+ people have to pay Equifax $3-20+ to get their credit frozen, and you get to just walk away and retire with oodles o
by Multicomp 9y ago
Hmmm let me get this straight: 143,000,000+ people have to pay Equifax $3-20+ to get their credit frozen, and you get to just walk away and retire with oodles of money from your illicit stock selling and severance packages? There is no justice sometimes.
That's around ~430,000,000 USD for Equifax alone [edit: if] 143M people got their credit frozen at $3 per freeze. (Obviously back of napkin math, and not everybody pays the same or even freezes their credit)
- sb8244 9y agoEquifax itself isn't charging for freezes right now. edit: ceejayoz has pointed out that they are free for 30 days only (and we're in that time window already).
- Multicomp 9y agoReally? Thanks for letting me know. I'll have to call and confirm the refund.
- ceejayoz 9y agoSure, but they're free for only 30 days. You still need to freeze with the other two agencies, and in a few weeks it'll cost money to lift your Equifax freeze if you want to open a new account.
- apetresc 9y agoI've been told by multiple sources that freezing with one agency is enough - other agencies automatically pick up that freeze.
- ceejayoz 9y agoNo, that's the 90 day fraud report. https://www.consumer.ftc.gov/articles/0497-credit-freeze-faqs https://www.consumer.ftc.gov/articles/0497-credit-freeze-faq... > How do I place a freeze on my credit reports? Contact each of the nationwide credit reporting companies. https://www.consumer.ftc.gov/articles/0275-place-fraud-alert https://www.consumer.ftc.gov/articles/0275-place-fraud-alert > Ask 1 of the 3 credit reporting companies to put a fraud alert on your credit report. They must tell the other 2 companies. http://money.cnn.com/2017/09/12/pf/what-is-a-credit-freeze/index.html http://money.cnn.com/2017/09/12/pf/what-is-a-credit-freeze/i... > In response to public outcry, Equifax announced that fees to freeze your credit will be waived for the next 30 days. But even that doesn't totally protect your information since your data isn't fully frozen until it is on ice at all three credit bureaus. The other bureaus have their own fees. It's also unclear whether Equifax would still charge you a fee to lift the freeze. The company did not immediately respond to request for comment.
- exhilaration 9y agoEvery article I've read on this, including the New York Times article [1] that I think was posted here, says you must freeze at EACH agency. It's a big racket, they have no interest in making it easier for us. [1] https://www.nytimes.com/2017/09/08/your-money/identity-theft/equifaxs-instructions-are-confusing-heres-what-to-do-now.html https://www.nytimes.com/2017/09/08/your-money/identity-theft...
- exhilaration 9y agoThanks for the tip, I've been waiting for the free Equifax credit monitoring (I haven't been able to log in, though they keep telling me I have a account). A free freeze is good enough. Here's the link for everyone else: https://www.freeze.equifax.com/ https://www.freeze.equifax.com/
- gk1 9y ago> you get to just walk away and retire with oodles of money from your illicit stock selling and severance packages? There is no justice sometimes. Retiring is not protection against criminal charges. Also, there would be oodles of money involved in the case of firing, resignation, or staying on anyway.
- Overtonwindow 9y agoTrue, but I guarantee you there's something in that golden parachute that the company will cover all legal costs resulting from any non-illegal decisions made by the CEO.
- maxerickson 9y agoIsn't that how a corporation should work? Not the big pile of money for leaving/getting fired, the accepting of consequences for legal actions taken while working for the corporation.
- toomuchtodo 9y ago> Isn't that how a corporation should work? Not when gross negligence occurs. EDIT: Gross negligence in the legal sense.
- maxerickson 9y agoDo you mean negligence in a legal sense or are you talking about something else? Because my comment is clearly scoped to "legal actions".
- wpietri 9y agoIt isn't formally protection against criminal charges. But I'd bet it makes charges significantly less likely.
- rhizome 9y ago>Retiring is not protection against criminal charges. It is, however, protection against a for-cause firing.
- deleted 9y ago[deleted]
- firebird84 9y agoIt's $10 in Florida.
- josefresco 9y agoFYI you can (theoretically) setup a "Fraud Alert" which is free, and lasts for 90 days. I set this up shortly after the news broke, however failed to enroll my wife as their (all 3) phone systems were f*cked.
- vkou 9y agoI assure you, your SSN, and date of birth are unlikely to change in the next 90 days.
- josefresco 9y agoUh what now? I'm not following...
- fma 9y agoI think vkou is implying you need to do this every 90 days (which from my understanding, is what Life Lock does).
- tbugrara 9y agoHe's saying after the 90 days is up, you'll still be vulnerable (because your SSN/DOB won't change). Better to just freeze indefinitely and lift when necessary unless you know you're going to be opening a new account soon.
- josefresco 9y agoI get that - I was just sharing the information about a Fraud Alert, which unlike a "freeze" is free and allows you to still apply for credit without lifting the alert.
- sseveran 9y agoI don't think that anyone has accused the now former CEO of selling stock. It was always going to be the case that this would happen.