Colorado Security Freeze Law
On May 23 Colorado Senate Bill 137 passed both the House and Senate and was sent to the Governor, who is expected to sign it.
The bill would give consumers the right to freeze access to their credit reports. Consumers do not have to be victims of identity theft to place the freeze.
The bill would prohibit credit agencies from making changes to information such as name and address while the freeze is in place.
The bill allows insurers to acccess credit information even with a freeze in place.
A provision requiring all businesses to notify consumers in the event of a security breach was removed to prevent a veto by the Governor.
The bill would give consumers the right to freeze access to their credit reports. Consumers do not have to be victims of identity theft to place the freeze.
The bill would prohibit credit agencies from making changes to information such as name and address while the freeze is in place.
The bill allows insurers to acccess credit information even with a freeze in place.
A provision requiring all businesses to notify consumers in the event of a security breach was removed to prevent a veto by the Governor.
posted by - at 3:20 PM
1 Comments:
I am extremely displeased with how the credit freeze process is handled and would like to raise awareness that this is NOT a good service to tout. It sounds simple, and in theory it is. Unfortunately, in reality you cannot lift the freeze as easily as they make it sound. It involves sending massive amounts of identifying paperwork (sketchy to send via mail), paying a fee and then waiting upwards of three days to get it lifted. As a matter of fact, I tried to lift mine two weeks ago. Still waiting. Furthermore, contacting the credit bureaus when something goes wrong is impossible, which is perhaps the most serious problem. You literally cannot speak to a representative at Experian. I even went so far as to call the headquarters and was told specifically that there was no one to help me, that I would need to send an additional letter via snail mail. How progressive of them. I HIGHLY discourage doing this. Judging from the problems I have encountered, it would not be easy to obtain credit in an emergency. In fact, it would be damn near impossible.
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