Folks, I didn’t realize that Georgia’s new Credit/Security Freeze Law went into effect this past week, on July 31st. We talked about the scope of what a credit/security freeze is on today’s show, but here’s the information you need to know:

Cost to freeze or unfreeze your credit record: $3 per record per credit reporting bureau) (This cost is lower than in most states)
Cost to freeze or unfreeze your credit record if you’re 65 or over: Free
Time to freeze/unfreeze: The credit bureaus must lift the freeze within 15 minutes when a customer makes a request to buy a big-ticket itme like a car or TV using credit. (That’s obviously a nod to the retailers’ concerns.)

You still have to make the request directly with each of the credit reporting bureaus. Here’s the information:

Equifax Security Freeze, PO Box 105788, Atlanta, GA., 30348; Call toll-free 800-685-1111.

Experian Security Freeze, PO Box 9554, Allen, TX, 75013 (look for “Security Freeze” link); Call toll-free 888-397-3742.

TransUnion Security Freeze, PO Box 6790, Fullerton, CA, 92834 (look for “security freeze” link under “identity theft” on the home page); Call toll-free 888-909-8872.

August 3, 2008