There has been a lot of commotion about the new “Credit Freeze” laws that have been enacted as of November 1, 2007 that give consumers more control over who views their credit reports and why.  However, the state of South Carolina is not one of the states in compliance with these laws which are mandated on a state-by-state basis.    The states that have adopted a consumer credit freeze law allow you the right to completely freeze all activity on your credit report, for a fee.  South Carolina residents are getting freezes from credit reporting agencies on a “voluntary” basis. 

In theory, the freeze will not allow anyone to view your credit file for any reason, making it impossible for someone to open credit in your name.  Some states have made an exemption to their fees they will charge for those that are the victim of identity theft.  The fees, which are around $10-15 per credit reporting agency must be paid each time a credit report is frozen, and to each provider separately (Equifax, Experian and Trans Union).

Some information from the consumersunion website:

South Carolina

South Carolina is one of eleven states that has not passed a law requiring the availability of the security freeze. However, as of November 1, 2007, Equifax, Experian, and TransUnion are all making the freeze available voluntarily to South Carolina residents. In order to effectively freeze access to your credit files, you must request the security freeze at all three major credit bureaus.

Eligibility: All Consumers

Fees: No fee for identity theft victims. All others pay $10 to place, temporarily lift, or remove the freeze altogether.

Effective date: November 1, 2007 at all three major credit reporting agencies

Security Freeze Instructions for Equifax

Security Freeze Instructions for Experian

Security Freeze Instructions for TransUnion

Your “No Bull” Realtor,

Kathy Smith
Russell & Jeffcoat Realtors, Inc.

(888) 808-4Moo ext. 0

(803) 781-5729

http://www.kathy.smith.net/