Susan Routh
OSU Extension Office

Beginning January 1, 2007, consumers in Oklahoma will have the opportunity to “freeze” their credit reports. Senate Bill 1748 which was passed last May will allow consumers to place a security freeze on credit reports by requesting one in writing by certified mail to all three of the credit reporting agencies.

According to the Oklahoma Attorney General’s Office, the credit reporting agencies, which include Experian, Trans Union and Equifax, are not allowed to charge a fee to senior citizens 65 years of age and older or identity theft victims for placing, removing for a specific time period, or removing a security freeze on a credit report.

To prove you are a victim, you must send an investigative report or a complaint to a law enforcement agency about unlawful use of your personal information by another person.

For non-victims and non-seniors, a charge of $10 will be applied for each placing, removing or temporary lifting of a security freeze.

A security freeze will prohibit, with certain exceptions, the credit reporting agency from releasing the consumer’s credit report or any information from it without the express authorization of the consumer.

After ten days of receiving the request for the freeze, the credit reporting agencies will place the security freeze on your credit report.

After May 1, 2007, the credit reporting agencies will have five days before placing the security freeze.

The security freeze can be temporary lifted by contacting the credit reporting agencies and asking for the freeze to be permanently or temporarily lifted.

To request the lifting of the freeze, consumers will need to follow the policy established by the credit reporting agency.

When you have a security freeze on your credit file, certain entities still have access to it.

Your report can still be released to your existing creditors or to collection agencies acting on their own behalf.

They can use it to review or collect on an account.

Other creditors may also use your information to make offers of credit.

Government agencies may also have access in response to a court or administrative order, a subpoena, or a search warrant.

For more information about security freezes on credit reports, visit the Oklahoma AARP website.

For more information about money management, visit the Grady County OSU Cooperative Extension Office at 828 West Choctaw in Chickasha. We can be contacted at 224-2216.