New York law lets consumers freeze credit data

Nov. 1 marked the enactment of a new state law allowing New Yorkers the option of 'freezing' their credit information, effectively keeping identity theft thieves out and valuable credit information secure.

The New York State Security Freeze Law allows any state consumer to write to the three major agencies - TransUnion, Equifax and Experian - and request that their credit records be blocked from any inquiries.

The credit firms however, believe the law makes it very difficult for consumers to get credit when they need it, and suggested better, easy-to-use and free options, such as placing a fraud alert on their credit file, said Jennifer Costello, a spokesman from Atlanta-based Equifax.

While file freezing may be appropriate for some consumers, it can pose

inconveniences and unintended consequences for credit active Americans,” Equifax said in a statement sent to this publication. “A security freeze requires a consumer to plan ahead as it limits credit grantors and other businesses access to their credit file to make offers of credit, employment, etc.

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