| It's no gardener's paradise to get "hit" by identity theft | | | | between fraudsters and legitimate businesses. |
| or to find out a month after the fact that some criminal | | | | However, the indirect side of the situation is where the |
| has learned about your accounts, gone on a spending | | | | intersection between good and evil occurs. Here's the |
| spree, leaving you with the bills to pay! "No more!" say | | | | rub. The credit bureaus, maintaining millions of credit |
| the Garden State legislators, joining states such as | | | | history file records are seriously motivated to do |
| California, Connecticut and Louisiana in an upgrade of | | | | what...? You got it...to sell for a fee your credit history |
| consumer protection laws to reduce abusive credit | | | | report to credit card companies, merchants, gasoline |
| card fraud and identity theft. | | | | companies, department stores, hardware and building |
| What Credit Freeze Laws Deliver To Garden Staters. | | | | stores plus the raft of merchants seeking to uncover |
| While Tony Soprano might get away with "whacking" | | | | new customers. |
| other bad guys, New Jersey residents expect a better | | | | How Do The Bad Guys Exploit "Regular Business"? |
| deal and definitely seek ways to minimize identity theft, | | | | What the Bad Guys do is exploit this business model, |
| credit card fraud, corruption of bank and checking | | | | by inserting themselves into the "demand" side of |
| accounts. This is where a credit freeze law creates a | | | | these businesses...using your name or other credit |
| key control-tool for residents. How credit freeze works | | | | details to apply in your name for a new credit card. |
| is that New Jersey residents formally notify in writing | | | | Normally, as in 80% or more of the cases, the |
| the three major front line credit bureaus...TransUnion, | | | | fraudsters get away with it. Result? A new credit card |
| Experian and Equifax...plus add a $10 fee and | | | | is issued to them, in your name...they go on a spending |
| designate that no credit report request can be acted | | | | binge until the credit max is met...30 days later along |
| upon without the account holder's permission. | | | | the normal billing cycle you suddenly open your mail |
| How Does The New Jersey Credit Freeze Law Stop | | | | and discover a new card with literally thousands of |
| Bad Guys & Good Guys? Remarkably, the Bad | | | | dollars of purchases! "What's this? I never bought this |
| Guys who seek to defraud you, get most of their | | | | stuff!"...and then the penny drops...you've been ripped |
| support for access to your files and credit history from | | | | off. Credit card fraud, identity theft, the whole 9 yards |
| the alleged Good Guys, namely the credit bureaus and | | | | and you're now facing a huge problem to clean up |
| the hundreds of firms offering credit privileges. Why? | | | | your credit history, remove these fraudulent charges, |
| To be clear, there's no direct collusion or relationship | | | | and more. |