March 28, 2007

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  NEWS: Freezing Legally in Montana

  There are several U.S. states that have instituted legal measures that give residents the right to freeze their credit report as a pre-emptive strike against identity theft or as a defense against theft that has already occurred, but the state of Montana is looking to trump the rest with some very comprehensive legislation. A bill sponsored by Sen. John Brueggeman, R-Polson, that permits consumers to block use of their credit information cleared the Senate unanimously and headed to Gov. Brian Schweitzer's desk. The governor's office has not stated either way as to whether he will sign the bill into law. If he does, however, customers can look forward to freezing their credit as early as this summer.
  
  Montana would take a step ahead of other states permitting credit freezes by allowing victims of identity theft to freeze their credit as early as 24 hours after filing a report with police. Other states have longer minimum timeframes. Proactive consumers that have not been crime victims have the option of paying $3 to each of the three major credit bureaus for a freeze, and a PIN number that will allow them to unfreeze it when they so choose. A credit ‘thaw' will also cost $3 per bureau, but lawmakers agreed that it's a small price to pay for the protection.
  
  Credit freezes work as tools to prevent identity theft by "freezing" access to your credit information, so it cannot be solicited or invoked without express permission from the consumer. Fans of freezing cite that it is especially effective for seniors, who not only would probably not be accessing their credit too often, but generally need the most protection against opportunistic ID theft scams.
  
  
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