Veterans spend years handing out personal information. Social Security numbers on forms, records that pass through many hands, data breaches at employers and agencies, and a DD-214 that, in many cases, includes your Social Security number.
You cannot pull that information back. What you can do is make it much harder for someone to use it to open accounts in your name. The most effective tool for that is free, takes a few minutes, and most people have never used it.
What a credit freeze does
A credit freeze restricts access to your credit report. Since most lenders check your report before opening a new account, a freeze makes it very difficult for someone to open new credit in your name — even if they have your Social Security number.
According to the Federal Trade Commission:
- It is free to place and to lift.
- It does not affect your credit score.
- It lasts until you lift it.
A freeze does not stop you from using the cards and loans you already have. It does not stop you from checking your own credit. And it does not stop current creditors from reviewing your account.
The one catch: you need all three
There are three nationwide credit bureaus — Equifax, Experian, and TransUnion — and a freeze has to be placed with each one separately. A freeze at one bureau does nothing at the other two.
Each bureau will have you set up an account or a PIN. Keep those somewhere safe. You will need them to lift the freeze later.
When you need credit
When you apply for a loan, a card, an apartment, or sometimes a job or utility, you lift the freeze temporarily. The FTC suggests asking which bureau the lender will use and lifting the freeze at just that one.
Lifting can be done online or by phone, and you can usually set it for a specific period so it turns back on automatically. Plan ahead a little, but this is quick.
Fraud alerts: the other option
A fraud alert works differently. It does not block access to your report. Instead, it tells lenders to take extra steps to verify your identity before opening new credit.
The FTC describes three types:
- Initial fraud alert — lasts one year. For anyone who suspects they may be a victim of identity theft.
- Extended fraud alert — lasts seven years. For confirmed identity theft victims.
- Active duty alert — lasts one year. For service members on active duty, including during deployment.
A fraud alert is easier in one respect: you only have to contact one bureau. The FTC notes that the bureau you contact must tell the other two.
Many people use both. A freeze is stronger protection; an alert adds a layer of verification.
Freezes for children
Kids can be targets because nobody checks their credit for years. The FTC says you can request a free credit freeze for a child under 16, and it stays in place until you ask the bureaus to remove it. For military families who move often and fill out a lot of paperwork, it is worth considering.
Signs someone is using your information
- Bills or statements for accounts you did not open
- Calls from debt collectors about debts you do not recognize
- Accounts or inquiries on your credit report that are not yours
- Mail that suddenly stops arriving
- A tax return rejected because one was already filed in your name
- Medical bills or benefit statements for care you never received
Checking your credit reports regularly is one of the best ways to catch problems early. You can get them free, weekly, at AnnualCreditReport.com.
If it has already happened
Go to IdentityTheft.gov, the FTC's official site. It walks you through reporting the theft and builds a personalized recovery plan, including letters to send to creditors and the credit bureaus.
Then:
- Contact the companies where fraud occurred and close or freeze those accounts.
- Place a fraud alert or freeze with the credit bureaus, if you have not already.
- Dispute fraudulent accounts on your credit reports.
- Change passwords on affected accounts, starting with email and banking.
If you suspect someone has accessed your VA benefits or changed your direct deposit, contact the VA directly using a number you looked up yourself.
Everyday habits that help
- Keep your DD-214 and other records in a secure place, and share copies only when there is a real need.
- Do not give your Social Security number on a call you did not start.
- Use strong, unique passwords and turn on two-factor authentication, especially for VA.gov, email, and banking.
- Shred documents with personal information before throwing them away.
Where we fit
Identity theft can leave real damage on a credit report, and cleaning it up takes persistence. We help veterans read their reports, spot what does not belong, and work through disputes.
If you think your information has been misused, or you just want help setting up freezes, reach out to Credit4Vets. It is free.
Sources: FTC — What to know about credit freezes and fraud alerts · IdentityTheft.gov · AnnualCreditReport.com