Equifax, one of the nation’s three major credit reporting bureaus, says their system was compromised between May and July of this year. The massive breach reportedly includes names, Social Security numbers, birth dates, addresses and even driver’s license numbers of over 143 million people.
Aside from the staggering numbers and the mere fact that a credit reporting agency, full of sensitive data, could be hacked in the first place, one should consider the legal ramifications posed by this breach.
- Equifax has agreed to waive fees (typically $10) for placing and removing security freezes through November 21, 2017. Note that you are still required to pay for security freezes through the other major credit reporting agencies, TransUnion and Experian, should you choose to place a freeze via those agencies.
- Consider filing early: Filing your 2017 taxes early lessens the chances of someone filing fraudulently on your behalf. Beat them to it.
As one might guess, it’s important to contact a lawyer before signing any type of contract or document that could be enforced in the courtroom. Why? The document could prevent thousands to millions of victims from joining the issue, testifying and providing evidence in the future.