How Consumers Can Clean Up After Equifax Disaster
Everyone needs to take precautions in today’s world of constant data breaches. Here are six steps to protect yourself.


Just in case you have been distracted by the natural disasters like the trio of Hurricanes Harvey, Irma and Jose, there is a different type of disaster affecting the financial lives of 143 million Americans. From mid-May to July 2017, hackers accessed sensitive information, such as names, addresses, Social Security numbers, dates of birth and even driver’s license numbers, from the database of Equifax, one of the three major U.S. credit agencies.
It’s never pleasant dealing with security breaches. I should know, as I have been a victim of identity theft myself. Someone used my Social Security number to obtain a cellphone with a major carrier. Among other measures I took, I had to go to the police department, complete an affidavit, provide documentation and get fingerprinted. Absolutely under no circumstance did I want to allow this individual or this situation to tarnish my credit score.
Here are six proactive steps consumers can take to protect themselves:

Sign up for Kiplinger’s Free E-Newsletters
Profit and prosper with the best of expert advice on investing, taxes, retirement, personal finance and more - straight to your e-mail.
Profit and prosper with the best of expert advice - straight to your e-mail.
1. Don’t fall prey to e-mail messages.
Unfortunately, there will be some fraudsters who will prey upon consumers’ fears and concerns in the wake of the Equifax breach (and others). Take precautions with any email correspondence you may receive from Equifax that directs you to certain links. A better method would be to conduct your own Web search and follow any links that you find on its website. Just make sure you don’t make any typos, as there are some sites with look-alike names that could fool unsuspecting consumers.
2. Determine whether you were affected.
Visit the site set up by Equifax and click on the "Am I impacted?" link. You will be prompted to enter your last name and the last six digits of your Social Security number. If you are among those potentially affected, you can also visit the Federal Trade Commission’s site for facts about the breach and further tips on what to do.
3. Sign up for a credit monitoring service.
If you discover that your personal information has been compromised, consider signing up for a complimentary identity theft protection and credit monitoring service. If you do not already have such a service, I suggest you take Equifax up on its free offer. If someone tries applying for a credit card or loan in your name, you will be notified immediately. Some consumers prefer not to use the complimentary services that Equifax is providing because they fear they would be relinquishing any right to legal action. Equifax has said that the waiver doesn’t apply to claims related to the breach. Even so, if you’d rather go with someone else, there are plenty of other monitoring services from which you can choose. In fact, your current bank, credit union or credit card company may offer these services.
4. Monitor your accounts.
Take the time to review the financial transactions on your credit cards and debit cards. Be certain to report any unusual or suspicious activity. An ounce of prevention is worth a pound of cure. It’s better to be safe than sorry.
5. Change your passwords and log-in information.
You have to be one step ahead of scammers and fraudsters. Consider changing your passwords and log-in information. Whatever you do, don’t make it easy by using the same user ID and passwords for all of your accounts.
6. Consider a credit freeze with all three major credit bureaus: Equifax, Experian and TransUnion.
A credit freeze does not impact your credit score. A credit freeze restricts access to your credit report, which in turn makes it more difficult for fraudsters to open new accounts in your name. Lenders need to see your credit report prior to extending credit or approving a new loan. They will not approve a loan to anyone assuming your identity if they can’t check your credit. To freeze your credit, contact these credit bureaus: Equifax: 800-349-9960, Experian: 888 397 3742 and TransUnion: 888-909-8872. Visit the Federal Trade Commission to learn more about credit freezes.
When I was picking up the pieces after my Social Security number was stolen, I ended up contacting all three of the credit agencies to put a credit freeze on my account. I wanted to adopt a proactive approach to this situation.
Even if you aren’t a potential victim of the Equifax breach, security breaches have become a fact of life these days. With these proactive steps mentioned above, you can be in control of your credit score and your personal finances.
Profit and prosper with the best of Kiplinger's advice on investing, taxes, retirement, personal finance and much more. Delivered daily. Enter your email in the box and click Sign Me Up.

Marguerita M. Cheng is the Chief Executive Officer at Blue Ocean Global Wealth. She is a CFP® professional, a Chartered Retirement Planning Counselor℠ and a Retirement Income Certified Professional. She helps educate the public, policymakers and media about the benefits of competent, ethical financial planning.
-
How to Invest as the AI Industry Grows Up
Here’s where to find the winners as artificial intelligence transitions from an emerging technology to an adolescent one.
-
I’m 62 and worried about Social Security’s future. Should I take it early?
A Social Security shortfall may be coming soon. We ask financial experts for guidance.
-
How Much Income Can You Get From an Annuity? An Annuities Expert Gets Specific
Here's a detailed look at income annuities and the factors that determine your payout now and in the future.
-
Your Paycheck Stops in Retirement, But Your Life Doesn't: An Expert Guide to Planning for a Confident Future
Social Security will replace only about 40% of your salary, on average. A solid financial plan will help you plug the gap so you can rest easy in retirement.
-
Are You Jeopardizing Your Future to Help Your Adult Kids? An Expert Guide for How to Not Do That
If your adult child needs financial help, of course you want to provide it, but crafting a plan that also protects your financial and emotional well-being is vital.
-
I'm a Financial Planner: Here Are Some Long-Term Care Insurance Tips for Every Age
Strategies include adding riders to life insurance for younger individuals and considering hybrid or traditional long-term care policies for those in their mid-50s and 60s.
-
Engineering Reliable Retirement Income in 2025: An Expert Guide
For dependable income, consider using a bucket strategy and annuities in tandem to promote structure, flexibility and peace of mind.
-
Crazy Markets Shouldn't Derail Your Retirement if You Follow This Financial Pro's Plan
Being nervous about retiring in a volatile market is a red flag that you're relying too heavily on your investment portfolio, rather than a comprehensive plan.
-
Key to Financial Peace of Mind: Think 'What's Next?' Rather Than 'What If?'
Even if you've hit your magic number for retirement, it's hard to stop worrying about money. Giving it a clear purpose is one way to reduce financial anxiety.
-
Three Estate Planning Documents a Business Owner Can't Afford to Skip
A business owner's estate plan should protect the company and its employees as well as the entrepreneur's heirs. These three documents are critical.