Auto news on Youtube Sep 22 2017

Hello to everyone!

I am André Bohall with

Watch Me As I Realestate.

Today's topic I would like to elaborate on is

"Credit" and "Credit Score".

Several of you already know the recent

news about the huge breach of information

through the hacking of Equifax,

a consumer credit reporting agency.

Equifax's inadequate security allowed

hackers to break in and steal

143 million American's personal information.

With that being said, how does this directly impact you?

We can start with an example of how

your information may be used by a hacker.

One method relies on manipulation

and social engineering.

A hacker can call one of your institutions

and pose to be you,

then have the ability to pass all of the security

questions and gain access to your accounts.

A second way that the information

can be used nefariously is

to actually establish a new account

under your name with your information.

The important thing to know is:

"Now that this has occurred what do we do?"

I would like to provide a few tips to moving forward.

#1-

Make sure you are monitoring your bank

and credit card statements.

Double check to make sure

all of the transactions

actually belong to you.

#2 Another way to protect yourself:

Equifax is also offering a free one year

credit monitoring service.

You can sign up on this web site:

https://www.equifax.com/personal/?/

and #3, a very important step is:

Freeze your credit.

Let me explain how to do that.

You will have to contact all three agencies

that deal with consumer credit.

1.Equifax

2. Transunion

3. Experian

You will need to contact each agency

and ask them to freeze your credit.

You can do this online as well.

Another thing to keep in mind:

Here in Washington State

the cost to freeze your credit is $10-$11.

I know, because I had to do it.

So, "what does freezing your credit do?"

Suppose you have already contacted

the credit agencies and would like

to open a new line of credit

When opening a new line of credit,

the lender will "pull your credit" (history)

before this happens you will have to contact

each agency to let them know you are doing this.

The agency then allows your credit to be accessed

for that one instance.

It is a vital part of protecting yourself

in this situation.

And it almost goes without being said

that this was an egregious error on

the part of Equifax.

Make sure to use this website below

https://www.equifax.com/personal/?/

to find more information.

If you have any further question, or comments,

leave them in the comments

and we will do the best we can to take care

For those of you who are thinking

of using a loan to purchase a home

in the future, having good credit

is a solid part of that process.

Thank you so much for joining me.

And thank you for taking the time to watch this.

I look forward to serving you

and your family in the future, thank you.

Bye!