Data Security

If you use credit to purchase things or if one of the major credit report organizations has a report on you, then there is a good chance that the Equifax breach impacts you. It is recommended that you take immediate steps to find out and, if you were affected, take additional steps to protect your credit.

If you have been impacted, then it is possible that a person or people have your credit card and social security number as well as other information that allows them to steal your identity and/or purchase items under your name and account. Once your identity is stolen, it is very difficult to make things right.

If you are affected, you could experience financial problems that could include the theft of money from your bank accounts, the opening of credit card accounts by others who use your name that can cause you to fall into debt, and theft of funds from your retirement accounts.

Identity theft could also lead to adverse effects on your credit. For example, a person who has stolen your identity could obtain a credit card in your name and then use it. This activity could ruin your credit score and extend your debt. If this should occur to you, then you will experience all sorts of problems trying to purchase items on credit, restrict your ability to get a car loan or mortgage and affect your ability to take advantage of other financial benefits.

Theft of your identity can also prevent you from receiving your social security benefits as well as medical benefits.

And, as if all of this is not bad enough, you could experience legal problems. For example, if a person who has stolen your identity is arrested for a crime and gives your identification to authorities, then you could become the criminal. As a result, you could find yourself in court and even in prison for a crime you did not commit.

Finally, you could lose job opportunities while you try to remedy the situation.

You can learn more about the timeline of cyber attacks made on Equifax, and more importantly, if you were affected by the data breach.