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Can someone obtain credit with this showing? What is it?
It is a flag on your credit file. Lenders are supposed to notice flag and do extended id verification during any application process. It will not stop application process as security freeze will. They can still pull credit report, but will run whatever extended I'd verification they dohopefully.
Extended fraud alert is when you are a victim of credit fraud/ID theft and you use police report to place such alert. Lender will have to verify your identity before even processing your application.
@trumpet-205 wrote:Extended fraud alert is when you are a victim of credit fraud/ID theft and you use police report to place such alert. Lender will have to verify your identity before even processing your application.
You do not need a police report to place an extended fraud alert on your file. Consumers can do it themselves, or often, it will happen if you have disputed multple things such as INQS
-scott
@rckstrscott wrote:
@trumpet-205 wrote:Extended fraud alert is when you are a victim of credit fraud/ID theft and you use police report to place such alert. Lender will have to verify your identity before even processing your application.
You do not need a police report to place an extended fraud alert on your file. Consumers can do it themselves, or often, it will happen if you have disputed multple things such as INQS
-scott
Nope. Without police report, you can only place fraud alert that last for 90 days. Extended fraud alert lasts for 7 years.
@trumpet-205 wrote:
@rckstrscott wrote:
@trumpet-205 wrote:Extended fraud alert is when you are a victim of credit fraud/ID theft and you use police report to place such alert. Lender will have to verify your identity before even processing your application.
You do not need a police report to place an extended fraud alert on your file. Consumers can do it themselves, or often, it will happen if you have disputed multple things such as INQS
-scott
Nope. Without police report, you can only place fraud alert that last for 90 days. Extended fraud alert lasts for 7 years.
I did it on EQ personally when I had a couple mysterious inquires. No police report, its sitting there in extended fraud alert right now. Just called them up and did it.
Both initial fraud alerts (FCRA 605A(a)(1)) and extended fraud alerts (FCRA 605A(b)) are only authorized to be placed in a consumer's credit file upon "direct request of a consumer, or an individual acting on behalf of, or as a personal representative of a consumer." I didn't see any mention of a police report being required; just an idenity theft report with the CRA
I am not saying your interpretation is wrong, I just know I was able to do it.
UPDATE: "An extended fraud alert is similar to an initial 90 day alert, except that it lasts for 7 years, and to verify your request a creditor must contact you on the telephone number(s) you provide to Equifax when you requested the extended fraud alert. A valid police report showing that you have been a victim of identity theft is required to place an extended fraud alert. Also, you may request two additional free credit file disclosures, and your name is removed from prescreened offers of credit or insurance for 5 years." - from EQ --- sooooo you were right haha... good CSR work Equifax... I stand corrected.
-scott