ASK FINNEY: Equifax hack -- what now?

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7 on Your Side's Michael Finney has some answers for you on the Equifax hack that has put 143 million Americans at risk.

7 on Your Side's Michael Finney has some answers for you on the Equifax hack that has put 143 million Americans at risk.

Question 1: Matt asked on Twitter, Why was there a delay in reporting the Equifax incident?
Answer: Matt, a lot of people want to know the answer to that. Equifax has not explained why it took six weeks. California does not have a set time when breaches must be reported. Congress is now looking at putting a timeline in place.

Question 2: Hans asked on Twitter, "Would we be waving our rights to sue Equifax if we enroll in their trusted ID monitoring?"

Answer: I do not believe that is the case, the consumer group Public Citizen doesn't either. Both of us believe it does force you into arbitration if there is an issue with Trusted ID.

Now other consumer advocates are reading it differently, believing just giving trusted ID a partial social security number is enough to block you from a lawsuit over the breach -- keep that in mind.

Question 3: Diana asked on Facebook,"How do I ask for a freeze on my credit reports? Is it a good idea to do so?"
Answer: At this point, it may be overkill, but some will consider this a good thing. To place a freeze on your account, you must contact and pay each reporting agency $10 so that's $30 altogether.

They will not give your information to creditors unless you give them a heads up. If you do not plan to apply for loans or credit cards -- it can be pretty simple.

If you are applying for credit, it is extra work.

Click here for a step-by-step guide through the process.

Click here for a look back at recent cyberattack stories and videos.

Related Topics:
businessu.s. & worldhackingcyberattacktechnologycomputerscredit cardscredit program7 On Your SideSan Francisco
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