Taking effect Oct. 1, 2015, Connecticut’s Governor Malloy signed a bill into law that will let parents in the state put a freeze on their kids’ credit reports.
The primary goal of this June 19 signing is to keep children’s identities safeguarded from identity theft, which continues to be a pervasive issue across the country.
The law works by making it unlawful for credit reporting agencies to release the credit file of a child whose credit has been frozen by the parents.
Those interested in taking part of this new Connecticut law are going to have to mail their request to each of the rating agencies (Equifax, Experian and Transunion) using certified mail. Additionally, parents must send the proper materials to prove that they can indeed take actions legally in the name of a child, which in most cases will be copying and sending a valid government identification card as well as the child’s birth certificate. Of course there are other situations where a birth certificate will not work, but we’re sure that by the time this bill goes into effect, there will be much better documentation available through the state of Connecticut.
After the proper paperwork has been sent to the credit rating agencies, they will have to freeze the child’s credit report within five business days, though we have yet to hear the punishment if they fail to conduct the freeze on time.