Credit Freeze, Clear Mind: A Simple Step to Safeguard Your Identity

Why Cogent’s Founder, Michael Evans, Took Action—and Thinks You Should Too

Instant online access has become our default setting. From paying bills to checking investments, our lives are increasingly managed through digital tools. But that convenience comes with a tradeoff: a wide digital footprint that leaves personal data scattered across platforms, businesses, and databases.

While companies work hard to protect your information, cyberattacks are becoming both more frequent and more damaging. In 2024 alone, over 3,000 cyberattacks led to more than 1.3 billion consumer notifications. The risk is real—and growing.

At Cogent Strategic Wealth, we believe wealth protection goes beyond portfolio design. It’s also about safeguarding your identity and your family’s future.

That’s why our founder, Michael Evans, froze both his and his spouse’s credit reports years ago.

“It was one of the easiest, smartest things I’ve done to protect our financial security,” Michael says. “It’s free, quick, and gives you real peace of mind. Why wouldn’t you do it?”

What Does a Credit Freeze Do?

A credit freeze stops lenders from accessing your credit report. Without access, they won’t extend credit—making it nearly impossible for identity thieves to open accounts in your name. It won’t impact your credit score, and you can lift the freeze at any time if you need to apply for a loan, mortgage, or credit card.

It takes a few steps: You’ll need to contact each of the three credit bureaus individually—Equifax, Experian, and TransUnion. Some may try to steer you toward paid credit monitoring, but stay focused on the free freeze option.

Here’s how to get started:

• Equifax: equifax.com or 1-800-349-9960
• Experian: experian.com or 1-888-397-3742
• TransUnion: transunion.com or 1-800-916-8800

Each bureau will provide a PIN or password to unfreeze your credit later—store this securely. And don’t forget to do the same for your partner.

If you’re applying for credit or need to allow a specific organization to access your credit history, you’ll need to temporarily lift the freeze at each credit bureau’s website to grant them access.

Freeze Your Child’s Credit, Too

Children are particularly vulnerable to identity theft. Their clean credit files are attractive to criminals and can be abused for years before anyone notices.

According to a 2022 report by Experian, over 1 million children were victims of identity theft in a single year, resulting in over $1 billion in losses.

The Identity Theft Resource Center notes that child identity theft often goes undetected for years—until the child applies for credit, a job, or student loans. Then it is too late.

That’s why Michael also made it a habit to check his children’s credit reports annually—and when the time was right, he worked with them to freeze their reports as well.

“When our kids were younger, I’d run credit checks each year just to make sure nothing unusual had popped up,” Michael says. “Once they were old enough, we froze their credit together. It was a great moment to teach them about financial safety.”

Because children typically don’t have credit files, any activity at all can be a red flag. But since no one’s actively monitoring those dormant profiles, fraud can go undetected until something like a student loan rejection brings it to light.

How to Check for a Child’s Credit File

You’ll need to contact all three bureaus and request a manual search. Be ready to provide documentation, including your child’s birth certificate and your own government-issued ID, to prove legal guardianship.

Freezing your child’s credit takes effort—but it’s worth every minute.

Michael saw it not just as protection, but also as a teaching opportunity:

“It wasn’t just about shielding them from fraud—it was about helping them build financial awareness early. Now they’re young adults who understand how to protect their identity and make smart money moves. That’s the kind of legacy we want to create.”

If Your Data Has Already Been Compromised

If you suspect your information—or a loved one’s—has already been compromised, consider placing a fraud alert. Unlike a freeze, a fraud alert only requires contacting one bureau, which then notifies the other two.

• Initial and active-duty alerts last one year.
• Extended fraud alerts, available after filing an identity theft or police report, last seven years and can be renewed.

At Cogent Strategic Wealth, we’re here to help you protect what you’ve built—from your investments to your identity. Whether you’re a successful executive, a business owner, or someone looking for peace of mind, freezing your credit is a low-effort, high-impact way to take control.

Have questions or want guidance on taking this step? Reach out. We’re always here to help.

Disclosures:
Cogent Strategic Wealth is a registered investment advisor with the U.S. Securities and Exchange Commission. This content is for informational purposes only and should not be considered legal, financial, or credit advice. Please consult your own professionals regarding your specific circumstances.