Credit Report Freeze

Consumers have the option to freeze their credit reports. A freeze prevents a lending agency from accessing a consumer's credit report and approving credit for the consumer without consent. When a consumer needs credit and applies for it, the credit report has to be unlocked and the freeze has to be lifted either for a particular lender or for a period of time. The consumer is given a PIN, which is required to unlock the credit report.

In APM, when an application is submitted where the applicant's credit report is frozen, the application moves to a Frozen File state and the workflow stops processing the application. The system displays a message about the credit report freeze to credit analysts, customer service representatives, supervisors, and managers or other users who create and process applications. Such users have the option to enter the consumer PIN and unlock the credit report and continue with the processing of the application. However, if the application is in the Frozen File status for a specified period of time, the application is automatically declined due to unavailability of the credit report.

The timeout for the frozen file application status is set in the Categories > Create Category page. For more information about timeouts and how to configure the timeout for an application status, see Adding Product Categories.

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