Adding freezes to your credit reports is an appropriate response to the massive Equifax database breach that exposed the private information of 143 million Americans.

Don’t make the mistake of thinking those freezes will keep you safe, however.

Credit freezes lock down your credit reports in a way that should prevent “new account fraud,” or bogus accounts being opened in your name. But there are so many other ways the bad guys can use the information they stole, which included Social Security numbers, birth dates, addresses and some driver’s license numbers. Others include:

  • Stealing your tax refund and preventing you from filing returns by submitting fake ones
  • Using your information to get health care, which can result not only in medical collections on your credit reports but a stranger’s health information getting mixed in with your records
  • Giving your identification to the police when they get arrested, creating criminal records that could land you in jail or prevent you from getting a job
  • Filing for bankruptcy in your name or transferring deeds of property you own

You can’t prevent any of these bad things from happening. The best you can do is remain as vigilant as you can and try to clear up the messes as they happen.

If you feel helpless, there’s a good reason for that: You are.

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We need to scan every piece of mail and junk mail, looking for unfamiliar names that could indicate someone is trying to take over our accounts. We need to obsessively check our bank statements, credit card bills and credit reports for unauthorized activity. We need to hold our breath every time we apply for a job or get stopped by a cop, lest someone else’s misdeeds derail our lives.

We need to pay the price, in other words, because a private company couldn’t be bothered to invest adequately in the security that might have protected us.

What you can do now:

  • Get your credit reports from the three major bureaus via annualcreditreport.com and look for accounts you don’t recognize. You can check each bureau once a year.
  • Sign up for a free credit report service that you can access more frequently. It will alert you to new accounts, changes in your score or new negative items.
  • Freeze your credit reports as soon as possible with each of the three major credit bureaus to prevent scammers from opening new accounts. If a freeze is inconvenient or unavailable, set fraud alerts on your reports.
  • Stay vigilant. As long as your Social Security number is the key to your identity, you’ll need to be on guard. That’s our life now, thanks to Equifax.