I ran into a login error on Transunion, and the password recovery wizard wouldn’t accept my info. When I called, TU reported that my account had also been taken over by a Yahoo! email address that wasn’t my own. Unlike Equifax, however, this time I was able to get the email address.
When I asked Transunion if they could investigate this and/or coordinate with Equifax, they said they don’t have any ability to investigate fraud like this. I found this ironic given that they are supposedly in the business of protecting consumers from fraud. Instead, they recommended I try to contact the police but acknowledged it would be difficult to catch the person.
Thanks. This was very helpful. I had no idea it was even possible to get a new SSN. Mind if I ask:
- Did you find any 3P services like AllClear ID compelling/useful? Sounds like Consumer Reports isn't a fan of these types of services vs. self-monitoring.
- You mention snail mail > phone. What about email?
3 days later, on May 31, I received a reply that Equifax was unable to locate the account, and requesting further information. I replied providing this information. I received another reply from Equifax saying they could not find the account, closing the ticket, and asking that I call in for support.
That same day (today), I called in and was connected to the Personal Solutions department. I briefed the representative, Mike, on the background of the situation and asked if there was a fraud or security department that could investigate this. I was told no, and the closest department was Disputes, which was closed on weekends. I indicated that if there was a hacking involved, this might be time-sensitive, and could affect other Equifax accounts. I was told there was no other way to get assistance.
I verified my identity with <rep_name>, who created a new account for me, and was able to view the email change history, but said he could not release the email address that the account had been changed to.
I requested 6 times to speak with a supervisor and was deflected each time. After 1 hour and 15 minutes, I was put on hold for 15 minutes, then connected with <supervisor_name>, the supervisor.
<supervisor_name> was helpful. She marked the account for investigation and indicated that it would take 7 to 10 business days. I asked if this could be expedited and she said sometimes it could occur more quickly but there was no guarantee.
I am deeply concerned that my account - and possibly Equifax itself - has been hacked, and would like to request the following:
- Please expedite the investigation into this intrusion.
- Please release the email address that the account was changed to, so I can investigate this. Otherwise, please work with the email provider and authorities to locate the person who breached my account.
In addition, I would like to request that Equifax please fix it's protocol for handling this type of situation. For instance:
- In the original email notice, Equifax asked me to email back if the change was not initiated by me. I did, but no one responded for 3 days, and when they did, they did not act on the information and instead closed the ticket. When I called, I was told I should call back during a weekday. Equifax should treat this as a security issue and act quickly, and have a way for issues like this to be addressed immediately instead of waiting days.
- <rep_name> didn't have anyone to transfer me to. Equifax should have a phone number or email to report fraud - not outside of Equifax, but affecting Equifax's systems.
- <rep_name> didn't have access to my full account info and was unable to release any information that would help me investigate this fraud. Equifax should have an escalation process for situations like this. Ideally, Equifax should investigate potential breaches; and if they are unable to, should release information to the user to help the user investigate breaches on their account.
I'm the author of this website/article, and I have an important update. I added this Epilogue to the website tonight:
--
I created this website two days ago, and during that time, have witnessed 100s of comments on Hacker News, TMC, Twitter, and more. In the middle of all that, electriclove on Hacker News found an important bug in the model: The Ody PV line was adding in fuel costs from another car. (This, IMHO, highlights how valuable the Internet is for discourse and fact checking.)
I updated the model and the result is as follows:
- Tesla Model S: $40,151
- Honda Odyssey: $37,235
The end result is greater parity between the depreciation and cash flow models; and the edge goes to the Honda Odyssey by $3K, or about $375/yr over eight years. If I had more time, I might try to quantify the value of the safety edge for the Tesla (Travis calculated this to be about $500/yr), HOV lane access, or other features. In the meantime, I double-checked the formulas on the other cars - they appear to be correct. However, I continue to invite folks to continue to look at and provide feedback on the model.
Good eye, electriclove - there was an error in the spreadsheet that was adding in fuel costs from another row. I updated the spreadsheet. It results in a pretty big change. I'm going to update the website.
I put the info on the depreciation worksheet. I used a range of 11.5-13% per annum based on observed values for the Roadster, and to be conservative, used 13%.
Tesla offers the option to purchase 4y of maintenance for $1900, which I included in the model, vs. $600/yr. The options are nearly economical neutral, but I plan to do at least the 1st 4y option. Maintenance also includes brake pad replacement.
I did not include tires or insurance - either for the Tesla or for the other vehicles (Ody, BMW, Volvo). I also didn't include the financial value of safety (though Travis attempted to on the cash flow model), HOV lane access, cargo space, etc.
On the battery, based on the research I've read from existing EV owners, and from my experience as an EV owner for 3y, I'm expecting around 85% of my battery to be available in 8-10y. If a battery swap option is available, I plan to do it around year 15 or so (i.e., ~2030).
Feel free to play with the annual mileage figures on the model. For my family's situation, I played around with it with mostly either 12K or 15K annual miles.
I forgot to write about this on www.teslacost.com, but one reason I didn't consider the Model S early on is b/c it's RWD and I wanted AWD for Tahoe and the like. Then I saw the above video.
This is definitely an important factor in the model. The frame of mind I tried to use is, what would I pay today, in 2014, for a luxury car of Tesla caliber that is, say, Model Year 2006?
Then I took a few other things into account:
- Quantitatively, given the paucity of data on Model S resales (I've looked at this and I think prices are high because supply is low), what does depreciation history on the Roadster imply for the Model S looking forward?
- Qualitatively, what is the impact of a battery swap say 8 or 10 years down the line, if the cost of the battery is approximately $12K (based on Tesla's earlier comments and the Roadster battery swap program) or less (if the Gigafactory succeeds)?
Travis (who forked my model to create the cash flow model) and I chatted about this. It's primarily due to the effect of time value on money, when you finance the car. If you were to purchase the car outright, you would want to use the 1st tab; vs. financing, the 2nd tab.
When I asked Transunion if they could investigate this and/or coordinate with Equifax, they said they don’t have any ability to investigate fraud like this. I found this ironic given that they are supposedly in the business of protecting consumers from fraud. Instead, they recommended I try to contact the police but acknowledged it would be difficult to catch the person.
Any recommendations for how to catch this person?