Preventing Identity Theft

Ways to Prevent Identity Theft

Preventing Identity Theft

We know the fear and frustration of having our wallet or credit cards stolen. Today it’s even worse to have your identity stolen.
According to one non-profit debt counseling agency, some 40,000 consumers each year are victims of this crime. Identity theft is a serious type of fraud.

Someone will use personal information about you; such as your name, address, social security number or driver's license to apply for credit, utilities, bank accounts, mortgages, even jobs in your name. Some people don't find out about the identity theft until months after it has happened.

This happened to the son of a friend of mine. My friend was divorced and her son was visiting his father who lived in another state. His father had the same name as he did. Unfortunately, the father obtained his son's social security number. Then the father used his own son's social security number to obtain credit. He used his birthdate, but his son's social security number.

The credit bureaus never noticed that the social security numbers and the birthdates did not match. Since he was under age, this went on for several years. When the young man became of age and wanted to buy a car, his credit was already ruined. His fight to clean up his credit that his father had ruined has taken years. So even protect the social security numbers of your children.

Here are some tips to help you avoid becoming a victim of identify theft:

Check your credit report at least once a year. Investigate if you find accounts that are not yours.

Rip-up, or better yet, shred, any credit card applications, bank or billing statements, and any other sensitive documents.

If you don't get a bill for one of your credit cards in any given month, call the issuer immediately.

Use a locked mailbox for incoming and outgoing mail.

Avoid giving out your social security number unless it's necessary. Of course, for a loan it will be necessary.

Save your ATM and credit card receipts, check them against your statements and then shred them.

If you are a victim of identity theft, act quickly:

If your wallet or purse with your identification is stolen, notify the credit reporting agencies immediately. They can issue a fraud alert for your file, which can help prevent additional credit accounts from being opened without your permission.

Initiate a police report. Be persistent, even if the police don't seem interested in your situation.

Keep careful written records of everyone you speak with, and use registered mail when sending important correspondence.

Identity theft is happening more and more. Be sure to protect your information so that identity theft doesn’t happen to you!