Ways to Prevent 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.

ID 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.

Don't Let the identity theft thief get you. Read the experience below to see how easy it can happen!

ID Theft Experience

This happened to the son of a friend of mine. The thief was his own father!

The credit bureaus never noticed that the social security number and the birth date did not match. Since the son was under age, this went on for several years.

When the young man became of age and wanted to buy a house, his credit was already ruined. What a horrifying experience for this first time home buyer!! The son had to fight to clean up his credit from what his father had ruined. This process took the son several years. So even protect the social security numbers of your children.

Tips to Prevent This Fraud

• 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, Act Quickly to Protect Credit Report

• 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.

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