With all my bills who would possibly want my credit? Let them steal my identity and pay my bills! Unfortunately, that's not the way it works. Many of us mistakenly believe that identity thieves hit only the wealthy. Nothing could be farther from the truth. The average person is often more vulnerable that those we consider wealthy?
When someone steals your identity, they probably won't touch your existing accounts and they certainly aren't going to use your address. That would alert you to the problem. Last year the Identity Theft Resource Center reported that 73 percent of identity thieves will open new lines of credit in your name with a new address. Sixty three percent will take out loans in your name. Thirty seven percent will have cell phones or phone service in your name. Fifteen percent will even lease a car or apartment in your name. And guess what? They aren't going to pay the bills!
The Federal Trade Commission reported that in the last five years 27 million identities were stolen. That's one in every 8 adults. That's more than 1,100 thefts per hour, three times the number of household burglaries. It's definitely the fastest growing crime in America.
How will you learn your identity has been stolen? Eighty- five percent learn the hard way. They apply for credit and it's denied. The collection agency calls trying to collect on past due bills for things they didn't buy. Only fifteen percent are lucky enough to have a business alert them through verifying an application or an address change.
How does your identity get stolen? The number one way is by stealing your purse or wallet. That gives them your name, birth date, and often your social security number. That's all they need to establish credit in your name. Your mailbox is also a prime target. If you receive checks or pre-approved credit offers in the mail you are at risk. Some will steal directly from your mailbox. Others will send in a change of address form and let the Post Office bring it to them. Then there is the "dumpster diver" who goes through the trash at homes or businesses to find the needed information.
You can't stop identity theft from happening. But you can reduce your risk! Remove unnecessary information from your purse or wallet. You need your social security card when you start a new job but you don't need to carry it the rest of the time. Is your social security number on your driver's license? Request a different number from the from the state motor vehicle department. Keep those credit card offers out of your mailbox. Have your name taken off the marketing list of the three major credit reporting bureaus (Equifax, Experian, and Trans Union). Drop your bills off at the post office instead of putting the flag up on your mailbox. Never give an unsolicited caller your social security number, credit card number, or other personal information over the phone. If someone calls representing your financial institution or a creditor get their name, location, telephone number, and the reason they are calling. Then call them back at the phone number printed on your billing statement, not the number they gave you.
Routinely check your credit report for accuracy or even better; subscribe to a monitoring service. It's an easy and cost effective way to protect your family's name and finances. A professional credit analysis yields valuable information. They'll give you specific instructions to reduce your chances of becoming an identity theft victim. Daily monitoring gives you the earliest possible detection. Early detection keeps personal and business losses to a minimum. Businesses are hit hard by identity theft. Remember they pass those costs on to you, the consumer.
You don't have to become an overnight identity theft expert. Letting a professional resolve the situation for you makes an otherwise costly, frustrating, and unpleasant experience easier to bear. You'll have the peace of mind of knowing that someone is always there watching your back for you.
Steve Mueller has over 25 years of human resource experience. He has worked in various fields of human resources; as a Trainer for Cooper Industries, Compensation and Management Development Manager for Zenith Electronics, Plant Personnel Manager for a motor manufacturing company and Benefits Manager for a multi-location distribution company. Steve holds a bachelors of science degree in education from Pittsburg State University. He has taught numerous adult education classes and seminars in the community. Steve has received community service awards for his participation in elementary school child safety programs.
Maybe some of you are saving it in your trusty... Read More
The Federal Trade Commission (FTC) has set up a new... Read More
Bad credit can be a burden for otherwise good credit.... Read More
Rewards cards have become the latest rage in the credit... Read More
Before you take out a home loan or make any... Read More
Credit cards are just so convenient, aren't they? There's no... Read More
You can stop receiving credit card offers in the mail!... Read More
If you find that creditors are calling you almost daily... Read More
What are the APRs charged by the credit cards in... Read More
Fixing a credit report starts with seeing what's on it.... Read More
Here are some useful credit card tips for you to... Read More
1. Payment History -- 35%The number of accounts paid as... Read More
Your credit report--a type of consumer report--contains information about where... Read More
Is identity theft really that serious? Thousands of people every... Read More
It is the scourge of our age: identity theft. Thieves... Read More
What do a shoe retailer, an online discount broker, and... Read More
By Federal law, you are entitled to one free credit... Read More
Review Your Credit Score.Nearly every bank, credit union, and mortgage... Read More
Obtaining a credit report is an excellent way to begin... Read More
In their quest to get you to sign up for... Read More
A lot of people have bad credit. It is unfortunate... Read More
If you have considered credit counseling as an option to... Read More
The credit card companies make billions each year in legitimate... Read More
A recent amendment to the federal Fair Credit Reporting Act... Read More
Having credit education is like knowing how to read. It... Read More
Several different types of credit cards offer several different options,... Read More
Let's face it, if you are facing the possibilities of... Read More
Do you know why you should check your credit report?Of... Read More
In the high tech world of today, credit card fraud... Read More
To repair your bad credit does not necessarily mean that... Read More
Congratulations college freshman! You're about to embark on one of... Read More
By far the greatest invention the banks have ever come... Read More
Which of the following is the biggest threat to your... Read More
Whether you have no credit or damaged credit, secured credit... Read More
Most of us want a good credit report to obtain... Read More
When you apply for credit one of the first things... Read More
Do you have a poor credit rating? If so, you... Read More
Today, selecting the proper credit card can be a bit... Read More
When applying for a loan to purchase a car, the... Read More
It wasn't all that long ago that lenders blatantly discriminated... Read More
According to the September 2004 issue of the Nilson Report,... Read More
Are you thinking of buying a house? Do you want... Read More
Someone impersonating you could be spending your hard-earned money.Impossible! Not... Read More
Almost all students have and use student credit cards. Some... Read More
A credit report is more than just a snapshot of... Read More
Whether you are aware of it or not, credit bureaus... Read More
Is identity theft really that serious? Thousands of people every... Read More
Fixing a credit report starts with seeing what's on it.... Read More
Your credit report is a very important piece of the... Read More
The articles and tips provided on this site are intended... Read More
When you apply for a loan or a mortgage, the... Read More
You've just opened your credit card bill and attached to... Read More
As a consumer you've learned the importance of establishing a... Read More
So what do you look for when applying for a... Read More
2005 marks the year that consumers will be able to... Read More
Having a better credit score not only represents easier access... Read More
Your credit history is important; in fact, in this day... Read More
It is wise for you to have a company credit... Read More
Do you know what your credit card is truly costing... Read More
This summary of the Fair Credit Reporting Act will explain... Read More
Having a credit card is a wonderful convenience for those... Read More
Help! I've Been Turned DownYou received an envelope in the... Read More
So you got into debt, had problems but you got... Read More
Everywhere we go, the word credit can be found, shining... Read More
Even if you have heard of a credit report, you... Read More
It is the scourge of our age: identity theft. Thieves... Read More
Credit |