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.
Millions of Americans suffer because of bad credit these days,... Read More
You've just opened your credit card bill and attached to... Read More
Having a damaging credit record can hurt you in many... Read More
It is estimated that billions of dollars in delinquent commercial... Read More
"I think money was stolen from my card" or "I... Read More
Lenders are quite fussy about what they like to see... Read More
I've got some very important info I want you to... Read More
Credit 101How does a creditor determine whether to grant you... Read More
Having credit education is like knowing how to read. It... Read More
Review Your Credit Score.Nearly every bank, credit union, and mortgage... Read More
When applying for a loan to purchase a car, the... Read More
Somebody once said, "There is always a way of knowing... Read More
There are three major factors that affect how much you... Read More
This article is about bailiffs who may call trying to... Read More
Article excerpted from the new book, "How to Do Space... Read More
Just when most people finish with school and can stop... Read More
Spending HabitsSo you've just got your credit card. The first... Read More
Consumers reject financial advice in favour of financial frivolityIt would... Read More
Ah, the "good old days". If you are a baby... Read More
Do you know the costs associated with your credit card?... Read More
Chances are you've gotten your share of offers like this... Read More
A lot of people spend more money than they can... Read More
The next time you open your credit card statement, take... Read More
Ever wonder how a creditor decides whether to grant you... Read More
Your credit history is an important aspect of your life.... Read More
What are inquiries?When you apply for credit the creditor or... Read More
The articles and tips provided on this site are intended... Read More
Almost all students have and use student credit cards. Some... Read More
The Beginning of the Credit Card EraIn 1951, Diners Club... Read More
"Cut Your Payments in Half!" the headline screams. "Consolidate Your... Read More
It is the scourge of our age: identity theft. Thieves... Read More
How can I prevent Identity theft from happening to me?... Read More
Even if you think you have a wonderful credit report,... Read More
To reduce or minimize the risk of becoming a victim... Read More
Nearly 20 years ago I worked for a small consumer... Read More
The Credit Report is like your scorecard in the lending... Read More
When you apply for a loan or a mortgage, the... Read More
By now, you have undoubtedly heard of credit card fraud,... Read More
Understanding credit report scores is important when you see your... Read More
You might not know it, but every time you take... Read More
The first rule when applying for banking and credit services... Read More
Getting worried that one of your clients, customers or patients... Read More
For those of us who know how to use them... Read More
If gold medals were awarded for marketing consistency, the credit... Read More
If you intend to apply for a loan, you need... Read More
There are times when you may be turned down for... Read More
Most families in America today have a credit card; some... Read More
You probably don't need me to tell you credit cards... Read More
Have you ever really looked at your credit card and... Read More
Credit score is the key factor determining approval of almost... Read More
For people with a spotty credit history or bad credit,... Read More
In the new millennium plastic money or credit cards has... Read More
How Lenders Operate ? And How They'll Make a Tidy... Read More
Debt negotiation on credit cards is often referred to as... Read More
Credit cards can be a very quick way of getting... Read More
Let's be crystal clear, right up front. Paying someone to... Read More
A credit report is more than just a snapshot of... Read More
Because most of us have one or two credit cards... Read More
There's only one way to discover the "health" of your... Read More
These days, credit cards in the UK are competing with... Read More
Do you know the costs associated with your credit card?... Read More
Which of the following is the biggest threat to your... Read More
In the olden days, about 10 years ago, before the... Read More
Consumers interested in purchasing or refinancing a home will pay... Read More
1. Deleting Errors in 48 HoursThis is the absolute fastest... Read More
Identity theft has become an epidemic. Millions and millions of... Read More
Credit |