During my career in finance I saw my share of credit reports ruined by identity fraud. Credit cards opened fraudulently in my clients names, charged to the max and then sent to collection due to non payment; auto loans taken out for vehicles that my clients never bought and, in one case, an individual who had declared bankruptcy in my client’s name to avoid paying illegally incurred debts.
Victims of identity theft can spend years and thousands of dollars restoring their credit record. Victims can lose job opportunities, be refused loans and even get arrested for crimes they did not commit. Skilled identity thieves can gain access to your info, including:
- Stealing your mail
- Digging through your garbage
- Skimming information from ATMs
- Obtaining information directly from you, posing as legitimate companies
Place an active duty alert on your credit. Military personnel are, unfortunately, a target for identity theft because of the amount of time spent overseas. If your husband is deployed, you can place an active duty alert on his credit reports to minimize the risk of identity theft. The alert lasts for one year and removes you from the credit reporting companies’ marketing lists for credit card offers for two years.
Invest in a shredder. This is one of the best ways to thwart identity theft. Shred every piece of mail that has your name and address on it including receipts, copies of credit applications, insurance forms, doctor’s statements, bills, checks, bank statements, expired credit cards and any credit offers you get in the mail. Thieves can open accounts in your name through these applications.
Place passwords on all accounts. This includes credit cards, bank accounts, utilities and phone accounts.
Keep info in a secure place. A safe is a great option to secure important documents like social security cards, birth certificates, passports, marriage certificates and anything with your birth date and social security number. This is especially important if you employ a maid or nanny or are having work done on your home.
Inquire about security procedures. Any institution that collects your personal identification-doctor’s office, your workplace, attorney, accountant-should store and dispose of personal information accordingly.
Treat your mail carefully. Drop your mail in post office boxes instead of leaving in your mailbox to be picked up. If you’re going on vacation, call the post office to place a hold on your mail at 1-800-275-8777.
To contact the three consumer credit reporting below with any additional questions.
Equifax 800-525-6285 www.Equifax.com
Experian 888-EXPERIAN www.Experian.com
TransUnion 800-680-7289 www.TransUnion.com
