| |
| |
|
Credit Information |
|
|
|
Identity Theft - Who Would Want Mine?
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.
MORE RESOURCES:
Google News |
|
|
|
RELATED ARTICLES
Credit Card Debt: How To Control It A lot of people spend more money than they can afford to repay toward their credit card debts. To regain control over your finances and to manage your debt, here are some solutions you can try. How To Read Your Credit Report The Fair and Accurate Credit Transactions Act, signed into law on Dec. 4, 2003, gives every American the right to a free credit report every year from each of the three major credit bureaus -- Equifax, Experian and TransUnion. Balance Transfers Introduction Credit card balance transfer involves using a credit card to pay off the amount outstanding on one or more credit/store cards. The total debt then moves to one card. Repairing Your Credit Score and Clearing Derogatory Marks on Your Credit Report Raising your credit score can be a fairly simple and straightforward process unless you have derogatory marks that need to be disputed (which will be explained below).The reasons for bad credit can be as follows, high balances, bankruptcies, late payments, and many others. I've Heard About FACTA; What Does It mean? What FACTA means is that if you, as an individual, lose the information on anyone you have ever hired; or, for any business in the United States of America that collects any personal information on people, if the information should be lost due to not destroying the information properly, then two things can happen. First, there are federal fines of up to $2,500. Saving Money with Credit Cards Having a credit card is a wonderful convenience for those times when you don't have immediate access to your cash. It can allow you to purchase something on time for which you can pay later, thereby giving you the ability to afford something NOW that you'd have had to save for later. Avoiding Credit Card Traps The next time you open your credit card statement, take a closer look at the small insert titled "changes to your credit card agreement". You know the one I'm speaking about. Credit Card Security Advice Which of the following is the biggest threat to your credit card security?a) Shopping online with a credit cardb) Shopping in a real store with your credit cardc) Ordering something over the phone with your credit cardThe answer may surprise you. It's b - shopping in a real store with a credit card. Identity Theft - Additional Protection for Soldiers on Active Duty Congress passed the Fair Credit Reporting Act several years ago in an attempt to smooth out some problems in the credit reporting industry. The best known provision of this Act is one that permits Americans to receive a free copy of their credit reports from each of the three main credit bureaus once per year. What You Need to Know About Interest Rates For all people shop around for the best rate, there are few who have taken the time to sit down and add it all up. After all, why would you bother? The answer is that understanding just how interest rates work can help you see how important small differences in rates and payment amounts can be. Sound Advice For First Time Credit Card Users If you are just entering the world of credit cards, there is important information you will need to know in order to manage your credit and your finances effectively. Establishing good habits and a good credit history now is the foundation for a solid financial future. Building Good Business Credit After Bad Credit Can you establish good business credit if you have bad personal credit? The answer is yes.. The Hitchhiker's Guide To Insanity A new sickness is plaguing the UK called Denial. Denial has resulted in a national personal debt of almost £1. 0% Credit Cards These days, credit cards in the UK are competing with each other on two very attractive offers with a headline rate of 0%. These 0% credit cards will be either balance transfers; introductory purchases offers or a combination of the two. What Is A FICO Score? A credit score is most commonly known as a FICO score. FICO stands for Fair Isaacs Corporation. Beat Credit Card Companies at Their Own Game! Have you ever wondered how much money a credit card company makes? Have you ever wondered how much of that comes from late fees? Everyone has and if you haven't you should because most likely you own a credit card, which means that these late fees has or could directly affect you.As you have probably taken notice, credit card late fees are on the rise and have been so for awhile. Free Credit Reports - How to Maintain Your Credit Profile Maintaining your Credit ProfileEvery consumer should be maintaining their credit profiles to ensure the highest scores possible. To do so, you must first order your credit reports from the three major credit bureaus: Equifax, Trans Union, and Experian. How You Can Avoid Becoming A Victim Of Identity Theft To reduce or minimize the risk of becoming a victim of identity theft or fraud, there are some basic steps you can take.The most important one is to ask periodically for a copy of your credit report. Building A Credit Report Lenders Will Love You For Will lenders really love you for having a good credit report score? Love is not the right word of course; lenders are after your money, and never forget that. But the lender's representative will love dealing with your credit application if your credit report is good. Cutting Credit Card Costs What are the APRs charged by the credit cards in your wallet? If you are paying more than 12% interest on any of them, you are probably paying too much. The prime rate is currently in the single digits, so credit card companies that charge above 13% APR are overcharging.
|
| Home | Site Map | |
| © 2007 |
