Identity Theft

Recently, there has been a lot of attention given to the prevention of identity theft. Credit card companies have sank millions into advertising campaigns designed to show the impact that this type of theft has on its victims. Some of the commercials are humorous, while others make you afraid to order anything online.

Many people have taken advantage of identity theft protection programs that are offered by credit card companies, to help protect them. For those who don’t have this type of insurance, it can be frustrating to become a victim and feel that you have no way to remedy the situation.

Reporting that your identity has been stolen can be done without as much hassle as you think. The key is to report it as quickly as possible. If you notice that your social security card is missing from its usual place, you can call the various credit reporting agencies, such as TRW and TransUnion, and complete a form that will put a social security alert on your credit report. This alert can stop a thief in his tracks, because creditors review your credit report before they extend credit. The warning the report contains will let them know that they should be wary about issuing credit to the applicant. This warning can stay on your report up to three months. Hopefully, by that time the thief will have moved on.

The same applies to your driver’s license. This is the number one source of identification used, so if you lose it or think it has been stolen, go immediately to your local motor vehicles department and have another one issued. Let them know that your original one was stolen, so they can take steps to invalidate it.

It’s also important to protect documents such as paychecks, bank statements, or any thing that can give a thief important information about you. Many companies have stopped putting social security numbers on pay stubs, but there are also many who have not. If your company is one that has not taken this measure, go to your payroll department and request that your number not be put on the stub. Keep your pay stubs in a safe place in your home and don’t carry them on your person when you go out. This way you don’t have to worry about losing it.

If your identity has been stolen and used to obtain fraudulent accounts, or to use credit on your existing accounts, report this immediately to the creditor. You can also report identity theft to the Federal Trade Commission. They can be helpful to future victims, by keeping track of these cases and creating stronger laws to protect society from it and to punish the thieves who do this.

Protecting your identity is important, not only to keep your good credit rating, but to avoid the other devastating affects this type of theft can cause.